Reporting Requirements

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  2. Georgia Code
  3. Local Government
  4. Bonds
  5. General Provisions
  6. Reporting Requirements

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  1. As used in this Code section, the term "political subdivision" means any municipality, county, local government authority, board, or commission empowered to enter into debt. Such term shall not include any state agency or state authority.
  2. A political subdivision which issues general obligation bonds, revenue bonds, or any other bonds, notes, certificates of participation, or other such obligations of that political subdivision in an amount exceeding $1 million shall file a report with the Department of Community Affairs which contains the following:
    1. Name of issuer;
    2. Whether the issue is a new issue or a refinancing or refunding;
    3. Total amount issued;
    4. Term of issue;
    5. Detailed description of purpose or purposes;

      (5.1) Whether the issue is a general obligation bond, revenue bond, or other bond, note, certificate of participation, or other obligation;

    6. Name of underwriter;
    7. Proceeds used for bond issuance costs, including underwriters' discount as reported on Line 24 of the United States Department of Treasury's Internal Revenue Service Form 8038-G;
    8. Name of bond counsel;
    9. Interest rate; and
    10. True or net interest costs.

      Such information shall be reported to the Department of Community Affairs in accordance with Code Section 36-81-8.

(Code 1981, §36-82-10, enacted by Ga. L. 2001, p. 1033, § 1; Ga. L. 2006, p. 1021, § 1/HB 1012; Ga. L. 2012, p. 775, § 36/HB 942.)

Code Commission notes.

- Pursuant to Code Section 28-9-5, in 2001, Code Section 36-82-9, as enacted by Ga. L. 2001, p. 1033, § 1, was redesignated as Code Section 36-82-10.

ARTICLE 2 VALIDATION OF BONDS

JUDICIAL DECISIONS

Duties of superior court judge set forth.

- Under the provisions of this article, a superior court judge's duties are simply to hear and determine all questions of law and fact in a proceeding brought by the solicitor general (now district attorney) in the name of the state and against the county or municipality or political subdivision to validate their proposed bonds. In such a proceeding the sole issue is whether the proceeding by the county or municipality or other political subdivision for the issuance of such bond was legal, that is, whether all the provisions of the law have been complied with. Clinkscales v. State, 102 Ga. App. 670, 117 S.E.2d 229 (1960).

Cited in Posey v. Dooly County Sch. Dist., 215 Ga. 712, 113 S.E.2d 120 (1960); Johnson v. State, 107 Ga. App. 16, 128 S.E.2d 651 (1962).

RESEARCH REFERENCES

ALR.

- Constitutionality, construction, application, and effect of statute requiring judicial approval before issuance or sale of municipal or county bonds or obligations, 87 A.L.R. 706; 102 A.L.R. 90.

Printing, lithographing, or other mechanical signature on public bonds, coupons, or other public pecuniary obligation, 94 A.L.R. 768.

PART 1 GENERAL PROVISIONS


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