Title 36, Chapter 82, Section 120
( 36-82-120)
It is the purpose of this article to maintain the fiscal solvency of
counties, municipal corporations, and political subdivisions of the
state and authorities and public corporations created by the
Constitution of Georgia or any general, local, or special Act of the
General Assembly in public borrowing by exempting from all other
laws of the state governing usury or prescribing or limiting
interest rates any bonds, notes, certificates, or obligations of any
kind issued by any such county, municipal corporation, political
subdivision, authority, or public corporation to evidence any
repayment obligation for money borrowed, exclusive of general
obligation bonds. |