Georgia § 50-23-19 - Limitation on issue of bonds.
Full text of Georgia Official Code of Georgia Annotated § 50-23-19 — Limitation on issue of bonds., with citation guidance and answers to common questions.
§ 50-23-19. Limitation on issue of bonds.
Nothing contained in this article shall permit the authority to issue bonds or revenue bonds at any time when the sum of: The highest aggregate annual debt service requirements for the then current fiscal year or any subsequent fiscal year for outstanding authority bonds or revenue bonds, including the proposed bonds or revenue bonds; and The highest annual debt service requirements for the then current fiscal year or any subsequent fiscal year on general obligation debt of the state issued for authority projects exceeds 1 percent of the total revenue receipts, less refunds, of the state treasury in the fiscal year immediately preceding the year in which any such bond or revenue bond is to be issued; provided, however, that unless the director of the Water Supply Division of the authority has issued the certification provided for by Code Section 12-5-480 , the authority, with the approval of the Governor and the commission established by Article VII, Section IV, Paragraph VII of the Constitution, may issue bonds for the purposes of Article 6 of Chapter 5 of Title 12 notwithstanding such limitations. (Code 1981, § 50-23-19 , enacted by Ga. L. 1986, p. 569, § 1; Ga. L. 1994, p. 1108, § 6; Ga. L. 2008, p. 644, § 2-5/SB 342.)
Source: official Georgia text · Last verified 2026-08-27
Frequently Asked Questions About Georgia § 50-23-19
What does Official Code of Georgia Annotated § 50-23-19 cover?
Section 50-23-19 ("Limitation on issue of bonds.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Georgia § 50-23-19?
A common citation format is "Official Code of Georgia Annotated § 50-23-19" (Georgia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 50-23-19 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Georgia.