GEORGIA CODE (Last Updated: August 20, 2013) |
Title 20. EDUCATION |
Chapter 3. POSTSECONDARY EDUCATION |
Article 7. SCHOLARSHIPS, LOANS, AND GRANTS |
Part 3. GEORGIA STUDENT FINANCE AUTHORITY |
Subpart 2. EDUCATIONAL LOANS FINANCED BY REVENUE BONDS |
Section 20-3-352. Reserve or replacement funds of authority
Latest version.
- The authority shall be authorized, in connection with the issuance of its bonds or other obligations pursuant to this subpart, to establish, in respect of such bonds or obligations, such reserve funds or replacement funds as may be required in the sound discretion of its board of directors to enable the authority to effectuate its proper public purposes, to fund such reserve funds or replacement funds with bond proceeds, and to invest such reserve funds or replacement funds in accordance with paragraph (10) of subsection (b) of Code Section 20-3-342.
Ga. L. 1969, p. 683, § 33; Code 1933, § 32-3738, enacted by Ga. L. 1980, p. 835, § 3.