§ 2-271. Municipal bonds; in general.

(a)

Preliminary review by finance committee. Prior to any issue of bonds by the city, the proposal for such issue shall be referred to the standing committee which committee shall give careful consideration to the proposal and submit a recommendation to the council for approval or disapproval, with applicable reasons therefor.

(b)

Records to be kept. A complete description of each bond issued by the city shall be kept by the city clerk in a suitable book, which book shall be open to public inspection.

Note: Municipalities are authorized to issue general obligation bonds, but must comply with all the rules and regulations governing bond elections, validations, etc., set forth in state law. See O.C.G.A. §§ 36-34-6 and 36-82-1 et seq.

(Prior Code, § 14-25)