Notes issued pursuant to this chapter in anticipation of the issuance of general obligation bonds shall be general obligations of the borrower also secured by a pledge of the full faith, credit and taxing power of the borrower, and any governing body is authorized to make such a pledge in the proceedings providing for the issuance of any notes pursuant to this chapter in anticipation of the issuance of general obligation bonds.
HISTORY: 1962 Code Section 1-625.1; 1969 (56) 809.
Structure South Carolina Code of Laws
Section 11-17-10. Definitions.
Section 11-17-30. Use of other funds for payment of notes.
Section 11-17-40. Manner of issuing notes.
Section 11-17-50. Necessity of holding election before issuance of notes.
Section 11-17-60. Resolution of governing body; consent or approval required; renewal or refunding.
Section 11-17-70. Notes secured by full faith, credit, and taxing power of borrower.
Section 11-17-80. Purpose of bonds deemed to include payment of notes.
Section 11-17-90. Application of proceeds of notes.
Section 11-17-100. Application of proceeds of bonds to payment of notes.