The governing body of any political subdivision or public body of this State including, but not limited to, counties, cities, towns, townships, school districts, public service districts, and authorities, which is authorized by law to issue general obligation bonds of such political subdivision or public body, the proceeds of which bonds will be used to finance the construction of projects which will be revenue producing, may, with the consent of any board, commission or other body or person which may be charged by statute or otherwise with the operation and management of any such revenue-producing project, provide in the ordinance or resolution which makes provision for the issuance of such bonds that such bonds may be additionally secured by all or any portion, designated in the ordinance or resolution, of the revenues to be derived from the operation of such projects. Any such board, commission or other body or person shall have full power and authority to make any and all covenants and agreements which may be necessary to implement and effectuate any such pledge of revenues.
HISTORY: 1975 (59) 174.
Structure South Carolina Code of Laws
Chapter 23 - Pledge Of Revenues To Secure Payment Of Bonds
Section 11-23-10. Legislative findings.
Section 11-23-20. Authority to pledge revenues as additional security for bonds.
Section 11-23-30. Authority to apply revenues to payment of bonds.
Section 11-23-40. Reduction of tax levy.
Section 11-23-50. Powers conferred by chapter are additional.
Section 11-23-60. Pledges to secure general obligation bonds not affected.