Every bond, note or other evidence of indebtedness outstanding on the ratification date which has been issued by the State, or any agency, authority or institution of the State, or by any political subdivision or school district of the State is hereby declared to be a legal, valid and binding obligation of the issuer in accordance with the tenor and terms of such instrument.
HISTORY: 1977 Act No. 125 Section 9.
Structure South Carolina Code of Laws
Chapter 27 - Effect Of New Article X Of Constitution On Bonded And Other Types Of Indebtedness
Section 11-27-10. Definitions.
Section 11-27-20. Effect of New Article X on other laws.
Section 11-27-30. Effect of New Article X on state bonds.
Section 11-27-40. Effect of New Article X on bonds of political subdivisions.
Section 11-27-50. Effect of New Article X on bonds of school districts.
Section 11-27-60. Prior bond issues unaffected.
Section 11-27-80. Outstanding bonds, notes, or other evidences of indebtedness not impaired.
Section 11-27-90. Form, sale, and maturity of bonds or other obligations.
Section 11-27-100. Duties of State Treasurer.
Section 11-27-110. Lease purchase or financing agreement subject to constitutional debt limit.