The bonds issued by the authority are legal investments in which all public officers or public bodies of the State, its political subdivisions, all municipalities and political subdivisions, all insurance companies and associations and other persons carrying on insurance business, all banks, bankers, banking associations, trust companies, savings banks, savings associations, including savings and loan association investment companies, and other persons carrying on a banking business, all administrators, guardians, executors, trustees, and other fiduciaries, and all other persons who are now or may be authorized in the future to invest in bonds or other obligations of the State, may invest funds in their control or belonging to them. The bonds of the authority are also securities which may be deposited with and received by all public officers and bodies of the State or any agency or political subdivision of the State and all municipalities and public corporations for any purpose for which the deposit of bonds or other obligations of the State is now or may later be required by law.
HISTORY: 1988 Act No. 682, Section 2.
Structure South Carolina Code of Laws
Chapter 37 - South Carolina Resources Authority Act
Section 11-37-10. Citation of chapter.
Section 11-37-20. Definitions.
Section 11-37-30. South Carolina Resources Authority created.
Section 11-37-45. Funds; transfer of personnel.
Section 11-37-50. Powers of authority.
Section 11-37-60. Authority only to issue refunding bonds; maximum amount of bonds.
Section 11-37-80. Bonds may be secured by pledge.
Section 11-37-90. Bonds as debt of authority only.
Section 11-37-100. Bonds to be authorized by resolution of authority.
Section 11-37-105. Jobs Economic Development Authority to be reimbursed for expenses.
Section 11-37-110. Trust indenture.
Section 11-37-120. Validity of lien of pledge; recording or filing not required.
Section 11-37-130. Purchase of outstanding bonds.
Section 11-37-140. Form and manner of execution of bonds to be prescribed by authority.
Section 11-37-150. Signatures of former members or officers of authority.
Section 11-37-160. Amendments to chapter may not limit vested rights.
Section 11-37-170. Capital reserve funds.
Section 11-37-180. Purchase of local obligations.
Section 11-37-190. State grants.
Section 11-37-200. Water Resources Coordinating Council established.
Section 11-37-210. Tax exempt status of authority.
Section 11-37-220. Bonds as legal investments and securities.
Section 11-37-230. State Treasurer to invest monies of authority.
Section 11-37-240. Annual report.
Section 11-37-250. Construction of chapter.
Section 11-37-260. State Treasurer may withhold monies from defaulting local governments.
Section 11-37-270. Legislative declaration of intent.
Section 11-37-280. Chapter repealed when all bonds are retired.