The authority may pledge any of its revenues or funds to the payment of its bonds, subject only to prior agreement with the holders of particular bonds which may have pledged specific money or revenue. Bonds may be secured by a pledge of any loan obligation owned by the authority, any grant, contribution, or guaranty from the United States, the State, or a corporation, association, institution or person, other property or assets of the authority, or a pledge of any money, income, or revenue of the authority from any source.
HISTORY: 1994 Act No. 525, Section 2.
Structure South Carolina Code of Laws
Chapter 40 - South Carolina Infrastructure Facilities Authority Act
Section 11-40-10. Short Title.
Section 11-40-20. South Carolina Infrastructure Facilities Authority; creation; membership; purpose.
Section 11-40-30. Definitions.
Section 11-40-40. Powers of authority.
Section 11-40-70. Receipt, distribution, and holding of funds by the authority.
Section 11-40-100. Authority to pledge revenues, funds, or loan obligations to secure bonds.
Section 11-40-120. Bonds to be authorized by resolution; requirements for bonds.
Section 11-40-140. Validity of pledge by authority; lien of pledge.
Section 11-40-150. Bonds made negotiable instruments.
Section 11-40-160. Bonds and income from bonds exempt from taxes and assessments.
Section 11-40-170. Bonds of authority made securities.
Section 11-40-190. Pledge of State not to impair rights and remedies of bondholders.
Section 11-40-200. Defaults by local governments; withholding of state funds; exceptions.
Section 11-40-210. Authority members, officers, or employees not subject to liability.
Section 11-40-230. Deposit of money of authority; investment of funds.
Section 11-40-240. Annual reports; audit of books and accounts.
Section 11-40-250. Division of Local Government to assist authority; duties of Division.