The bonds must bear the date and mature at the time that the resolution provides, except that a bond may not mature more than thirty years from its date of issue. The bonds may be in the denominations, be payable in the medium of payment, be payable at the place and at the time, and be subject to redemption or repurchase and contain other provisions determined by the State Fiscal Accountability Authority before their issue. The bonds may bear interest payable at the times and at the rates determined by the State Fiscal Accountability Authority.
HISTORY: 2002 Act No. 254, Section 1; 2014 Act No. 121 (S.22), Pt VII, Section 20.H.2, eff July 1, 2015.
Effect of Amendment
2014 Act No. 121, Section 20.H.2, twice substituted "Fiscal Accountability Authority" for "Budget and Control Board".
Structure South Carolina Code of Laws
Chapter 41 - State General Obligation Economic Development Bond Act
Section 11-41-10. Short title.
Section 11-41-20. Increase in general obligation debt limitation.
Section 11-41-30. Definitions.
Section 11-41-40. Issuance of bonds pursuant to chapter.
Section 11-41-60. Maximum annual debt service on bonds issued pursuant to chapter.
Section 11-41-70. Bond notification requirements.
Section 11-41-80. Adoption of resolution effecting issue of bonds.
Section 11-41-90. Authorizing resolution.
Section 11-41-100. Bond maturity date and terms; determination of interest rate.
Section 11-41-110. Bonds exempt from taxation.
Section 11-41-120. Executive signature and State seal requirements.
Section 11-41-130. Payment of principal and interest.
Section 11-41-140. Sale of bonds.
Section 11-41-150. Application of proceeds; liability of purchasers for misapplication.
Section 11-41-160. Purchase by fiduciaries.
Section 11-41-170. Expenditure of proceeds.
Section 11-41-180. Infrastructure procurement procedures for research universities.