The proceeds received from the issuance of bonds, after deducting the costs of issuance, must be expended only for the purpose of providing infrastructure.
HISTORY: 2002 Act No. 254, Section 1.
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.