The bonds issued by the bank 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 bank 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: 1997 Act No. 148, Section 2.
Structure South Carolina Code of Laws
Chapter 43 - South Carolina Transportation Infrastructure Bank Act
Section 11-43-110. Short title.
Section 11-43-130. Definitions.
Section 11-43-140. Board of directors; members; terms; vacancies.
Section 11-43-150. Powers of bank; limitations.
Section 11-43-167. Fees and fines credited to the State Highway Fund.
Section 11-43-200. Exemption from taxes or assessments.
Section 11-43-210. Failure of governmental unit to remit amounts due; withholding of funds.
Section 11-43-230. Notice, proceeding, or publication not necessary; bank not subject to referendum.
Section 11-43-240. Deposit and investments.
Section 11-43-250. Annual report; audit of books and accounts.
Section 11-43-260. Liberal construction.
Section 11-43-265. Prioritization of projects.
Section 11-43-270. Severability of provisions.
Section 11-43-310. Definitions.
Section 11-43-315. Issuance of bonds; review and approval of Joint Bond Review Committee.
Section 11-43-320. Pledges of revenue or funds to bond payment; bonds secured by pledge.
Section 11-43-350. Trust indenture.
Section 11-43-370. Purchase of outstanding bonds; price.
Section 11-43-380. Form and execution of bonds.
Section 11-43-400. Vested rights; application of subsequent amendments to this article.
Section 11-43-410. Exemption from taxation and assessment.
Section 11-43-420. Bonds legal investments, securities.
Section 11-43-510. Definitions.
Section 11-43-520. Request for issuance of transportation infrastructure bonds; contents.
Section 11-43-530. Review of request; approval of bonds or bond anticipation notes.
Section 11-43-570. Issuance of bonds.
Section 11-43-580. Form, denominations, provisions of bonds.
Section 11-43-590. Issuance as fully registered bonds; transfer.
Section 11-43-600. Interest; redemption.
Section 11-43-610. Exemption from taxes or assessments.
Section 11-43-620. Sale upon sealed proposals; notice; awarding of bonds; rejection, readvertising.