The general obligation debt must bear the date and mature at the time that the state board resolution provides, except that the general obligation debt may not mature more than thirty years from its date of issue. The general obligation debt 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 board before its issue. The general obligation debt may bear interest payable at the times and at the rates determined by the state board.
HISTORY: 2004 Act No. 187, Section 9.
Structure South Carolina Code of Laws
Chapter 51 - South Carolina Research University Infrastructure Act
Section 11-51-10. Short title.
Section 11-51-20. Legislative findings and purpose.
Section 11-51-30. Definitions.
Section 11-51-40. Issuance of general obligation debt authorized; limitations.
Section 11-51-50. Maximum annual debt service at time of issuance.
Section 11-51-90. Principal amount of general obligation debt provided on a competitive basis.
Section 11-51-100. Issuance of general obligation debt or anticipation notes.
Section 11-51-120. Maturity, payment, and interest rates.
Section 11-51-130. General obligation debt exempt from taxation.
Section 11-51-140. Executive signature, attestation, and state seal requirements.
Section 11-51-170. Application of sale proceeds; liability of purchaser.
Section 11-51-180. Investment by executors, administrators, and other fiduciaries.
Section 11-51-190. Exemption from state procurement process; alternative procurement procedures.