The bonds may be issued in one or more series, may bear a date, may mature at a time not exceeding forty years from their respective dates, may bear interest at the rate or rates per annum as approved by the State Fiscal Accountability Authority, may be payable in a medium of payment and at a place, may be in a denomination, may be in a form, either coupon or registered, may carry registration privileges, may be subject to terms of redemption before maturity, with or without premium, and may contain terms, covenants, and conditions as the resolution authorizing the issuance of the bonds may provide. The interest rate on bonds issued by the authority, the proceeds of which are loaned to a company pursuant to a financing agreement to construct or acquire a project authorized under Section 13-19-40, are not subject to approval by the State Fiscal Accountability Authority. The bonds are fully negotiable within the meaning of and for the purposes of the Uniform Commercial Code.
HISTORY: 1992 Act No. 515, Section 4, eff July 1, 1992.
Structure South Carolina Code of Laws
Title 13 - Planning, Research and Development
Chapter 19 - Midlands Authority
Section 13-19-20. Board officers; committees; meetings; quorum.
Section 13-19-30. Rights and powers of board.
Section 13-19-35. Area in which authority may exercise powers and duties.
Section 13-19-50. Resolution by board authorizing issuance of revenue bonds.
Section 13-19-60. Terms and particulars pertaining to bonds.
Section 13-19-80. Bond issue approval; proposal; disposition of proposal.
Section 13-19-90. Signature and attestation of bonds and interest coupons.
Section 13-19-110. Description of financial obligations to be filed with State Treasurer.
Section 13-19-140. Investment of funds by state treasurer; net earnings.
Section 13-19-150. Carryover of unexpended funds from year to year.
Section 13-19-180. Regulations promulgated by authority to be in accord with Title 1, Chapter 23.
Section 13-19-200. Tax exemption of authority property; payment in lieu of taxes.