In furtherance of its purposes, the authority may issue revenue bonds, the interest on which may or may not be excludable from gross income for federal income tax purposes, for the purpose of raising funds needed from time to time for the financing or refinancing, in whole or in part, the acquisition, construction, equipment, maintenance, and operation of any facility, building structure, or any other matter or thing which the authority is authorized to acquire, construct, equip, maintain, or operate.
In connection with the issuance of bonds, the authority may enter into an agreement with a company to consult, operate, maintain, and improve a project, and the authority may enter into a financing agreement with the company prescribing the terms and conditions of the payments to be made by the company to the authority or its assignee, to meet the payments that become due on the bonds.
HISTORY: 1992 Act No. 515, Section 5, eff July 1, 1992.
CROSS REFERENCES
Bond issue approval, proposal, disposition of proposal, see Section 13-21-90.
Determinations which must be made by authority prior to undertaking project authorized by this section, see Section 13-21-170.
Revenue bonds issued for project described in this section must be authorized by resolution of board of authority, see Section 13-21-60.
Right and power of authority to make contracts and to loan proceeds of evidences of indebtedness to provide, construct, acquire, improve, or expand projects or services described herein, see Section 13-21-30.
Terms and particulars pertaining to bonds, see Section 13-21-70.
Structure South Carolina Code of Laws
Title 13 - Planning, Research and Development
Chapter 21 - Edisto Development Authority
Section 13-21-20. Board officers; committees; meetings; quorum.
Section 13-21-30. Rights and powers of board.
Section 13-21-40. Area in which authority may exercise powers and duties.
Section 13-21-60. Resolution by board authorizing issuance of revenue bonds.
Section 13-21-70. Terms and particulars pertaining to bonds.
Section 13-21-90. Bond issue approval; proposal; disposition of proposal.
Section 13-21-100. Signature and attestation of bonds.
Section 13-21-120. Description of financial obligations to be filed with State Treasurer.
Section 13-21-150. Investment of funds by state treasurer; net earnings.
Section 13-21-160. Carryover of unexpended funds from year to year.
Section 13-21-180. Disposition of proceeds of sale of bonds; costs associated with project.
Section 13-21-190. Regulations promulgated by authority to be in accord with Title 1, Chapter 23.
Section 13-21-210. Tax exemption of Authority property; payment in lieu of taxes.