Prior to issuing any bonds under this chapter, a commission shall publish notice in a newspaper of general circulation in the municipality of its intent to issue such bonds specifying the approximate date and amount of such bonds, the provisions for securing such bonds and the proposed use of the proceeds from such bonds. Any interested person may within twenty days after the publication of such notice, but not thereafter, challenge the proposal of the commission to issue such bonds by action initiated in the circuit court for the circuit in which the commission is located. If no such action is initiated the bonds, if and when issued, shall be conclusively presumed to be valid and binding in accordance with the terms thereof; provided, nevertheless, that such bonds must be issued not later than six months after publication of such notice.
HISTORY: 1984 Act No. 451, Section 16.
Structure South Carolina Code of Laws
Title 31 - Housing and Redevelopment
Chapter 10 - Community Development Law
Section 31-10-10. Short title.
Section 31-10-20. Definitions.
Section 31-10-40. Governance by commissioners or by governing body of parent municipality.
Section 31-10-50. Terms of office of commissioners; compensation; removal from office.
Section 31-10-80. Creation of joint redevelopment commission.
Section 31-10-90. Powers of redevelopment commission, in general.
Section 31-10-130. Additional powers of commission with respect to issuance of bonds.
Section 31-10-150. Notice of intent to issue bonds; challenge to issuance.