Any such bonds shall mature in such annual series or installments as the authorities shall provide, except that:
(1) The first maturing bonds shall mature within three years from the date as of which they may be issued;
(2) Not less than three per cent of the aggregate of the issue shall mature in any year; and
(3) No bond shall mature later than twenty-five years from the date as of which it may be issued.
The provisions of this section shall not prevent the authorities from issuing the aggregate of the bonds authorized by the election on one or more occasions, as two or more issues.
HISTORY: 1962 Code Section 14-517; 1952 Code Section 14-517; 1951 (47) 763.
Structure South Carolina Code of Laws
Section 4-15-30. When counties may issue bonds; amount.
Section 4-15-40. Holding of election; persons who may vote.
Section 4-15-50. Notice of election.
Section 4-15-70. Maturity of bonds.
Section 4-15-80. Redemption provisions.
Section 4-15-90. Form and negotiability of bonds; registration.
Section 4-15-100. Place of payment.
Section 4-15-110. Interest rates.
Section 4-15-120. Execution of bonds.
Section 4-15-130. Advertisement and sale of bonds.
Section 4-15-140. Minimum sale price.
Section 4-15-150. Pledge of credit for payment; levy and collection of tax.
Section 4-15-160. Exemption from taxes.
Section 4-15-170. Bonds shall be legal for fiduciary investments.
Section 4-15-180. Deposit and application of proceeds of sale of bonds.