For the payment of the principal and interest on all state institution bonds, whose issuance is authorized by this chapter, there shall be pledged the full faith, credit, and taxing power of the State, and in addition, the revenues derived from the tuition fees received by the particular institution of higher learning for which such state institution bonds are issued must also be pledged.
HISTORY: 1962 Code Section 22-30; 1953 (48) 169; 1991 Act No. 65, Section 5.
Structure South Carolina Code of Laws
Chapter 107 - State Institution Bonds
Section 59-107-10. Institutions to which chapter is applicable; "state institution" defined.
Section 59-107-20. Tuition fees required at state institutions.
Section 59-107-30. Remittance and application of tuition fees.
Section 59-107-50. Authority of State Fiscal Accountability Authority as to applications.
Section 59-107-60. Request for issuance of state institution bonds.
Section 59-107-70. Governor and State Treasurer empowered to authorize issuance of bonds.
Section 59-107-80. Single issue of bonds may cover several applications.
Section 59-107-90. Maximum amount of outstanding bonds.
Section 59-107-100. Full faith, credit, and taxing power of State pledged to pay bonds.
Section 59-107-110. Negotiability and registration.
Section 59-107-120. Denominations of bonds; interest rate; maturity; redemption.
Section 59-107-140. Bonds exempt from taxes.
Section 59-107-150. Bonds as legal investments.
Section 59-107-160. Sale of bonds.
Section 59-107-170. Deposit and use of proceeds of bonds.
Section 59-107-180. Tuition fees placed in special fund to pay bonds; application of surplus.
Section 59-107-190. Declaration of sufficiency of tuition fees to pay bonds.
Section 59-107-200. Defeasance of bonds; trust fund established.