The maximum amount of annual debt service on all outstanding state institution bonds for each state institution shall not exceed ninety percent of the sums received by such state institution from tuition fees for the preceding fiscal year, as provided in Section 13(6)(b) of Article X of the South Carolina Constitution.
HISTORY: 1962 Code Section 22-29; 1953 (48) 169; 1957 (50) 404; 1961 (52) 476; 1966 (54) 2263; 1967 (55) 689; 1968 (55) 3049; 1976 Act No. 582, Section 2; 1979 Act No. 194, Part I, Section 8; 1995 Act No. 145, Part II, Section 109; 1998 Act No. 419, Part II, Section 56; 1999 Act No. 40, Section 1.
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.