South Carolina Code of Laws
Chapter 109 - Educational Facilities Authority Act For Private Nonprofit Institutions Of Higher Learning
Section 59-109-60. Expenses.

All expenses incurred in carrying out the provisions of this chapter shall be payable solely from funds provided under the authority of this chapter and no liability shall be incurred by the Authority hereunder beyond the extent to which moneys shall have been provided under the provisions of this chapter.
HISTORY: 1962 Code Section 22-41.5; 1969 (56) 444.

Structure South Carolina Code of Laws

South Carolina Code of Laws

Title 59 - Education

Chapter 109 - Educational Facilities Authority Act For Private Nonprofit Institutions Of Higher Learning

Section 59-109-10. Short title.

Section 59-109-20. Legislative declaration of policy and purpose.

Section 59-109-30. Definitions.

Section 59-109-40. Educational Facilities Authority for Private Nonprofit Institutions of Higher Learning.

Section 59-109-50. Purpose of authority; powers enumerated.

Section 59-109-60. Expenses.

Section 59-109-70. Acquisition of property by authority.

Section 59-109-80. Transfer of property to participating institution after payment of bonds; option to renew lease or purchase project prior to retirement of bonds.

Section 59-109-90. Bond anticipation notes; issuance, terms, form, and execution of bonds and notes.

Section 59-109-100. Trust agreement to secure bonds.

Section 59-109-110. Bonds not considered debt or liability of State or any political subdivision.

Section 59-109-120. Institutions to complete projects if bond proceeds insufficient; payments required; disposition of monies received.

Section 59-109-130. Monies received deemed trust funds.

Section 59-109-140. Enforcement of rights of bondholders.

Section 59-109-150. Exemption from taxation.

Section 59-109-160. Bonds as legal investments.

Section 59-109-170. Annual reports.

Section 59-109-180. Chapter as supplemental; authority not subject to regulation, approval, or consent of other agencies or the like.