The faith and credit of the State must not be pledged for the payment of the principal and interest of such bonds, and there must be on the face of each bond a statement plainly worded to that effect. Neither the visitors nor any other person signing the bonds is personally liable therefor.
HISTORY: 2000 Act No. 356, Section 2(B).
Structure South Carolina Code of Laws
Chapter 121 - The Citadel, The Military University Of South Carolina
Section 59-121-10. Board of visitors; composition.
Section 59-121-15. Authority to change title of The Citadel; conditions.
Section 59-121-20. Terms of board members.
Section 59-121-30. Election of board members; age limit.
Section 59-121-40. Board created body corporate and politic; general powers.
Section 59-121-50. Powers of board in educational matters.
Section 59-121-60. Quorum at special meeting of board.
Section 59-121-70. Annual report of board.
Section 59-121-80. Burial of past presidents and their wives.
Section 59-121-320. Definitions.
Section 59-121-340. Authorization to borrow funds and issue bonds; amount limitations.
Section 59-121-350. Sources of funds to secure bonds; disposition of athletic facilities
Section 59-121-370. Resolutions for issuance of bonds; contents and conditions.
Section 59-121-380. Tax exempt status.
Section 59-121-390. Fiduciaries as authorized investors.
Section 59-121-410. Disposition of bonds; private sale; discounts or premiums.
Section 59-121-430. Provisions for adequate payment of principal and interest on bonds.
Section 59-121-440. Powers vested in visitors to secure payment of principal and interest on bonds.
Section 59-121-450. Duration of authorizations granted by article; time limit for issuance of bonds.