The faith and credit of the State of South Carolina is not pledged for the payment of the principal and interest of the bonds, and there must be on the face of each bond a statement plainly worded to that effect. Neither the members of the board nor any other person signing the bonds are personally liable for them.
HISTORY: 1989 Act No. 102, Section 2.
Structure South Carolina Code of Laws
Chapter 122 - The Citadel Housing Revenue Bonds
Section 59-122-10. Definitions.
Section 59-122-30. Disposition of proceeds from sale of bonds.
Section 59-122-40. Requirements for issuance of bonds.
Section 59-122-50. Security for payment of bonds.
Section 59-122-70. Issuance of bonds.
Section 59-122-90. Bonds and interest exempt from taxation.
Section 59-122-100. Investment in bonds by fiduciaries permitted.
Section 59-122-110. Sale of bonds by board; notice.