Upon receiving the approval of the State Fiscal Accountability Authority or Department of Administration, as appropriate, and upon review of the Bond Review Committee created by Section 2-47-20, the trustees shall be permitted to issue, from time to time, revenue bonds or notes, provided that not more than ten million dollars of such obligations may be outstanding at any one time. The trustees are also hereby authorized to refund all or any part of any outstanding revenue bonds of the Medical University payable in whole or in part from the revenues also pledged to the payment of bonds issued pursuant to Sections 59-123-210 through 59-123-320 and which are outstanding on the occasion of any such refunding. So much of the proceeds of the loans herein authorized as shall not be required to retire outstanding bonds shall be used in the construction, reconstruction, and equipping of dormitories and buildings designed for student and faculty housing, and auxiliary and related facilities, to be located on lands owned by the Medical University. Such buildings, when constructed, shall be used for the purpose of providing housing, and auxiliary and related facilities, for students and faculty of the Medical University.
HISTORY: 1982 Act No. 392, Section 3.
Structure South Carolina Code of Laws
Chapter 123 - The Medical University Of South Carolina
Section 59-123-20. Acceptance of transfer of property.
Section 59-123-30. Charter confirmed.
Section 59-123-40. Composition of board of trustees.
Section 59-123-50. Election of board members; terms.
Section 59-123-70. Annual report of board.
Section 59-123-90. Board vested with power of eminent domain.
Section 59-123-95. Board may borrow to purchase diagnostic and therapeutical equipment.
Section 59-123-100. Rules governing admissions not changed.
Section 59-123-110. College of Dental Medicine established.
Section 59-123-115. Area Health Education Consortium; funding formula; expenditure of funds.
Section 59-123-125. Rural Physician Program; administration of funds; membership of managing board.
Section 59-123-230. Bonds payable from net housing revenues.
Section 59-123-240. Credit of state not to be pledged; trustees not liable on bonds.
Section 59-123-260. Form of bonds.
Section 59-123-270. Bonds and interest tax exempt.
Section 59-123-280. Bonds as legal investments for certain purchasers.
Section 59-123-290. Execution of bonds.
Section 59-123-300. Sale of bonds.
Section 59-123-310. Powers and duties of trustees with respect to bonds.