South Carolina Code of Laws
Chapter 133 - Francis Marion University
Section 59-133-250. Repayment of bonds; abandonment or sale of facility.

Bonds issued pursuant to this article are payable from the revenues or the net revenues as designated by the trustees, as well as from proceeds of the admissions fee and the special student fee. Bonds issued pursuant to this article may be further secured by such additional pledges of other revenues or fees of Francis Marion as Francis Marion may be authorized to grant pursuant to other laws of this State. The trustees may abandon the use of any portion of the athletic facilities or sell or dispose of any portion of the athletic facilities upon the receipt of a written recommendation by the chief financial officer of Francis Marion to the effect that such action does not adversely affect the ability of Francis Marion to discharge its obligations to the holders of bonds issued pursuant to this article and upon such further conditions as prescribed in the resolution of the trustees providing for the issuance of bonds.
HISTORY: 2008 Act No. 355, Section 8, eff June 25, 2008.

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