The state school facilities bonds must bear the date and mature at the time that the resolution provides, except that no state school facilities bond may mature more than thirty years from its date of issue. The state school facilities bonds may be in the denominations, be payable in the medium of payment, be payable at the place and at the time, and be subject to redemption or repurchase and contain other provisions determined by the State Fiscal Accountability Authority before their issuance. The bonds may bear interest payable at the times and at the rates as determined by the State Fiscal Accountability Authority.
HISTORY: 1999 Act No. 28, Section 1.
Structure South Carolina Code of Laws
Chapter 146 - State School Facilities Bonds Act
Section 59-146-10. Short title.
Section 59-146-20. Purpose of chapter to assist school districts to provide educational facilities.
Section 59-146-30. Definitions.
Section 59-146-40. School facilities bonds.
Section 59-146-60. State Board of Education notification to State Fiscal Accountability Authority.
Section 59-146-90. Terms of state school facilities bonds.
Section 59-146-100. Tax exemption of state school facilities bonds.
Section 59-146-110. Execution and authentication of state school facilities bonds.
Section 59-146-120. Payment of principal and interest.
Section 59-146-130. Sale of state school facilities bonds.
Section 59-146-140. Proceeds of sale of state school facilities bonds.
Section 59-146-150. Investment in state school facilities bonds by fiduciaries.
Section 59-146-160. Allocation of proceeds of sale of state school facilities bonds.
Section 59-146-180. Qualification of school districts for funds.