All provisions of a resolution authorizing or providing for the issuance of the bonds in accordance with Section 59-147-40 and of the covenants and agreements constitute valid and legally binding contracts between the university and the several holders of the bonds, regardless of the time of issuance of the bonds, and are enforceable by the holder or holders by mandamus or other appropriate action, suit, or proceeding at law or in equity in any court of competent jurisdiction.
HISTORY: 1996 Act No. 302, Section 1.
Structure South Carolina Code of Laws
Chapter 147 - Higher Education Revenue Bond Act
Section 59-147-10. Short title.
Section 59-147-20. Definitions.
Section 59-147-30. Issuance of revenue bonds; purpose.
Section 59-147-40. Requirement of university board resolution; content of authorizing resolution.
Section 59-147-50. Authorized revenue bonds; terms; negotiability.
Section 59-147-60. Bond exemptions.
Section 59-147-70. Signature of bonds.
Section 59-147-80. Sale of bonds.
Section 59-147-90. Required filing of obligation with State Treasurer.
Section 59-147-100. Effect of authorizing resolution to issue bonds; enforceability of contract.
Section 59-147-110. Sources of revenue or funds for payment of bonds; liability of signers.