The bonds must be signed in the corporate name of the university by the manual or facsimile signature of the acting chairman of the board of the university, under the corporate seal of the university attested by the manual or facsimile signature of the acting secretary of the board. Any interest coupons attached to the bonds must be signed by the facsimile signatures of these officers. The bonds may be issued notwithstanding that any of the officials signing them or whose facsimile signatures appear on the coupons have ceased to hold office at the time of the issue or at the time of the delivery of the bonds to the purchaser.
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.