No free service shall be furnished by any such system, project or combined system to the municipality owning it or to any agency, instrumentality or person. The reasonable cost and value of any service rendered to any such borrower by any such system, project or combined system shall be charged against the borrower and shall be paid for monthly as the service accrues from the current funds or from the proceeds of taxes which the borrower, within constitutional limitations, is hereby authorized and required to levy in an amount sufficient for that purpose, and such funds, when so paid, shall be accounted for in the same manner as other revenues of such system, project or combined system.
HISTORY: 1962 Code Section 59-399; 1952 Code Section 59-399; 1942 Code Section 9260; 1933 (38) 411.
Structure South Carolina Code of Laws
Chapter 21 - Revenue Bond Act For Utilities
Section 6-21-5. Transportation authorities; power to establish and finance.
Section 6-21-10. "Borrower" defined.
Section 6-21-20. "Governing body" defined.
Section 6-21-30. "Municipality" defined.
Section 6-21-40. "System" defined.
Section 6-21-45. Definition of "hospitals, nursing home and care facilities".
Section 6-21-50. Authorized public works which may be purchased or constructed.
Section 6-21-70. Joint projects.
Section 6-21-80. Improvement of existing system.
Section 6-21-90. Construction on private property.
Section 6-21-100. Construction and operation of works; acquisition of property.
Section 6-21-110. Condemnation of property.
Section 6-21-130. Option or contract of purchase.
Section 6-21-140. Estimate of cost of system.
Section 6-21-150. Estimate of repairs and betterments when existing works acquired.
Section 6-21-160. Ordinances or resolutions which may be adopted for purposes of chapter.
Section 6-21-180. Acceptance of Federal loans and grants.
Section 6-21-190. Bond issues authorized.
Section 6-21-200. Bonds shall not be subject to certain limitations.
Section 6-21-210. Bond issue must be authorized by ordinance or resolution.
Section 6-21-220. Terms, form and execution of bonds.
Section 6-21-230. Additional provisions as to form of bonds.
Section 6-21-250. Undelivered bonds executed by ex-officers shall be valid.
Section 6-21-260. Bonds shall be negotiable.
Section 6-21-270. Bonds shall be tax exempt.
Section 6-21-280. Sale of bonds.
Section 6-21-290. Bonds shall be legal investments.
Section 6-21-300. Deposit of and security for proceeds from bonds.
Section 6-21-310. Use of proceeds from bonds.
Section 6-21-320. Payment of bonds before maturities.
Section 6-21-330. Statutory lien of bondholders on system or project.
Section 6-21-340. Pledge of water revenues for water and sewer system.
Section 6-21-350. Enforcement of lien of bondholders.
Section 6-21-360. Appointment and powers of receiver.
Section 6-21-370. Additional bonds for further improvements.
Section 6-21-380. Revenue refunding bonds.
Section 6-21-390. Rates for service.
Section 6-21-400. Rates shall not be subject to regulations; permits shall not be required.
Section 6-21-410. Payment for service by borrower.
Section 6-21-420. Accounting basis of system or project.
Section 6-21-430. Custodian of Gross Revenues; Funds shall be In Form of Trust.
Section 6-21-440. Segregation of revenues to several funds.
Section 6-21-450. Payment of expenses of operation or maintenance from other funds.
Section 6-21-460. Bonds payable only from bond and interest redemption fund.
Section 6-21-470. Excess contributions to bond and interest redemption fund.
Section 6-21-480. Disposition of surplus in operation and maintenance fund.
Section 6-21-490. Disposition of surplus in depreciation fund.
Section 6-21-500. Disposition of surplus in contingent fund.
Section 6-21-510. Books and accounts; annual report; inspection.
Section 6-21-520. Limitation on obligation which may be incurred by municipality.
Section 6-21-530. Issuance of bonds without election or notice.
Section 6-21-540. Effect of former Public Works Administration Act.
Section 6-21-550. Effect of chapter on existing contracts and liens.