The bonds issued pursuant to this chapter are special obligations of the joint agency issuing them. The principal and interest and any premium on the bonds are not payable from the general fund of the joint agency, nor are they a legal or equitable pledge, charge, lien, or encumbrance upon any of its property, income, receipts, or revenues, except the funds which are pledged pursuant to the resolution authorizing the bonds or the trust agreement securing the bonds. A bond must recite in substance that the principal of and interest on the bond is payable only from the revenues pledged to its payment and that the joint agency is not obligated to pay the principal or interest except from those revenues.
HISTORY: 2003 Act No. 8, Section 2, eff April 21, 2003.
Structure South Carolina Code of Laws
Section 6-24-30. Power to enter into agreements with other governmental entities.
Section 6-24-40. Creation of joint agency; finding of best interest; notice of adoption.
Section 6-24-60. Board of directors; election of officers; quorum; compensation.
Section 6-24-90. Executive committee.
Section 6-24-100. Rights and powers of joint agency.
Section 6-24-110. Contracts between joint agencies and governmental entities.
Section 6-24-120. Power to incur debt and enter into supply and financial management agreements.
Section 6-24-130. Assurance of payment of principal or interest on bonds.
Section 6-24-140. Issuance of bonds; use of proceeds.
Section 6-24-150. Trust agreements for issuance of bonds.
Section 6-24-160. Payment of bonds, expenses and other obligations; pledge and resulting lien.
Section 6-24-170. Investment of monies from bond.
Section 6-24-180. Enforcement of bonds.
Section 6-24-190. Bonds as investment securities.
Section 6-24-200. Investment in bonds by guardians and other fiduciaries.
Section 6-24-210. Bonds as special obligations; revenues pledged to payment.
Section 6-24-220. Issuance of refunding bonds.
Section 6-24-230. Rights of personnel.
Section 6-24-240. Annual report; audit.
Section 6-24-250. Contracts with federal and other state government agencies; grants and loans.
Section 6-24-260. Eminent domain.
Section 6-24-270. Immunity from personal liability.
Section 6-24-280. Relation of Chapter to existing laws.