2013 South Carolina Code of Laws
Title 59 - Education
CHAPTER 122 - THE CITADEL HOUSING REVENUE BONDS
SECTION 59-122-50. Security for payment of bonds.
The Citadel may pledge any part or all of the revenues or net revenues derived or to be derived from any or all of the facilities as security for the payment of any bonds. In addition, The Citadel may pledge any gifts, donations, and funds, other than appropriated state funds, and the income from those sources to which The Citadel is entitled, as security for the payment of any bonds. As additional security, The Citadel may establish a reserve fund, which may be funded from the proceeds of the bonds, to provide for payment on the bonds.
HISTORY: 1989 Act No. 102, Section 2.
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