2015 South Carolina Code of Laws
Title 59 - Education
CHAPTER 71 - SCHOOL BONDS
Section 59-71-560. Use of proceeds; segregation for different uses.
The proceeds derived from the sale of State school bonds shall be applied by the Board only to the purposes for which the bonds are issued, and, if it shall be provided that a part of the proceeds of an issue of bonds shall be allocated to school districts for capital improvements and other purposes and another part be applied to defray the cost of school bus equipment, the State Treasurer shall, upon the receipt of the proceeds of such bonds, segregate such proceeds in accordance with the provisions of the request made to the Governor and the State Treasurer pursuant to the provisions of Section 59-71-430.
HISTORY: 1962 Code Section 21-1000.1; 1952 Code Section 21-1000.1; 1951 (47) 546; 1967 (55) 719.
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