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2017 South Carolina Code of Laws
Title 58 - Public Utilities, Services and Carriers
CHAPTER 31 - PUBLIC SERVICE AUTHORITY
Section 58-31-130. Credit and taxing power of the State and its subdivisions shall not be involved; liability for payment of securities.
Universal Citation: SC Code § 58-31-130 (2017)
Nothing contained in the provisions of this chapter shall, at any time or in any manner, involve the credit and taxing power of the State, or of any of its political subdivisions; nor shall any of the securities or other evidences of indebtedness authorized to be issued in and by this chapter ever be or constitute obligations of the State or of any of its political subdivisions; nor shall the State or any of its political subdivisions ever be liable or responsible, in any way, for the payment of the principal or interest of or on such security or other evidences of indebtedness.
HISTORY: 1962 Code Section 59-11; 1952 Code Section 59-11; 1942 Code Section 8555-21; 1934 (38) 1507.
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