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2017 South Carolina Code of Laws
Title 6 - Local Government - Provisions Applicable to Special Purpose Districts and Other Political Subdivisions
CHAPTER 21 - REVENUE BOND ACT FOR UTILITIES
Section 6-21-490. Disposition of surplus in depreciation fund.
Universal Citation: SC Code § 6-21-490 (2017)
If any surplus shall be accumulated in the depreciation fund over and above that which the governing body shall find may be necessary therein during the then present calendar, operating or fiscal year and the next ensuing calendar, operating or fiscal year, any such excess may be transferred to the contingent fund or the bond and interest redemption fund.
HISTORY: 1962 Code Section 59-407; 1952 Code Section 59-407; 1942 Code Section 9268; 1933 (38) 411.
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