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2018 South Carolina Code of Laws
Title 11 - Public Finance
CHAPTER 43 - SOUTH CAROLINA TRANSPORTATION INFRASTRUCTURE BANK ACT
Section 11-43-320. Pledges of revenue or funds to bond payment; bonds secured by pledge.
Universal Citation: SC Code § 11-43-320 (2018)
The bank may pledge any of its revenue or funds to the payment of its bonds, subject only to any prior agreements with the holders of particular bonds which may have pledged specific money or revenue. Bonds may be secured by a pledge of any loan obligation owned by the bank, any grant, contribution, or guaranty from the United States, the State, or any corporation, association, institution, or person, any other property or assets of the bank, or a pledge of any money, income, or revenue of the bank from any source.
HISTORY: 1997 Act No. 148, Section 2.
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