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2019 South Carolina Code of Laws
Title 6 - Local Government - Provisions Applicable to Special Purpose Districts and Other Political Subdivisions
Chapter 11 - Special Purpose Or Public Service Districts Generally
Section 6-11-2140. Winding up of district affairs.
Universal Citation: SC Code § 6-11-2140 (2019)
When each successor provider has adopted a confirming resolution or ordinance, the governing body of each and of the district shall agree to an orderly winding up of the affairs of the district. Dissolution is not effective before the time as all general obligation debt, revenue debt, lease-purchase obligations, and other obligations, except those obligations which a successor provider may lawfully assume with the consent of the holder thereof, have been paid in full or legally defeased.
HISTORY: 1998 Act No. 397, Section 3.
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