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2021 South Carolina Code of Laws
Title 11 - Public Finance
Chapter 15 - Bonds Of Political Subdivisions
Section 11-15-470. Maturities.
Universal Citation: SC Code § 11-15-470 (2021)
Such refunding bonds shall mature in such annual series or installments, equal or unequal in amount, as the governing body shall provide, except that:
(1) The first maturing bonds shall mature within five years from the date as of which they are issued;
(2) Not less than two per cent of the aggregate of the issue shall mature in any year; and
(3) No bonds shall mature later than forty years from the date as of which they are issued.
HISTORY: 1962 Code Section 1-687; 1952 Code Section 1-687; 1951 (47) 755.
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