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2021 South Carolina Code of Laws
Title 11 - Public Finance
Chapter 15 - Bonds Of Political Subdivisions
Section 11-15-590. Deposit and use of proceeds.
Universal Citation: SC Code § 11-15-590 (2021)
The proceeds derived from the sale of these bonds must be deposited in a special fund, separate and distinct from all other funds, and applied solely to the purposes for which the bonds are issued, except that the accrued interest, if any, must be used to discharge in part the first interest to become due on the bonds.
HISTORY: 1962 Code Section 1-699; 1952 Code Section 1-699; 1951 (47) 755; 2004 Act No. 184, Section 1.
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