2021 South Carolina Code of Laws
Title 11 - Public Finance
Chapter 17 - Borrowing By State, State Agencies, And Political Units In Anticipation Of Issuance Of Bonds
Section 11-17-10. Definitions.
(a) The term "bonds" shall mean general obligation bonds payable from ad valorem taxes, general obligation bonds additionally secured by any pledge of any assessments, or any pledge of revenues derived by the borrower from any revenue-producing facility, bonds payable solely from the revenues of any revenue-producing facility, and bonds payable solely from any assessments. The term "bonds" shall also include state highway bonds as defined pursuant to the provisions of item (10) of Section 57-11-210, as amended.
(b) The term "borrower" shall mean the State, any agency, department or institution of the State, any county, any incorporated city or town, any school district, any special purpose district, and all other political units now existing or hereafter created, which are appropriately authorized to borrow money and issue bonds.
(c) The term "governing body" shall mean that agency or body upon which is devolved by law the administrative and executive functions of the borrower.
(d) The term "person" shall mean any person, firm, corporation or governmental agency.
HISTORY: 1962 Code Section 1-621; 1965 (54) 150; 1993 Act No. 181, Section 92.
