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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 11-17-70. Notes secured by full faith, credit, and taxing power of borrower.
Universal Citation: SC Code § 11-17-70 (2021)
Notes issued pursuant to this chapter in anticipation of the issuance of general obligation bonds shall be general obligations of the borrower also secured by a pledge of the full faith, credit and taxing power of the borrower, and any governing body is authorized to make such a pledge in the proceedings providing for the issuance of any notes pursuant to this chapter in anticipation of the issuance of general obligation bonds.
HISTORY: 1962 Code Section 1-625.1; 1969 (56) 809.
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