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2021 South Carolina Code of Laws
Title 11 - Public Finance
Chapter 21 - Advanced Refunding Of Bonds Of Public Agencies
Section 11-21-50. Optional redemption; agreement as to use of proceeds; notice.
Universal Citation: SC Code § 11-21-50 (2021)
The governing board shall not be required to effect the payment or redemption of the outstanding bonds through the means of any optional redemption provision and it may provide in the agreement required by Section 11-21-60 that the proceeds of the refunding bonds be used for the payment of the outstanding bonds as and when the same mature. Whenever refunding bonds are issued pursuant to this chapter, the public agency issuing such bonds shall give published notice in a financial paper published in the City of New York of the purpose for which the proceeds of the refunding bonds will be used.
HISTORY: 1962 Code Section 1-635; 1965 (54) 551; 1981 Act No. 50, Section 2.
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