2021 South Carolina Code of Laws
Title 11 - Public Finance
Chapter 40 - South Carolina Infrastructure Facilities Authority Act
Section 11-40-120. Bonds to be authorized by resolution; requirements for bonds.
The bonds of the authority must be authorized by a resolution of the authority and must be in the form and executed in the manner provided in the bond resolution. The bonds shall bear the date and mature at the time which the bond resolution provides, except that no bond may mature more than thirty years from its date of issue. The bonds may be in the denominations, be executed in the manner, be payable in the medium of payment, be payable at the place at the time, and be subject to redemption or repurchase and contain other provisions determined by the authority. The bonds may bear interest payable at a time and at a rate as determined by the authority, including the determination of interest rates by agents designated by the authority under guidelines established by it. Bonds may be sold by the authority at public or private sale at the price it determines and approves.
HISTORY: 1994 Act No. 525, Section 2.
