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2021 South Carolina Code of Laws
Title 11 - Public Finance
Chapter 41 - State General Obligation Economic Development Bond Act
Section 11-41-130. Payment of principal and interest.
Universal Citation: SC Code § 11-41-130 (2021)
For the payment of the principal and interest on all bonds issued and outstanding pursuant to this chapter there is pledged the full faith, credit, and taxing power of this State, and in accordance with the provisions of Section 13(4), Article X of the Constitution of this State, 1895, the General Assembly allocates on an annual basis sufficient tax revenues to provide for the punctual payment of the principal and interest on the debt authorized by this chapter.
HISTORY: 2002 Act No. 254, Section 1.
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