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2021 South Carolina Code of Laws
Title 11 - Public Finance
Chapter 43 - South Carolina Transportation Infrastructure Bank Act
Section 11-43-540. Limitations; review by Joint Bond Review Committee; payment of principal and interest.
Universal Citation: SC Code § 11-43-540 (2021)
The issuance of transportation infrastructure bonds is subject to the limitations contained in Section 13(6)(c), Article X of the Constitution of this State. Within such limitations, transportation infrastructure bonds may be issued for qualified projects or to refund transportation infrastructure bonds from time to time under the conditions prescribed by this article. The review and approval of the Joint Bond Review Committee must be obtained prior to the issuance of any transportation infrastructure bonds. No transportation infrastructure bonds may be issued unless the board has a source of revenues to pay the principal and interest on the bonds.
HISTORY: 1997 Act No. 148, Section 2; 2004 Act No. 184, Section 11.
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