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Definitions. State Financing and Investment Commission. General obligation and guaranteed revenue debts; sinking and common reserve funds; appropriations; investments; taxation to pay debt service requirements. Authority to incur public debt; purposes; limitations. Incurring public debt by resolution; sale of evidences of indebtedness; form of obligations; validation of bonds; civil claims and actions. Evidences of indebtedness generally; accrual of interest; paying agent; executory contracts; audits; legal services. Application and investment of public debt proceeds by commission and by the Environmental Finance Authority. Bond security contracts prohibited. Miscellaneous pledges, authorizations, and exemptions. Liability of public officers and employees. Article 3 State Depositories 50-17-50. Creation of State Depository Board; membership; quorum; assignment for administrative purposes. 50-17-50.1. Authority to vote.