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107 chapters · 2,052 sections in this title.
S.C. Code Ann. § 59-109-10 Short title
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This chapter, when codified, may be referred to and cited as the "Educational Facilities Authority Act for Private Nonprofit Institutions of Higher Learning."
S.C. Code Ann. § 59-109-100 Trust agreement to secure bonds
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(A) In the discretion of the authority any bonds issued under the provisions of this chapter may be secured by a trust agreement by and between the authority and a corporate trustee, which may be any trust company or bank having the powers of a trust company within the State. Any…
S.C. Code Ann. § 59-109-110 Bonds not considered debt or liability of State or any political subdivision
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Bonds issued under the provisions of this chapter shall not be considered to constitute a debt or liability of the State or of any political subdivision thereof or a pledge of the faith and credit of the State or of any such political subdivision, but shall be payable solely from…
S.C. Code Ann. § 59-109-120 Institutions to complete projects if bond proceeds insufficient; payments required; disposition of monies received
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Every financing agreement shall contain covenants obligating such participating institution for higher learning to effect the completion of the project if the proceeds of the bonds available therefor prove insufficient. Every financing agreement shall obligate the participating i…
