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South Carolina Statutes, Title 11

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South Carolina/Statutes

← All South Carolina coverage

Title 11, Public Finance

40 chapters · 702 sections in this title.

All chapters in Title 11702 Ch 35, Title 11, Chapter 35139 Ch 9, Title 11, Chapter 953 Ch 43, Title 11, Chapter 4345 Ch 5, Title 11, Chapter 535 Ch 15, Title 11, Chapter 1535 Ch 11, Title 11, Chapter 1134 Ch 37, Title 11, Chapter 3728 Ch 40, Title 11, Chapter 4027 Ch 3, Title 11, Chapter 320 Ch 50, Title 11, Chapter 5020 Ch 41, Title 11, Chapter 4119 Ch 49, Title 11, Chapter 4917 Ch 57, Title 11, Chapter 5717 Ch 1, Title 11, Chapter 115

12 sections·Filtered byTitle 11✕Ch 17✕

S.C. Code Ann. § 11-17-10 Definitions
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(a) The term "bonds" shall mean general obligation bonds payable from ad valorem taxes, general obligation bonds additionally secured by any pledge of any assessments, or any pledge of revenues derived by the borrower from any revenue-producing facility, bonds payable solely from…
S.C. Code Ann. § 11-17-100 Application of proceeds of bonds to payment of notes
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Upon delivery of the bonds in anticipation of which a note or notes pursuant to this chapter have been issued, sufficient of the proceeds of such bonds shall be applied by the borrower to meet the payment of the principal and interest of such notes, unless the stated maturity of …
S.C. Code Ann. § 11-17-110 Tax exempt status of notes
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All notes issued pursuant to this chapter and all interest to accrue thereon shall have the tax exempt status prescribed by SECTION 12-1-60.
S.C. Code Ann. § 11-17-120 Determining whether bonds for funding bond anticipation notes are issued within prescribed time limitation
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Whenever, after the issuance of general obligation bond anticipation notes, it becomes necessary to determine whether or not general obligation bonds issued to provide funds with which to pay such notes (or any notes refunding such notes) have been issued within any time limitati…

S.C. Code Ann. § 11-17-20 Borrowing in anticipation of receipt of proceeds of bonds authorized; debt evidenced by note; form and terms of notes

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Any borrower, whenever authorized by general or special law, to issue bonds, may, pending the sale and issuance thereof, but within the limitations set forth in SECTION 11-17-60 of this chapter, borrow in anticipation of the receipt of the proceeds of bonds from any person, and e…

S.C. Code Ann. § 11-17-30 Use of other funds for payment of notes

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It shall at all times be lawful for any borrower to utilize any other funds applicable therefor for the payment of the principal and interest of the note.

S.C. Code Ann. § 11-17-40 Manner of issuing notes

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The governing body may arrange the issuance of notes authorized by this chapter by negotiation or may cause them to be advertised and bids therefor received, under such conditions as the governing body shall prescribe.

S.C. Code Ann. § 11-17-50 Necessity of holding election before issuance of notes

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Whenever the favorable result of an election is prescribed by the Constitution or applicable statute as a condition precedent to the issuance of bonds by the borrower, then prior to the issuance of any notes pursuant to this chapter, the election shall have been held and shall ha…

S.C. Code Ann. § 11-17-60 Resolution of governing body; consent or approval required; renewal or refunding

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Prior to the issuance of notes pursuant to this chapter, the governing body of the borrower shall adopt a resolution obligating the borrower to issue and sell, in the manner prescribed by law, bonds of the borrower in a specified amount and notes of the borrower may be issued pur…

S.C. Code Ann. § 11-17-70 Notes secured by full faith, credit, and taxing power of borrower

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Notes issued pursuant to this chapter in anticipation of the issuance of general obligation bonds shall be general obligations of the borrower also secured by a pledge of the full faith, credit and taxing power of the borrower, and any governing body is authorized to make such a …

S.C. Code Ann. § 11-17-80 Purpose of bonds deemed to include payment of notes

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Whenever any borrower shall be authorized to issue bonds for any specific purpose, the purpose shall be deemed to include the monies required to meet the payment of the principal and interest of notes issued pursuant to this chapter.

S.C. Code Ann. § 11-17-90 Application of proceeds of notes

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It shall be the duty of the governing body to apply the proceeds of any notes issued pursuant to this chapter to the purpose for which bonds are to be issued, but no purchaser of any notes shall be liable for the proper application of the proceeds.