Research About Meet PRIA

Support Data Sources Privacy Policy Terms of Servicehello@policyrisk.com

© 2026 PRIA Technologies, LLC. All rights reserved.

PRIA provides educational policy intelligence and is not a source of investment, legal, or financial advice. Content is for informational purposes only.

™

Your Policy Risk Impact Agent

Research

At My Address
Federal Courts
Daily Briefings
Medicare & Social Security
Policy Risk Index
Congressional Bills
Federal Register
Tariffs
Fed Decisions & The Economy
State Tracker
World Watch
U.S. Code
U.S. Constitution
Aliens

Knowledge

Search Polipedia
Daily Briefings
Calculators
Policy Risk Index
What is Policy Risk?
The Countdown

Company

About PRIA
Support

Get PRIA

Support Data Sources Privacy Policy Terms of Service

hello@policyrisk.com

© 2026 PRIA Technologies, LLC. All rights reserved.

PRIA is a trademark of PRIA Technologies, LLC.

PRIA provides educational policy intelligence and is not a source of investment, legal, or financial advice. Content is for informational purposes only.

South Carolina Statutes, Title 59

™

Your Policy Risk Impact Agent

South Carolina/Statutes

← All South Carolina coverage

Title 59, Education

106 chapters · 2,049 sections in this title.

All chapters in Title 592,049 Ch 53, Title 59, Chapter 53153 Ch 63, Title 59, Chapter 6396 Ch 25, Title 59, Chapter 2565 Ch 67, Title 59, Chapter 6764 Ch 119, Title 59, Chapter 11959 Ch 1, Title 59, Chapter 158 Ch 21, Title 59, Chapter 2152 Ch 19, Title 59, Chapter 1949 Ch 29, Title 59, Chapter 2949 Ch 150, Title 59, Chapter 15049 Ch 101, Title 59, Chapter 10144 Ch 125, Title 59, Chapter 12543 Ch 31, Title 59, Chapter 3142 Ch 71, Title 59, Chapter 7141

41 sections·Filtered byTitle 59✕Ch 71✕

S.C. Code Ann. § 59-71-10 Short title
0.1K chars
This article may be cited as the "School Bond Act."
S.C. Code Ann. § 59-71-100 Place of payment
0.1K chars
The bonds issued pursuant to this article shall be made payable at such places, within or without the State, as the authorities shall provide.
S.C. Code Ann. § 59-71-110 Interest rate
0.1K chars
Such bonds shall bear interest at rates to be named by the authorities.
S.C. Code Ann. § 59-71-120 Execution of bonds
0.1K chars
Such bonds and the coupons annexed thereto shall be executed in the manner provided for by the authorities.
S.C. Code Ann. § 59-71-130 Sale of bonds
0.6K chars
The bonds shall be sold at public sale, after advertisement of such sale in a newspaper having general circulation in the State or in a financial publication published in the city of New York or, in the discretion of the authorities, in both such publications. Such advertisement …

S.C. Code Ann. § 59-71-140 Minimum sales price

0.1K chars

All such bonds must be sold at a price of not less than par and accrued interest to the date of delivery.

S.C. Code Ann. § 59-71-150 Credit pledged for payment; tax

0.7K chars

For the payment of the principal and interest on such bonds as they respectively mature and for the creation of such sinking fund as may be necessary therefor the full faith, credit and resources of the operating school unit are irrevocably pledged and there shall be levied annua…

S.C. Code Ann. § 59-71-155 General obligation bonds; transfers from state general fund to make payments on bonded indebtedness of school districts; maximum amount allowed for transfers

3.7K chars

(A) This section applies to existing and future general obligation bonds issued by an operating school unit. For purposes of this section, general obligation bonds are obligations expressly secured by the full faith, credit, and taxing power of the operating school unit that issu…

S.C. Code Ann. § 59-71-160 Exemption of bonds from taxes

0.2K chars

Bonds issued under this article shall be exempt from all State, county, municipal, school district and other taxes or assessments, direct or indirect, general or special, whether imposed for the purpose of general revenue or otherwise.

S.C. Code Ann. § 59-71-170 Bonds as legal investments

0.2K chars

It shall be lawful for all executors, administrators, guardians, committees and other fiduciaries and all sinking fund commissions to invest any moneys in their hands in bonds issued under this article.

S.C. Code Ann. § 59-71-180 Deposit and use of proceeds

0.4K chars

The proceeds derived from the sale of the bonds must be deposited with the treasurer of the county in which the operating school unit is located, in whole or in part, in a special fund to the credit of the operating school unit and must be applied solely to the purposes for which…

S.C. Code Ann. § 59-71-190 Investment of sinking funds in defense securities

0.3K chars

The county treasurers of the various counties of the State may invest the sinking funds of the school districts of their respective counties in United States Defense Bonds and Defense Securities upon the written request of the county superintendent of education and a majority of …

S.C. Code Ann. § 59-71-20 Definitions

1.1K chars

As used in this article: (1) The word "authorities" shall mean the board of trustees or the commission vested by law with the duty of operating the public schools in any particular district, unit or county of the State; (2) The term "operating school unit" shall mean any type of …

S.C. Code Ann. § 59-71-30 Authorities of operating school units authorized to issue general obligation bonds

0.6K chars

The authorities of any operating school unit may issue general obligation bonds of such operating school unit for the purpose of defraying the cost of capital improvements to any amount not exceeding the constitutional debt limitation applicable to such operating school unit, if:…

S.C. Code Ann. § 59-71-310 Resolution of school district concerning bonds in default

0.8K chars

The district board of any school district authorized to issue general obligation bonds of the school district is hereby authorized to provide by resolution duly adopted that if the principal or interest of any general obligation bonds issued by the school district are not paid wh…

S.C. Code Ann. § 59-71-320 Duties of State Treasurer

1.0K chars

Upon adoption of the resolution, a copy shall be transmitted to the State Treasurer together with a concise statement showing the principal and estimated interest payments to become due on the bonds to be issued. If the State Treasurer determines (a) that sufficient funds can rea…

S.C. Code Ann. § 59-71-330 Rules and regulations

0.7K chars

The State Treasurer is hereby authorized to prescribe rules and regulations (a) requiring the filing of such information as he deems pertinent with respect to bonds to be sold with the provision authorized by Section 1 of 1973 Act No. 378, (b) requiring school districts issuing b…

S.C. Code Ann. § 59-71-340 Levy of additional tax

0.6K chars

The State Comptroller is directed in any year to levy and the State Treasurer is directed to collect in any school district which does not levy adequate millage for that year, to provide debt service to become due on bonds sold with the provision authorized by Section 1 of 1973 A…

S.C. Code Ann. § 59-71-40 Election

0.9K chars

The election hereby required shall be ordered by the authorities, who shall fix the date thereof and prescribe the form of the notice of the holding of the election. Advices of the action thus taken by the authorities shall be transmitted to the commissioners of election for the …

S.C. Code Ann. § 59-71-410 Authority to issue State school bonds

0.7K chars

For the purpose of enabling the State Board of Education to raise funds for capital improvements and other purposes in addition to those funds provided by Article 3 of Chapter 21 of this Title, for the purpose of enabling the Board to raise funds necessary to acquire the school b…

S.C. Code Ann. § 59-71-420 Limits on aggregates of indebtedness; maturity date

0.8K chars

The aggregate outstanding principal indebtedness on account of bonds issued for capital improvements and other purposes, after deducting that part of any sinking fund applicable to the retirement of bonds issued for such purposes, shall never exceed one hundred thirty-seven milli…

S.C. Code Ann. § 59-71-430 Request for issuance of bonds

1.1K chars

Before any State school bonds are issued, the State Board of Education shall transmit to the Governor and to the State Treasurer a request for the issuance thereof and shall embody in such request: (a) A schedule showing the aggregate of bonds issued pursuant to previous requests…

S.C. Code Ann. § 59-71-440 Conditions warranting issuance of bonds

1.1K chars

If the following shall appear to the satisfaction of the Governor and the State Treasurer from the foregoing request: (a) That the amount of revenues derived from the retail sales tax received during the next preceding fiscal year will, if received annually thereafter, be suffici…

S.C. Code Ann. § 59-71-450 Form of bonds; time, place, and medium of payment

0.2K chars

The State school bonds shall be issued in such form and with such provisions as to time, place or places and medium of payment as may be determined by the Governor and the State Treasurer, subject to the provisions of this article.

S.C. Code Ann. § 59-71-460 Denomination of bonds

0.1K chars

State school bonds shall each be in the denomination of one thousand dollars or some multiple thereof.

S.C. Code Ann. § 59-71-470 Form of bonds; registration

1.1K chars

State school bonds issued pursuant to this article may be in the form of negotiable coupon bonds, payable to bearer, with the privilege to the holder of having them registered in his name on the books of the State Treasurer as to principal only, or as to both principal and intere…

S.C. Code Ann. § 59-71-480 Interest; maturities; redemption

0.9K chars

State school bonds shall bear interest, payable semiannually, at a rate or rates not exceeding the maximum interest rate specified in the Board's request for the issuance thereof. Each issue of State school bonds shall mature in annual series or installments, the first of which a…

S.C. Code Ann. § 59-71-490 Exemption of bonds from taxes or assessments

0.3K chars

All State school bonds issued under this article, and the income therefrom, shall be exempt from all State, county, municipal, school district and other taxes or assessments, direct or indirect, general or special, whether imposed for the purpose of general revenue or otherwise.

S.C. Code Ann. § 59-71-50 Notice of election

0.7K chars

Notice of the holding of such an election shall be given by publication thereof, in some newspaper published in the county wherein the operating school unit is located, at least once not less than fifteen days prior to the occasion set for the holding of such election. If the ope…

S.C. Code Ann. § 59-71-510 Pledge of credit and revenues for payment of bonds

0.8K chars

For the payment of the principal and interest on all State school bonds at any time issued and outstanding pursuant to this article as now constituted or hereafter amended, there shall be pledged the full faith, credit and taxing power of the State and, in addition thereto, but s…

S.C. Code Ann. § 59-71-520 Revision of retail sales tax not precluded by pledge

0.7K chars

The pledge of such revenue derived from such retail sales tax shall not preclude the revision of such retail sales tax as to rate or as to the item taxed, either or both, if the State Auditor shall certify that his estimate of the revenue to be derived annually from the tax as th…

S.C. Code Ann. § 59-71-530 Sale of bonds

1.2K chars

State school bonds whose proceeds are to be applied exclusively to the purchase of school bus equipment may be privately placed, if the terms and conditions of such disposition shall be approved by resolution duly adopted by the State Fiscal Accountability Authority. All other St…

S.C. Code Ann. § 59-71-540 Bonds as lawful investments

0.2K chars

It shall be lawful for all executors, administrators, guardians and other fiduciaries and all sinking fund commissions to invest any moneys in their hands in State school bonds.

S.C. Code Ann. § 59-71-550 Disposition of proceeds of sale

1.2K chars

The proceeds of the sale of State school bonds shall be received by the State Treasurer and placed by him to the credit of the State Board of Education, except that the premium, if any, shall be placed in the sinking fund established by Section 59-71-570 and the accrued interest,…

S.C. Code Ann. § 59-71-560 Use of proceeds; segregation for different uses

0.6K chars

The proceeds derived from the sale of State school bonds shall be applied by the Board only to the purposes for which the bonds are issued, and, if it shall be provided that a part of the proceeds of an issue of bonds shall be allocated to school districts for capital improvement…

S.C. Code Ann. § 59-71-570 Sinking fund payments

0.9K chars

If the annual principal payment on account of outstanding bonds be less than five per cent of the aggregate of all bonds outstanding, there shall be placed in the sinking fund hereby established for the retirement of State school bonds such sum as is the difference between five p…

S.C. Code Ann. § 59-71-580 Retail sales tax provisions as part of contract with bondholders

0.4K chars

The provisions of Chapter 35 of Title 12 levying the retail sales tax and of this article pledging the proceeds thereof to the payment of the principal and interest of State school bonds and to the sinking fund to be established for the retirement of the outstanding principal of …

S.C. Code Ann. § 59-71-60 Declaration of result of election; declaration conclusive unless contested within thirty days

0.6K chars

Upon the receipt of the returns of the election the authorities shall by resolution declare the results thereof and may provide for the filing of a certified copy of such resolution declaring the results of the election in the office of the clerk of the court for each county wher…

S.C. Code Ann. § 59-71-70 Maturity of bonds

0.6K chars

Such bonds shall mature in such annual series or installments as the authorities shall provide, except that: (1) The first maturing bonds shall mature within three years from the date as of which they may be issued; (2) Not less than three per cent of the aggregate of the issue s…

S.C. Code Ann. § 59-71-80 Provision for redemption

0.4K chars

Any bond may be issued with a provision for its redemption prior to its stated maturity at par and accrued interest, plus such redemption premium as may be prescribed by the authorities, but no bond shall be redeemable before maturity unless it contains a statement to that effect…

S.C. Code Ann. § 59-71-90 Negotiability and registration

0.6K chars

The bonds issued pursuant to this article shall be in the form of negotiable coupon bonds, payable to bearer, with the privilege to the holder of having them registered as to principal on the books of the treasurer of the county wherein the operating school unit is located, in wh…