South Carolina Statutes
§ 13-1-1400 — Power of director over disbursement of bond proceeds.
The director shall have the power to provide that the bond proceeds shall be disbursed by the trustee bank or banks during construction upon the estimate, order or certificate of the designated construction engineer and the authorized representative of the division. In making such agreements or provisions the director shall not have the power to obligate the division except with respect to the railroad and necessary equipment and the application of the revenues therefrom, and shall not have the power to incur a pecuniary liability or a charge upon the general credit of the division or against the full faith, credit or taxing power of the State of South Carolina or a political subdivision thereof.
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South Carolina § 13-1-1400 (Power of director over disbursement of bond proceeds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1993 Act No. 181, SECTION 247, eff July 1, 1993.
Nearby Sections
15
§ 13-1-10
Department of Commerce established.§ 13-1-1000
Definitions.§ 13-1-1030
County-commission district overlap; consecutive terms; two commissioners from same county.§ 13-1-1060
Oath of office.§ 13-1-1080
Appointment of executive director.§ 13-1-1110
Organization and objectives of division.§ 13-1-1310
Division of Public Railways created.§ 13-1-1320
Definitions.§ 13-1-1330
Powers and duties of director of division.