South Carolina Statutes
§ 59-107-90 — Maximum amount of outstanding bonds.
The maximum amount of annual debt service on all outstanding state institution bonds for each state institution shall not exceed ninety percent of the sums received by such state institution from tuition fees for the preceding fiscal year, as provided in Section 13(6)(b) of Article X of the South Carolina Constitution.
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Legislative History
HISTORY: 1962 Code SECTION 22-29; 1953 (48) 169; 1957 (50) 404; 1961 (52) 476; 1966 (54) 2263; 1967 (55) 689; 1968 (55) 3049; 1976 Act No. 582, SECTION 2; 1979 Act No. 194, Part I, SECTION 8; 1995 Act No. 145, Part II, SECTION 109; 1998 Act No. 419, Part II, SECTION 56; 1999 Act No. 40, SECTION 1.
Nearby Sections
15
§ 59-107-110
Negotiability and registration.§ 59-107-140
Bonds exempt from taxes.§ 59-107-150
Bonds as legal investments.§ 59-107-160
Sale of bonds.§ 59-107-170
Deposit and use of proceeds of bonds.§ 59-107-20
Tuition fees required at state institutions.§ 59-107-200
Defeasance of bonds; trust fund established.§ 59-107-30
Remittance and application of tuition fees.