South Carolina § 57-11-240 Limitation on maximum annual debt service; authority to issue state highway bonds.

South Carolina Statutes

§ 57-11-240 — Limitation on maximum annual debt service; authority to issue state highway bonds.

South Carolina § 57-11-240

Title 57HIGHWAYS, BRIDGES AND FERRIES

Ch. 11FINANCIAL MATTERS

This text of South Carolina § 57-11-240 (Limitation on maximum annual debt service; authority to issue state highway bonds.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 57-11-240 (2026).

Text

The maximum annual debt service on general obligation bonds issued or outstanding as state highway bonds shall not exceed the debt service limits established in Article X, Section 13 of the South Carolina Constitution. Within such limitations, state highway bonds may be issued for state highway transportation purposes or to refund state highway bonds from time to time under the conditions prescribed by this article.

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The maximum annual debt service on general obligation bonds issued or outstanding as state highway bonds shall not exceed the debt service limits established in Article X, Section 13 of the South Carolina Constitution. Within such limitations, state highway bonds may be issued for state highway transportation purposes or to refund state highway bonds from time to time under the conditions prescribed by this article.