South Carolina Statutes
§ 57-11-240 — Limitation on maximum annual debt service; authority to issue state highway bonds.
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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South Carolina § 57-11-240 (Limitation on maximum annual debt service; authority to issue state highway bonds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 33-274; 1972 (57) 3088; 1974 (58) 2273; 1975 (59) 312; 1993 Act No. 181, SECTION 1524; 1995 Act No. 33, SECTION 6.
Nearby Sections
15
§ 57-11-210
Definitions.§ 57-11-235
Issuance of highway bonds.§ 57-11-250
Pledge for payment of bonds.§ 57-11-280
Bond resolution.§ 57-11-330
Interest on bonds; maturity.§ 57-11-340
Exemption of bonds from taxation.§ 57-11-360
Sale of bonds.