South Carolina § 57-11-380 Disposition of proceeds of sale of bonds.

South Carolina Statutes

§ 57-11-380 — Disposition of proceeds of sale of bonds.

South Carolina § 57-11-380

Title 57HIGHWAYS, BRIDGES AND FERRIES

Ch. 11FINANCIAL MATTERS

This text of South Carolina § 57-11-380 (Disposition of proceeds of sale of 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. § 57-11-380 (2026).

Text

The proceeds of the sale of state highway bonds must be received by the State Treasurer and applied by the State Treasurer to the purposes for which issued, except that the accrued interest, if any, must be used to discharge in part the first interest to become due on the bonds, but the purchasers of the bonds are not liable for the proper application of the proceeds to the purposes for which they are intended.

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The proceeds of the sale of state highway bonds must be received by the State Treasurer and applied by the State Treasurer to the purposes for which issued, except that the accrued interest, if any, must be used to discharge in part the first interest to become due on the bonds, but the purchasers of the bonds are not liable for the proper application of the proceeds to the purposes for which they are intended.