South Carolina Statutes
§ 31-12-250 — Disposition of proceeds of obligations.
South Carolina·Title 31 HOUSING AND REDEVELOPMENT·Ch. 12 REDEVELOPMENT OF FEDERAL MILITARY INSTALLATIONS AND OTHER DEFENSE SITES
The proceeds from obligations issued under authority of Sections 31-12-200 through 31-12-320 of this chapter must be applied only for the purpose for which they were issued. Any premium and accrued interest received in a sale must be applied to the payment of the principal of or the interest on the obligations sold. A portion of the proceeds not needed for redevelopment project costs must be applied to the payment of the principal of or the interest on the obligations.
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South Carolina § 31-12-250 (Disposition of proceeds of obligations.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1994 Act No. 462, SECTION 1; 1998 Act No. 421, SECTION 1.
Nearby Sections
15
§ 31-12-10
Short title.§ 31-12-110
Authority is an "agency".§ 31-12-20
Legislative findings.§ 31-12-250
Disposition of proceeds of obligations.§ 31-12-260
Obligations exempt from taxation.§ 31-12-280
Prerequisites to issuance of obligations.§ 31-12-30
Definitions.§ 31-12-300
Certification by county auditor; determination of value taxable property in project area.§ 31-12-310
Disposition of revenues.