South Carolina § 59-125-540 Authorization to borrow funds and issue bonds; amount limitations.

South Carolina Statutes

§ 59-125-540 — Authorization to borrow funds and issue bonds; amount limitations.

South Carolina § 59-125-540

Title 59EDUCATION

Ch. 125WINTHROP UNIVERSITY

This text of South Carolina § 59-125-540 (Authorization to borrow funds and issue bonds; amount limitations.) 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. § 59-125-540 (2026).

Text

Upon receiving the approval of the State Fiscal Accountability Authority or Department of Administration, as appropriate, and upon review by the Joint Bond Review Committee, the trustees may from time to time borrow such sums as necessary to accomplish the purpose of this article and to evidence such borrowings by bonds issued pursuant to this article in such aggregate principal amount as they determine, except that other provisions of this article to the contrary notwithstanding, there must not be outstanding at any time bonds issued pursuant to this article in excess of five million dollars.

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Upon receiving the approval of the State Fiscal Accountability Authority or Department of Administration, as appropriate, and upon review by the Joint Bond Review Committee, the trustees may from time to time borrow such sums as necessary to accomplish the purpose of this article and to evidence such borrowings by bonds issued pursuant to this article in such aggregate principal amount as they determine, except that other provisions of this article to the contrary notwithstanding, there must not be outstanding at any time bonds issued pursuant to this article in excess of five million dollars.