South Carolina Statutes
§ 59-127-410 — Disposition of proceeds of sale of bonds.
The proceeds of all bonds must be delivered to the State Treasurer and retained in a special fund or funds and applied solely to the purposes for which the bonds are issued. Withdrawals from the Debt Service Fund must be made on the order or requisition of the university and must be in a manner the State Treasurer prescribes. The State Treasurer may make temporary investments of funds derived from the proceeds of bonds in obligations enumerated in Section 11-9-660 with maturities consonant with the need for the funds.
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South Carolina § 59-127-410 (Disposition of proceeds of sale of bonds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1992 Act No. 514, SECTION 13.
Nearby Sections
15
§ 59-127-20
Board of trustees; election; terms.§ 59-127-30
Quorum at board meetings.§ 59-127-310
Definitions.§ 59-127-340
Trustees to adopt resolutions for issuance of bonds; single issue or separate issues authorized.§ 59-127-350
Requirements of bonds.§ 59-127-360
Registration of bonds.§ 59-127-370
Tax exempt status.§ 59-127-380
Persons who may lawfully invest in bonds.§ 59-127-390
Execution and delivery of bonds.§ 59-127-40
Management and control of Claflin College.§ 59-127-400
Sale of bonds.