South Carolina Statutes
§ 59-131-40 — Full faith and credit of State not pledged for payment of bonds.
The faith and credit of the State of South Carolina shall not be pledged for the payment of the principal and interest of such bonds, and there shall be on the face of each bond a statement plainly worded, to that effect. Neither the trustees nor any other person signing the bonds shall be personally liable thereon.
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South Carolina § 59-131-40 (Full faith and credit of State not pledged for payment of bonds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1975 (59) 79.
Nearby Sections
13
§ 59-131-10
Parking facilities authorized.§ 59-131-100
Sales of bonds.§ 59-131-110
Securing payment of bonds.§ 59-131-120
No time limit on issuance of bonds.§ 59-131-20
Bond issue authorized upon approval.§ 59-131-25
Use of proceeds of bonds.§ 59-131-50
Provisions of resolution concerning bonds.§ 59-131-60
Negotiability and registration.§ 59-131-70
Tax exemption status.§ 59-131-80
Bonds as lawful investments.§ 59-131-90
Execution of bonds.