South Carolina Statutes
§ 59-146-120 — Payment of principal and interest.
For the payment of the principal and interest on all state school facilities bonds issued and outstanding pursuant to this chapter there is pledged the full faith, credit, and taxing power of the State of South Carolina, and in accordance with the provisions of paragraph (4) of Section 13 of Article X of the South Carolina Constitution, the General Assembly hereby allocates on an annual basis sufficient tax revenues to provide for the punctual payment of the principal and interest on the debt authorized by this chapter.
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South Carolina § 59-146-120 (Payment of principal and interest.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1999 Act No. 28, SECTION 1.
Nearby Sections
15
§ 59-146-10
Short title.§ 59-146-100
Tax exemption of state school facilities bonds.§ 59-146-120
Payment of principal and interest.§ 59-146-130
Sale of state school facilities bonds.§ 59-146-170
Responsibilities and duties of State Department of Education and State Board of Education.§ 59-146-180
Qualification of school districts for funds.§ 59-146-30
Definitions.§ 59-146-40
School facilities bonds.