South Carolina Statutes
§ 11-15-590 — Deposit and use of proceeds.
South Carolina § 11-15-590
This text of South Carolina § 11-15-590 (Deposit and use of proceeds.) 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. § 11-15-590 (2026).
Text
The proceeds derived from the sale of these bonds must be deposited in a special fund, separate and distinct from all other funds, and applied solely to the purposes for which the bonds are issued, except that the accrued interest, if any, must be used to discharge in part the first interest to become due on the bonds.
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Legislative History
HISTORY: 1962 Code SECTION 1-699; 1952 Code SECTION 1-699; 1951 (47) 755; 2004 Act No. 184, SECTION 1.
Nearby Sections
15
§ 11-15-210
Investment of sinking funds of political subdivisions of the State; changing investments.§ 11-15-230
Deposit of collections for sinking fund.§ 11-15-240
Holding of sinking fund investments.§ 11-15-250
Advertisements for purchase of securities.§ 11-15-260
Choice of investments.§ 11-15-270
Sale of bonds in sinking fund.§ 11-15-410
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Bluebook (online)
South Carolina § 11-15-590, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/15/11-15-590.