South Carolina Statutes
§ 11-15-590 — Deposit and use of proceeds.
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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South Carolina § 11-15-590 (Deposit and use of proceeds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
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
Short title.