South Carolina Statutes
§ 11-17-70 — Notes secured by full faith, credit, and taxing power of borrower.
South Carolina·Title 11 PUBLIC FINANCE·Ch. 17 BORROWING BY STATE, STATE AGENCIES, AND POLITICAL UNITS IN ANTICIPATION OF ISSUANCE OF BONDS
Notes issued pursuant to this chapter in anticipation of the issuance of general obligation bonds shall be general obligations of the borrower also secured by a pledge of the full faith, credit and taxing power of the borrower, and any governing body is authorized to make such a pledge in the proceedings providing for the issuance of any notes pursuant to this chapter in anticipation of the issuance of general obligation bonds.
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South Carolina § 11-17-70 (Notes secured by full faith, credit, and taxing power of borrower.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 1-625.1; 1969 (56) 809.
Nearby Sections
12
§ 11-17-10
Definitions.§ 11-17-110
Tax exempt status of notes.§ 11-17-30
Use of other funds for payment of notes.§ 11-17-40
Manner of issuing notes.§ 11-17-90
Application of proceeds of notes.