South Carolina § 59-17-120 Reissue of school bonds subject to debt service budget and debt limit.

South Carolina Statutes

§ 59-17-120 — Reissue of school bonds subject to debt service budget and debt limit.

South Carolina § 59-17-120

Title 59EDUCATION

Ch. 17SCHOOL DISTRICTS

This text of South Carolina § 59-17-120 (Reissue of school bonds subject to debt service budget and debt limit.) 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. § 59-17-120 (2026).

Text

Bonds issued by a school district under the bonded indebtedness limitation of Article X, Section 15(7)(a) of the South Carolina Constitution and called before the maturity date only may be reissued if the amount required to service the reissuance and to pay off the called bonds does not:

(1)increase by more than eight percent in any one year the amount of the district's budget needed to service the original bonded indebtedness; or (2) exceed the debt limit of the district.

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Bonds issued by a school district under the bonded indebtedness limitation of Article X, Section 15(7)(a) of the South Carolina Constitution and called before the maturity date only may be reissued if the amount required to service the reissuance and to pay off the called bonds does not: (1) increase by more than eight percent in any one year the amount of the district's budget needed to service the original bonded indebtedness; or (2) exceed the debt limit of the district.