South Carolina Statutes
§ 6-17-90 — Lien of bonds on revenues and other security.
South Carolina·Title 6 LOCAL GOVERNMENT—PROVISIONS APPLICABLE TO SPECIAL PURPOSE DISTRICTS AND OTHER POLITICAL SUBDIVISIONS·Ch. 17 REVENUE BOND REFINANCING ACT OF 1937
The refunding bonds shall be special obligations of the municipality and shall be payable from and secured by a lien upon the revenues of the enterprise as shall be more fully described in the resolution of the governing body authorizing the issuance of the refunding bonds, having due regard to the cost of operation and maintenance of the enterprise and the amount or proportion, if any, of the revenues of the enterprise previously pledged. Any municipality may by resolution of its governing body pledge for the security of the refunding bonds a fixed amount without regard to any fixed proportion of the gross revenues of the enterprise.
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South Carolina § 6-17-90 (Lien of bonds on revenues and other security.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 59-659; 1952 Code SECTION 59-659; 1942 Code SECTION 9293; 1937 (40) 313.
Nearby Sections
15
§ 6-17-10
Short title.§ 6-17-150
Sale or exchange of bonds.§ 6-17-190
Fiscal agent.§ 6-17-20
Definitions.§ 6-17-200
Appointment of receiver of enterprise.§ 6-17-210
Powers and duties of receiver.