South Carolina Statutes
§ 11-19-70 — Application of proceeds of obligations.
It shall be the duty of the governing body to apply the proceeds of any obligations issued pursuant to this chapter to the cost of the construction of the project for which the grant is to be made, but no purchaser of any obligations shall be liable for the proper application of the proceeds.
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South Carolina § 11-19-70 (Application of proceeds of obligations.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 1-641.6; 1971 (57) 902.
Nearby Sections
8
§ 11-19-10
Definitions.§ 11-19-30
Maximum amount.§ 11-19-40
Manner of issuing obligations.§ 11-19-70
Application of proceeds of obligations.§ 11-19-80
Tax exempt status of obligations.