South Carolina § 13-19-170 Disposition of proceeds of sale of bonds; what constitutes cost of acquiring project.

South Carolina Statutes

§ 13-19-170 — Disposition of proceeds of sale of bonds; what constitutes cost of acquiring project.

South Carolina § 13-19-170

Title 13PLANNING, RESEARCH AND DEVELOPMENT

Ch. 19MIDLANDS AUTHORITY

This text of South Carolina § 13-19-170 (Disposition of proceeds of sale of bonds; what constitutes cost of acquiring project.) 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. § 13-19-170 (2026).

Text

The proceeds from the sale of any bonds issued under authority of this chapter may be applied only for the purpose for which the bonds were issued, except any premium and accrued interest received in any sale must be applied to the payment of the principal of or the interest on the bonds sold, and if for any reason any portion of the proceeds are not needed for the purpose for which the bonds were issued, that portion of the proceeds must be applied to the payment of the principal of or the interest on the bonds. The cost of acquiring any project includes the following:

(a)the actual cost of the construction of any part of a project, including architects', engineers', and attorneys' fees;

(b)the purchase price of any part of a project that may be acquired by purchase;

(c)all expenses in

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The proceeds from the sale of any bonds issued under authority of this chapter may be applied only for the purpose for which the bonds were issued, except any premium and accrued interest received in any sale must be applied to the payment of the principal of or the interest on the bonds sold, and if for any reason any portion of the proceeds are not needed for the purpose for which the bonds were issued, that portion of the proceeds must be applied to the payment of the principal of or the interest on the bonds. The cost of acquiring any project includes the following: (a) the actual cost of the construction of any part of a project, including architects', engineers', and attorneys' fees; (b) the purchase price of any part of a project that may be acquired by purchase; (c) all expenses in connection with the authorization, sale, and issuance of the bonds to finance the acquisition; (d) the interest on the bonds for a reasonable time prior to construction and for not exceeding one year after completion of the construction.