South Carolina § 5-21-340 Maturity of bonds.

South Carolina Statutes

§ 5-21-340 — Maturity of bonds.

South Carolina·Title 5 MUNICIPAL CORPORATIONS·Ch. 21 FINANCIAL MATTERS GENERALLY

Bonds issued hereunder shall mature in such annual series or instalments, equal or unequal in amount, as the municipal council shall provide, except that:

(1)The first maturing bonds shall mature within five years from the date as of which they are issued;

(2)Not less than two per cent of the aggregate of the issue shall mature in any year; and (3) No bonds shall mature later than forty years from the date as of which they are issued.

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Bonds issued hereunder shall mature in such annual series or instalments, equal or unequal in amount, as the municipal council shall provide, except that: (1) The first maturing bonds shall mature within five years from the date as of which they are issued; (2) Not less than two per cent of the aggregate of the issue shall mature in any year; and (3) No bonds shall mature later than forty years from the date as of which they are issued.

South Carolina § 5-21-340 (Maturity of bonds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.