South Carolina Statutes
§ 5-21-400 — Pledge of credit for payment and tax therefor; sinking fund.
For the payment of the principal and interest of the bonds as they respectively mature and for the creation of a sinking fund to aid in the retirement and payment thereof the full faith, credit and taxing power of the municipality shall be irrevocably pledged, and there shall be levied and collected annually upon all taxable property in the municipality an ad valorem tax, without limitation as to rate or amount, sufficient for such purposes.
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South Carolina § 5-21-400 (Pledge of credit for payment and tax therefor; sinking fund.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 47-850; 1952 Code SECTION 47-850; 1951 (47) 771.
Nearby Sections
15
§ 5-21-110
Property subject to municipal taxes.§ 5-21-20
Exceptions to 5-21-10.§ 5-21-210
Short title.§ 5-21-220
Definitions.§ 5-21-230
Declaration of purpose.§ 5-21-250
Petition for election on issuance.§ 5-21-260
Notice of filing of petition.§ 5-21-270
Action on petition.§ 5-21-280
Time for holding election.§ 5-21-290
Notice of the holding of the election.