South Carolina Statutes
§ 59-21-140 — State Fiscal Accountability Authority may borrow in anticipation of revenue.
The State Fiscal Accountability Authority may borrow in each year in anticipation of the receipt of revenues provided for school aid such sum or sums as may be necessary to pay any portion of the amounts appropriated herein and becoming due to the respective counties of the State prior to the collection thereof. Such notes shall be issued in such form and manner as the Board may elect and, when issued, are hereby declared to be current obligations of the State. But in lieu of borrowing as provided herein the Comptroller General may issue his warrant against the general fund in the treasury when it appears that sufficient funds are available therein, and the State Treasurer shall pay the same as provided in Section 59-21-130. Such withdrawals from the general fund, if made, shall constitute
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South Carolina § 59-21-140 (State Fiscal Accountability Authority may borrow in anticipation of revenue.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 21-264; 1952 Code SECTION 21-264; 1942 Code SECTION 5429; 1934 (38) 1221.
Nearby Sections
15
§ 59-21-10
"School" defined.§ 59-21-1010
Disposition and allocation of revenues; special vote required to amend or repeal this section.§ 59-21-1020
Department of Education to monitor and audit disbursements; reversion of unexpended appropriations.§ 59-21-1030
Level of financial effort per pupil required of each school district; application for waiver.§ 59-21-110
Allowance for supervision and overhead.§ 59-21-120
Allowance for maintenance and operation.§ 59-21-1210
Campus incentive program established; funding.§ 59-21-130
Disbursement to counties.