South Carolina Statutes
§ 6-21-300 — Deposit of and security for proceeds from bonds.
South Carolina § 6-21-300
JurisdictionSouth Carolina
Title 6LOCAL GOVERNMENT—PROVISIONS APPLICABLE TO SPECIAL PURPOSE DISTRICTS AND OTHER POLITICAL SUBDIVISIONS
Ch. 21REVENUE BOND ACT FOR UTILITIES
This text of South Carolina § 6-21-300 (Deposit of and security for proceeds from bonds.) 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. § 6-21-300 (2026).
Text
The governing body, when practicable, shall require that the proceeds of the sale of bonds issued under the provisions of this chapter be deposited in a special account or accounts in a bank or banks which are members of the Federal Reserve System and shall require, in so far as practicable, that each such deposit be secured by United States Government securities having an aggregate market value at least equal to the sum at the time on deposit or, in any event, the proceeds shall be deposited in some bank or other depository, either within or without the State, which will secure such deposit satisfactorily to the governing body.
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Legislative History
HISTORY: 1962 Code SECTION 59-388; 1952 Code SECTION 59-388; 1942 Code SECTION 9257; 1933 (38) 411.
Nearby Sections
15
§ 6-21-10
"Borrower" defined.§ 6-21-110
Condemnation of property.§ 6-21-130
Option or contract of purchase.§ 6-21-140
Estimate of cost of system.§ 6-21-180
Acceptance of Federal loans and grants.§ 6-21-185
Special purpose districts providing hospital, nursing home, or care facilities; mortgages.§ 6-21-190
Bond issues authorized.§ 6-21-20
"Governing body" defined.Cite This Page — Counsel Stack
Bluebook (online)
South Carolina § 6-21-300, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/21/6-21-300.