South Carolina Statutes
§ 6-24-170 — Investment of monies from bond.
South Carolina·Title 6 LOCAL GOVERNMENT—PROVISIONS APPLICABLE TO SPECIAL PURPOSE DISTRICTS AND OTHER POLITICAL SUBDIVISIONS·Ch. 24 JOINT AGENCY ACT
The resolution authorizing the bonds of an issue or the trust agreement securing the bonds may provide that the monies may be invested temporarily and reinvested pending disbursement in securities and other investments provided in the resolution or trust agreement. The resolution or trust agreement must provide that a bank or trust company with which the monies are deposited shall act as trustee of the monies and hold and apply them for the purposes of this joint agency, subject to regulation as this chapter and the resolution or trust agreement provide.
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South Carolina § 6-24-170 (Investment of monies from bond.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 2003 Act No. 8, SECTION 2, eff April 21, 2003.
Nearby Sections
15
§ 6-24-10
Title.§ 6-24-100
Rights and powers of joint agency.§ 6-24-140
Issuance of bonds; use of proceeds.§ 6-24-150
Trust agreements for issuance of bonds.§ 6-24-170
Investment of monies from bond.§ 6-24-180
Enforcement of bonds.§ 6-24-190
Bonds as investment securities.§ 6-24-20
Definitions.§ 6-24-220
Issuance of refunding bonds.