South Carolina § 6-25-110 Authorization to incur debt and issue bonds.

South Carolina Statutes

§ 6-25-110 — Authorization to incur debt and issue bonds.

South Carolina § 6-25-110

Title 6LOCAL GOVERNMENT—PROVISIONS APPLICABLE TO SPECIAL PURPOSE DISTRICTS AND OTHER POLITICAL SUBDIVISIONS

Ch. 25JOINT AUTHORITY WATER AND SEWER SYSTEMS ACT

This text of South Carolina § 6-25-110 (Authorization to incur debt and issue 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. § 6-25-110 (2026).

Text

A joint system may incur debt for any of its purposes and may issue bonds pledging to the payment as to both principal and interest the revenues, or any portion, derived or to be derived from all or any of its projects and any additions and betterments or extensions or contributions or advances from its members or other sources of funds available to it. A joint system may not undertake a project required to be financed, in whole or in part, with the proceeds of bonds without the approval of the governing bodies of each member which is obligated or to be obligated under any contract for the payment of amounts to be pledged as security therefore and a favorable vote of two-thirds of all commissioners. A joint system formed only for the purpose of creating a financing pool may issue notes in 

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A joint system may incur debt for any of its purposes and may issue bonds pledging to the payment as to both principal and interest the revenues, or any portion, derived or to be derived from all or any of its projects and any additions and betterments or extensions or contributions or advances from its members or other sources of funds available to it. A joint system may not undertake a project required to be financed, in whole or in part, with the proceeds of bonds without the approval of the governing bodies of each member which is obligated or to be obligated under any contract for the payment of amounts to be pledged as security therefore and a favorable vote of two-thirds of all commissioners. A joint system formed only for the purpose of creating a financing pool may issue notes in anticipation of the issuance of bonds by its members to the government.

Legislative History

HISTORY: 1983 Act No. 82, SECTION 2; 1997 Act No. 74, SECTION 4; 1999 Act No. 113, SECTION 14; 2007 Act No. 59, SECTION 1, eff June 6, 2007. Effect of Amendment The 2007 amendment made nonsubstantive changes.