South Carolina Statutes
§ 31-3-1650 — Personal liability on bonds; bonds shall not constitute "indebtedness".
Neither the commissioners of an authority nor any person executing the bonds shall be liable personally on the bonds by reason of the issuance thereof. The bonds and other obligations of an authority (and the bonds and obligations shall so state on their face) shall not be a debt of the city, the county, the State or any political division or subdivision thereof and neither the city, the county, nor the State or any political division or subdivision thereof shall be liable thereon, nor in any event shall such bonds or obligations be payable out of any funds or properties other than those of the authority. The bonds shall not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction.
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South Carolina § 31-3-1650 (Personal liability on bonds; bonds shall not constitute "indebtedness".) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 36-165; 1952 Code SECTION 36-165; 1942 Code SECTION 5271-45; 1937 (40) 431.
Nearby Sections
15
§ 31-3-10
Short title.§ 31-3-1010
Area of operation.§ 31-3-1020
Increase of area of operation.§ 31-3-1050
Effect of increase of area of operation on property, obligations, and the like of county authority.§ 31-3-1060
Decrease of area of operation.§ 31-3-1070
Consent of all holders of evidences of indebtedness prerequisite to decrease of area of operation.§ 31-3-1110
Assumption of obligations by county of regional authority disclosed subsequent to withdrawal.§ 31-3-1130
Disposition of property in excluded county.