South Carolina § 11-40-120 Bonds to be authorized by resolution; requirements for bonds.

South Carolina Statutes

§ 11-40-120 — Bonds to be authorized by resolution; requirements for bonds.

South Carolina·Title 11 PUBLIC FINANCE·Ch. 40 SOUTH CAROLINA INFRASTRUCTURE FACILITIES AUTHORITY ACT

The bonds of the authority must be authorized by a resolution of the authority and must be in the form and executed in the manner provided in the bond resolution. The bonds shall bear the date and mature at the time which the bond resolution provides, except that no bond may mature more than thirty years from its date of issue. The bonds may be in the denominations, be executed in the manner, be payable in the medium of payment, be payable at the place at the time, and be subject to redemption or repurchase and contain other provisions determined by the authority. The bonds may bear interest payable at a time and at a rate as determined by the authority, including the determination of interest rates by agents designated by the authority under guidelines established by it. Bonds may be sold

Free access — add to your briefcase to read the full text and ask questions with AI

The bonds of the authority must be authorized by a resolution of the authority and must be in the form and executed in the manner provided in the bond resolution. The bonds shall bear the date and mature at the time which the bond resolution provides, except that no bond may mature more than thirty years from its date of issue. The bonds may be in the denominations, be executed in the manner, be payable in the medium of payment, be payable at the place at the time, and be subject to redemption or repurchase and contain other provisions determined by the authority. The bonds may bear interest payable at a time and at a rate as determined by the authority, including the determination of interest rates by agents designated by the authority under guidelines established by it. Bonds may be sold by the authority at public or private sale at the price it determines and approves.

South Carolina § 11-40-120 (Bonds to be authorized by resolution; requirements for bonds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.