South Carolina Statutes
§ 11-43-620 — Sale upon sealed proposals; notice; awarding of bonds; rejection, readvertising.
Transportation infrastructure bonds must be sold by the Governor and the State Treasurer upon sealed proposals, after publication of notice of such sale one or more times at least seven days before such sale, in a newspaper of general circulation in the State and also in a financial paper published in New York City which regularly publishes notices of sale of state or municipal bonds. The bonds must be awarded to the bidder offering to purchase the transportation infrastructure bonds at the lowest net interest cost to the State at a price of not less than ninety-nine percent of par and accrued interest to the date of delivery, but the right is reserved to reject all bids and to readvertise the bonds for sale and to waive technicalities in the bidding.
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South Carolina § 11-43-620 (Sale upon sealed proposals; notice; awarding of bonds; rejection, readvertising.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1997 Act No. 148, SECTION 2.
Nearby Sections
15
§ 11-43-110
Short title.§ 11-43-130
Definitions.§ 11-43-150
Powers of bank; limitations.§ 11-43-165
Repealed.§ 11-43-200
Exemption from taxes or assessments.§ 11-43-220
Liability.