South Carolina § 11-50-90 Loans and other financial assistance.

South Carolina Statutes

§ 11-50-90 — Loans and other financial assistance.

South Carolina § 11-50-90

Title 11PUBLIC FINANCE

Ch. 50SOUTH CAROLINA RURAL INFRASTRUCTURE ACT

This text of South Carolina § 11-50-90 (Loans and other financial assistance.) 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. § 11-50-90 (2026).

Text

(A)The authority may provide loans and other financial assistance to an eligible entity to pay for all or part of the eligible cost of a qualified project. The term of the loan or other financial assistance must not exceed the useful life of the project. The authority may require the eligible entity to enter into a financing agreement in connection with its loan obligation or other financial assistance. The authority shall determine the form and content of loan applications, financing agreements, and loan obligations including the term and rate or rates of interest on a financing agreement.

(B)The board shall determine which projects are eligible projects and then select from among the eligible projects those qualified to receive from the authority a loan or other financial assistance.

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(A) The authority may provide loans and other financial assistance to an eligible entity to pay for all or part of the eligible cost of a qualified project. The term of the loan or other financial assistance must not exceed the useful life of the project. The authority may require the eligible entity to enter into a financing agreement in connection with its loan obligation or other financial assistance. The authority shall determine the form and content of loan applications, financing agreements, and loan obligations including the term and rate or rates of interest on a financing agreement. (B) The board shall determine which projects are eligible projects and then select from among the eligible projects those qualified to receive from the authority a loan or other financial assistance.

Legislative History

HISTORY: 2010 Act No. 171, SECTION 1, eff May 26, 2010; 2014 Act No. 195 (S.812), SECTION 3, eff June 2, 2014. Effect of Amendment 2014 Act No. 195, SECTION 3, in subsection (A), deleted the former second sentence, relating to review and approval of the Joint Bond Review Committee.