South Carolina Statutes
§ 11-50-90 — Loans and other financial assistance.
(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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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.
Nearby Sections
15
§ 11-50-10
Short title.§ 11-50-110
Exempt from taxes and assessments.§ 11-50-120
Defaults by eligible entities.§ 11-50-160
Annual reports; audit of books and accounts.§ 11-50-180
Severability provision.§ 11-50-20
Legislative findings.§ 11-50-40
Definitions.§ 11-50-55
Director of the authority.