South Carolina Statutes
§ 6-21-480 — Disposition of surplus in operation and maintenance fund.
South Carolina·Title 6 LOCAL GOVERNMENT—PROVISIONS APPLICABLE TO SPECIAL PURPOSE DISTRICTS AND OTHER POLITICAL SUBDIVISIONS·Ch. 21 REVENUE BOND ACT FOR UTILITIES
If any surplus shall be accumulated in the operation and maintenance fund which shall be equal to the cost of operating and maintaining the system, project or combined system during the remainder of the calendar, operating or fiscal year, as provided by the authorizing ordinance, and the cost of operating and maintaining the system, project or combined system during the succeeding like calendar, operating or fiscal year, any such surplus may be transferred at any time by the governing body to the depreciation fund, the contingent fund or the bond and interest redemption fund.
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South Carolina § 6-21-480 (Disposition of surplus in operation and maintenance fund.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 59-406; 1952 Code SECTION 59-406; 1942 Code SECTION 9267; 1933 (38) 411.
Nearby Sections
15
§ 6-21-10
"Borrower" defined.§ 6-21-110
Condemnation of property.§ 6-21-130
Option or contract of purchase.§ 6-21-140
Estimate of cost of system.§ 6-21-180
Acceptance of Federal loans and grants.§ 6-21-185
Special purpose districts providing hospital, nursing home, or care facilities; mortgages.§ 6-21-190
Bond issues authorized.§ 6-21-20
"Governing body" defined.