South Carolina Statutes
§ 59-67-450 — Form of indebtedness; interest; payment.
The indebtedness incurred pursuant to Section 59-67-440 shall be in such form and shall bear such rate of interest as may be agreed upon between the State Fiscal Accountability Authority and the State Board of Education. For the payment of the indebtedness and the interest to accrue thereon, the principal proceeds of the next bonds to be issued pursuant to Article 5 of Chapter 71 of this Title for school purposes shall be pledged and on the occasion that such further school bonds shall be issued pursuant thereto, sufficient of the proceeds thereof shall be used to retire such indebtedness, both principal and interest.
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South Carolina § 59-67-450 (Form of indebtedness; interest; payment.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 21-837.1; 1959 (51) 606.
Nearby Sections
15
§ 59-67-10
"School bus" defined.§ 59-67-105
Maximum ride time; routing.§ 59-67-108
Training and certification of drivers.§ 59-67-110
Front entrance-exit; emergency exit.§ 59-67-120
Tampering with governors prohibited.§ 59-67-160
Physical examination of school bus driver.§ 59-67-180
General supervision of bus by driver.