South Carolina Statutes
§ 31-7-50 — Application of proceeds.
The proceeds from obligations issued under authority of this chapter must be applied only for the purpose for which they were issued. Any premium and accrued interest received in any such sale must be applied to the payment of the principal of or the interest on the obligations sold. Any portion of the proceeds not needed for redevelopment project costs must be applied to the payment of the principal of or the interest on the obligations.
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South Carolina § 31-7-50 (Application of proceeds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1999 Act No. 109, SECTION 1.
Nearby Sections
15
§ 31-7-10
Short title.§ 31-7-110
Revenues and grants; county powers.§ 31-7-120
Intergovernmental agreements.§ 31-7-25
Additional findings.§ 31-7-30
Definitions.§ 31-7-50
Application of proceeds.§ 31-7-60
State tax exemptions.