South Carolina Statutes
§ 44-7-1650 — Intergovernmental loan agreements.
The authorizing issuer and the project county are authorized and empowered to enter into an intergovernmental loan agreement to facilitate the financing of hospital facilities. An intergovernmental loan agreement obligates the project county to make payments to or on account of the authorizing issuer from payments received under one or more subsidiary loan agreements. The intergovernmental loan agreement is a limited obligation of the project county payable solely from the revenues derived under one or more subsidiary loan agreements. The intergovernmental loan agreement does not constitute an indebtedness of the project county within the meaning of any state constitutional provision or statutory limitation and does not constitute nor give rise to a pecuniary liability of the project count
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South Carolina § 44-7-1650 (Intergovernmental loan agreements.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1987 Act No. 201 SECTION 4.
Nearby Sections
15
§ 44-7-1000
Proceeds of bond issue.§ 44-7-1010
Payment of bonds; annual tax.§ 44-7-1020
Acquisition of property; memorials.§ 44-7-1070
Persons who may be patients.§ 44-7-110
Short title.§ 44-7-1100
Tax levy by adjoining county.§ 44-7-1110
Cancellation of contributing agreement.§ 44-7-1120
Annual audit.