South Carolina § 51-7-70 Payment of revenue obligations.

South Carolina Statutes

§ 51-7-70 — Payment of revenue obligations.

South Carolina § 51-7-70

Title 51PARKS, RECREATION, AND TOURISM

Ch. 7HUNTING ISLAND, BEAUFORT COUNTY

This text of South Carolina § 51-7-70 (Payment of revenue obligations.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 51-7-70 (2026).

Text

In order to secure the payment of any obligations issued pursuant to the provisions of this chapter and such interest as may accrue thereon, the department may:

(1)Pledge all or any part of its revenues derived from the operation of said island or any facility or service furnished by it on said island; and (2) Enter into any covenant and do any and all acts and things necessary or desirable to secure its obligations or which, in the discretion of the department, tend to make the obligations more marketable, notwithstanding that such covenant may restrict or interfere with the exercise of the powers herein granted, it being the intention hereof to give to the department power to do all things in the issuance of bonds for their security that a private business corporation could do under the

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In order to secure the payment of any obligations issued pursuant to the provisions of this chapter and such interest as may accrue thereon, the department may: (1) Pledge all or any part of its revenues derived from the operation of said island or any facility or service furnished by it on said island; and (2) Enter into any covenant and do any and all acts and things necessary or desirable to secure its obligations or which, in the discretion of the department, tend to make the obligations more marketable, notwithstanding that such covenant may restrict or interfere with the exercise of the powers herein granted, it being the intention hereof to give to the department power to do all things in the issuance of bonds for their security that a private business corporation could do under the general laws of this State.

Legislative History

HISTORY: 1962 Code SECTION 51-247; 1952 Code SECTION 51-247; 1942 Code SECTION 3284-5; 1940 (41) 1785; 2021 Act No. 73 (H.3545), SECTION 2, eff May 17, 2021. Effect of Amendment 2021 Act No. 73, SECTION 2, deleted (2) to (4), which related to certain actions the department might have undertaken to secure payment of obligations, redesignated (5) as (2), and made nonsubstantive changes throughout.