South Carolina Statutes
§ 59-71-180 — Deposit and use of proceeds.
South Carolina § 59-71-180
This text of South Carolina § 59-71-180 (Deposit and use of proceeds.) 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. § 59-71-180 (2026).
Text
The proceeds derived from the sale of the bonds must be deposited with the treasurer of the county in which the operating school unit is located, in whole or in part, in a special fund to the credit of the operating school unit and must be applied solely to the purposes for which the bonds were issued, except that the accrued interest, if any, must be used to discharge in part the first interest to become due on the bonds.
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Legislative History
HISTORY: 1962 Code SECTION 21-989; 1952 Code SECTION 21-989; 1951 (47) 759; 2004 Act No. 184, SECTION 6, eff March 15, 2004. Effect of Amendment The 2004 amendment substituted "in which" for "wherein" following "treasurer of the county", deleted "premium, if any, shall be placed in the sinking fund established by Section 59-71-150 and the" preceding "accrued interest", and substituted "must" for "shall" throughout.
Nearby Sections
15
§ 59-71-10
Short title.§ 59-71-100
Place of payment.§ 59-71-110
Interest rate.§ 59-71-120
Execution of bonds.§ 59-71-130
Sale of bonds.§ 59-71-140
Minimum sales price.§ 59-71-150
Credit pledged for payment; tax.§ 59-71-160
Exemption of bonds from taxes.§ 59-71-170
Bonds as legal investments.§ 59-71-180
Deposit and use of proceeds.§ 59-71-20
Definitions.Cite This Page — Counsel Stack
Bluebook (online)
South Carolina § 59-71-180, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/71/59-71-180.