South Carolina Statutes
§ 59-71-70 — Maturity of bonds.
Such bonds shall mature in such annual series or installments as the authorities shall provide, except that:
(1)The first maturing bonds shall mature within three years from the date as of which they may be issued;
(2)Not less than three per cent of the aggregate of the issue shall mature in any year; and (3) No bond shall mature later than twenty-five years from the date as of which it may be issued. The provisions of this section shall not prevent the authorities from issuing the aggregate of the bonds authorized by the election on one or more occasions as two or more issues.
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South Carolina § 59-71-70 (Maturity of bonds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 21-977; 1952 Code SECTION 21-977; 1951 (47) 759.
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.