The governing body of the issuer may provide in the proceedings taken in connection with the issuance of refunding bonds that either the bonds or the coupons shall be receivable for taxes due to the issuer during the year in which they respectively mature.
S.C. Code Ann. § 11-15-570
Use of bonds to pay taxes
Known as the Refunding Act
The act spans §§ 11–11 (20 sections).
1962 Code SECTION 1-697; 1952 Code SECTION 1-697; 1951 (47) 755.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.