The bonds must bear the date and mature at the time that the resolution provides, except that a bond may not mature more than thirty years from its date of issue. The bonds may be in the denominations, be payable in the medium of payment, be payable at the place and at the time, and be subject to redemption or repurchase and contain other provisions determined by the State Fiscal Accountability Authority before their issue. The bonds may bear interest payable at the times and at the rates determined by the State Fiscal Accountability Authority.
S.C. Code Ann. § 11-41-100
Bond maturity date and terms; determination of interest rate
Known as the State General Obligation Economic Development Bond Act
The act spans §§ 11–11 (19 sections).
2002 Act No. 254, SECTION 1; 2014 Act No. 121 (S.22), Pt VII, SECTION 20.H.2, eff July 1, 2015.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.