The proceeds received from the issuance of bonds, after deducting the costs of issuance, must be expended only for the purpose of providing infrastructure.
S.C. Code Ann. § 11-41-170
Expenditure of proceeds
Known as the State General Obligation Economic Development Bond Act
The act spans §§ 11–11 (19 sections).
2002 Act No. 254, SECTION 1.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.