The proceeds derived from the sale of transportation infrastructure bonds must be applied only to the purposes set forth in the resolution of the state board pursuant to which the bonds are issued.
S.C. Code Ann. § 11-43-630
Application of proceeds
Known as the South Carolina Transportation Infrastructure Bank Act
The act spans §§ 11-43-110 to 11-43-630 (46 sections).
1997 Act No. 148, SECTION 2.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.