To obtain funds for allocation to the research universities for the financing of research infrastructure projects, and for the other purposes set forth in Section 11-51-125, there may be issued general obligation debt pursuant to the conditions prescribed by this chapter; provided, however, that the amount of the general obligation debt issued pursuant to this chapter that may be outstanding at any one time shall not exceed two hundred fifty million dollars.
S.C. Code Ann. § 11-51-40
Issuance of general obligation debt authorized; limitations
Known as the South Carolina Research University Infrastructure Act
The act spans §§ 11–11 (20 sections).
2004 Act No. 187, SECTION 9.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.