The proceeds derived from the sale of any such bonds shall be deposited with the county treasurer in a special fund to the credit of the county and shall be applied solely to the purposes for which the bonds were issued, except that the premium, if any, shall be placed in the sinking fund established by Section 4-15-150 and the accrued interest, if any, shall be used to discharge in part the first interest to become due on such bonds.
S.C. Code Ann. § 4-15-180
Deposit and application of proceeds of sale of bonds
Known as the The County Bond Act
The act spans §§ 4–4 (18 sections).
1962 Code SECTION 14-528; 1952 Code SECTION 14-528; 1951 (47) 763.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.