No bond, note, coupon or other obligation issued pursuant to the provisions of this chapter shall ever constitute a debt of the State within the meaning of any State constitutional or statutory provision and each bond shall recite on its face that it is payable solely from the revenues pledged to the payment thereof and that it does not constitute a debt of the State.
S.C. Code Ann. § 51-7-100
Revenue obligations are not debts of State
1962 Code SECTION 51-250; 1952 Code SECTION 51-250; 1942 Code SECTION 3284-5; 1940 (41) 1785.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.