For the period the district is indebted to a person on any bonds, notes, or other obligations issued pursuant to the provisions of this article, the powers granted to the district and the authority may not be diminished. The provisions of this article are considered a part of the contract between the district and the holders of the obligations.
S.C. Code Ann. § 55-11-690
Obligations not to be impaired
1990 Act No. 545, SECTION 3; 1998 Act No. 365, SECTION 1, eff June 10, 1998; 2012 Act No. 270, SECTION 5, eff June 18, 2012.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.