The maximum annual debt service on general obligation bonds issued or outstanding as state highway bonds shall not exceed the debt service limits established in Article X, Section 13 of the South Carolina Constitution. Within such limitations, state highway bonds may be issued for state highway transportation purposes or to refund state highway bonds from time to time under the conditions prescribed by this article.
S.C. Code Ann. § 57-11-240
Limitation on maximum annual debt service; authority to issue state highway bonds
1962 Code SECTION 33-274; 1972 (57) 3088; 1974 (58) 2273; 1975 (59) 312; 1993 Act No. 181, SECTION 1524; 1995 Act No. 33, SECTION 6.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.