If following presentation of a certified copy of the bond resolution it appears to the satisfaction of the Governor and the State Treasurer that the estimated collection from the sources of revenue in applicable future fiscal years are not less than that required for annual debt service requirements for the requested turnpike bonds, the Governor and State Treasurer may effect the delivery of bonds in accordance with the bond resolution.
S.C. Code Ann. § 57-5-1460
Power and duty of Governor and State Treasurer upon receipt of bond resolution
1980 Act No. 449; 1985 Act No. 201, Part II, SECTION 84D.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.