The maximum amount of annual debt service on all outstanding state institution bonds for each state institution shall not exceed ninety percent of the sums received by such state institution from tuition fees for the preceding fiscal year, as provided in Section 13(6)(b) of Article X of the South Carolina Constitution.
S.C. Code Ann. § 59-107-90
Maximum amount of outstanding bonds
1962 Code SECTION 22-29; 1953 (48) 169; 1957 (50) 404; 1961 (52) 476; 1966 (54) 2263; 1967 (55) 689; 1968 (55) 3049; 1976 Act No. 582, SECTION 2; 1979 Act No. 194, Part I, SECTI…
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.