A joint agency may issue bonds pledging to the payment thereof as to both principal and interest the revenues, or any portion thereof, derived or to be derived from all or any of its projects, and any additions and betterments thereto or extensions thereof, or contributions or advances from its members. Bonds of a joint agency shall be authorized by resolution adopted by its board of directors.
S.C. Code Ann. § 6-23-130
Issuance of bonds authorized
Known as the Joint Municipal Electric Power and Energy Act
The act spans §§ 6–6 (35 sections).
1978 Act No. 473, SECTION 14.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.