S.C. Code § 6-25-120

Current through 2024 Act No. 225.

Section 6-25-120 - Repayment of notes, obligations, or bonds

A joint system may not pledge the full faith, credit, or taxing power of its members when borrowing money or issuing a bond, note, or other obligation. Only revenues and other funds available to the joint system may be used to pay or pledged to the repayment of any notes, obligations, or bonds.

S.C. Code § 6-25-120

2007 Act No. 59, Section 1, eff 6/6/2007; 1999 Act No. 113, Section 15; 1997 Act No. 74, Section 7; 1983 Act No. 82, Section 2.