South Carolina Code 4-15-70. Maturity of bonds
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Any such bonds shall mature in such annual series or installments as the authorities shall provide, except that:
(1) The first maturing bonds shall mature within three years from the date as of which they may be issued;
Terms Used In South Carolina Code 4-15-70
- authorities: shall mean the county board of commissioners or other board or body to which is delegated the administrative duties of the particular county; and
(2) The term "authorized purpose" shall mean any purpose for which the particular county might, under the applicable constitutional provisions, issue bonds or levy taxes. See South Carolina Code 4-15-20
(2) Not less than three per cent of the aggregate of the issue shall mature in any year; and
(3) No bond shall mature later than twenty-five years from the date as of which it may be issued.
The provisions of this section shall not prevent the authorities from issuing the aggregate of the bonds authorized by the election on one or more occasions, as two or more issues.