Terms Used In South Carolina Code 59-67-530

  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
The Board shall be responsible for all expenses of operation of State-owned buses and for the replacement of obsolete equipment. The State shall assume no obligation whatever for the expenses of operating buses owned by local or county school agencies, except as provided in § 59-67-460.