South Carolina Code 11-51-100. Issuance of general obligation debt or anticipation notes
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Terms Used In South Carolina Code 11-51-100
- General obligation debt: means any indebtedness of the State which must be secured in whole or in part by a pledge of the full faith, credit and taxing power of the State, including, but not limited to, bonds, notes, and other evidences of indebtedness, and issued pursuant to the provisions of this chapter. See South Carolina Code 11-51-30
- 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.
- State board: means the governing board of the State Fiscal Accountability Authority. See South Carolina Code 11-51-30
Following the receipt of the information presented pursuant to § 11-51-80, and after approval by the Joint Bond Review Committee, the state board, by resolution duly adopted, shall effect the issuance of general obligation debt, or pending the issuance of the general obligation debt, effect the issuance of general obligation debt anticipation notes pursuant to Chapter 17 of this title.