South Carolina Code 31-3-420. Consent required from housing authority having outstanding indebtedness or obligations before other housing authority may undertake project in municipality
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Terms Used In South Carolina Code 31-3-420
- Contract: A legal written agreement that becomes binding when signed.
- 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.
During the time that a housing authority of a municipality has outstanding or is under contract to issue any evidences of indebtedness for a project within its municipality, no other housing authority may undertake a project within such municipality without the consent of such housing authority which has such outstanding indebtedness or obligation.