South Carolina Code 44-20-1160. Use of monies derived from revenues
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Terms Used In South Carolina Code 44-20-1160
- Commission: means the South Carolina Commission on Disabilities and Special Needs, the policy-making and governing body of the Department of Disabilities and Special Needs. See South Carolina Code 44-20-30
- Department: means the South Carolina Department of Disabilities and Special Needs. See South Carolina Code 44-20-30
- its revenues: means revenue derived from paying clients at regional residential centers and community residences but does not include Medicaid, Medicare, or other federal funds received with the stipulation that they be used to provide services to clients. See South Carolina Code 44-20-30
- Obligations: means the obligations in the form of notes or bonds or contractual agreements issued or entered into by the commission pursuant to the authorization of this chapter and of Act 1377 of 1968 to provide funds with which to repay the proceeds of capital improvement bonds allocated by the State Fiscal Accountability Authority. See South Carolina Code 44-20-30
Upon receiving the approval of the State Fiscal Accountability Authority or Department of Administration, as appropriate, the commission shall obligate itself to apply all monies derived from its revenues to the payment of the principal and interest of its outstanding obligations and those to be issued and to deliver to the board its obligations.