South Carolina Code 59-119-940. Borrowings; limitations on bonds
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Terms Used In South Carolina Code 59-119-940
- Authority: means the State Fiscal Accountability Authority. See South Carolina Code 59-119-920
- bonds: means any note, bond, installment contract, or other evidence of indebtedness issued pursuant to this article. See South Carolina Code 59-119-920
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Trustees: means the board of trustees of Clemson or any successor body. See South Carolina Code 59-119-920
Upon receiving the approval of the State Fiscal Accountability Authority or the Department of Administration, as appropriate, and upon review by the Joint Bond Review Committee, the trustees may from time to time borrow such sums as necessary to accomplish the purpose of this article and to evidence such borrowings by bonds issued pursuant to this article in the aggregate principal amount as they determine, except that other provisions of this article to the contrary notwithstanding, there must not be outstanding at any time bonds issued pursuant to this article in the aggregate principal amount as they determine, except that other provisions of this article to the contrary notwithstanding, there must not be outstanding at any time bonds issued pursuant to this article in excess of two hundred million dollars.