South Carolina Code 59-147-100. Effect of authorizing resolution to issue bonds; enforceability of contract
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Terms Used In South Carolina Code 59-147-100
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
All provisions of a resolution authorizing or providing for the issuance of the bonds in accordance with § 59-147-40 and of the covenants and agreements constitute valid and legally binding contracts between the university and the several holders of the bonds, regardless of the time of issuance of the bonds, and are enforceable by the holder or holders by mandamus or other appropriate action, suit, or proceeding at law or in equity in any court of competent jurisdiction.