South Carolina Code 59-147-70. Signature of bonds
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Terms Used In South Carolina Code 59-147-70
- board: means the board of trustees of the university;
(2) "equipment" means items with a useful life of at least fifteen years;
(3) "facilities" means the real and personal property and equipment specified in § 59-147-20(2) of this chapter whether or not the acquisition or construction thereof is financed from the proceeds of bonds issued pursuant to this chapter;
(4) "revenues" means the revenues derived or to be derived from the operation, sale, lease, or other disposition of the facilities; and
(5) "university" means all research and four-year public institutions of higher education. See South Carolina Code 59-147-20
The bonds must be signed in the corporate name of the university by the manual or facsimile signature of the acting chairman of the board of the university, under the corporate seal of the university attested by the manual or facsimile signature of the acting secretary of the board. Any interest coupons attached to the bonds must be signed by the facsimile signatures of these officers. The bonds may be issued notwithstanding that any of the officials signing them or whose facsimile signatures appear on the coupons have ceased to hold office at the time of the issue or at the time of the delivery of the bonds to the purchaser.