South Carolina Code 59-122-60. State’s faith and credit not pledged for payment; board members not personally liable
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Terms Used In South Carolina Code 59-122-60
- Board: means the Board of Visitors of The Citadel. See South Carolina Code 59-122-10
- bonds: means any note, bond, installment contract, or other evidence of indebtedness issued pursuant to this chapter. See South Carolina Code 59-122-10
The faith and credit of the State of South Carolina is not pledged for the payment of the principal and interest of the bonds, and there must be on the face of each bond a statement plainly worded to that effect. Neither the members of the board nor any other person signing the bonds are personally liable for them.