South Carolina Code 11-43-630. Application of proceeds
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Terms Used In South Carolina Code 11-43-630
- Board: means the Board of Directors of the South Carolina Transportation Infrastructure Bank. See South Carolina Code 11-43-510
- Bonds: means bonds, notes, or other evidence of indebtedness except as otherwise provided in Article 3 of this chapter. See South Carolina Code 11-43-130
The proceeds derived from the sale of transportation infrastructure bonds must be applied only to the purposes set forth in the resolution of the state board pursuant to which the bonds are issued.