South Carolina Code 11-9-370. State agency to remit revenue for payments on general obligation bonds to State Treasurer
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Terms Used In South Carolina Code 11-9-370
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
A state agency responsible by law for the collection of revenues from any source annually to be applied to payments of interest and principal on general obligation bonds of the State shall remit the revenue collected to the State Treasurer for credit to the state’s General Fund, and the revenue submitted constitutes a reimbursement.