Section 11-17-70. Notes secured by full faith, credit, and taxing power of borrower.

SC Code § 11-17-70 (2019) (N/A)
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Notes issued pursuant to this chapter in anticipation of the issuance of general obligation bonds shall be general obligations of the borrower also secured by a pledge of the full faith, credit and taxing power of the borrower, and any governing body is authorized to make such a pledge in the proceedings providing for the issuance of any notes pursuant to this chapter in anticipation of the issuance of general obligation bonds.

HISTORY: 1962 Code Section 1-625.1; 1969 (56) 809.