S.C. Code § 11-15-470

Current through 2024 Act No. 225.

Section 11-15-470 - Maturities

Such refunding bonds shall mature in such annual series or installments, equal or unequal in amount, as the governing body shall provide, except that:

(1) The first maturing bonds shall mature within five years from the date as of which they are issued;

(2) Not less than two per cent of the aggregate of the issue shall mature in any year; and

(3) No bonds shall mature later than forty years from the date as of which they are issued.

S.C. Code § 11-15-470

1951 (47) 755; 1952 Code Section 1-687; 1962 Code Section 1-687.