South Carolina § 11-41-90 - Authorizing resolution.
Full text of South Carolina South Carolina Code of Laws § 11-41-90 — Authorizing resolution., with citation guidance and answers to common questions.
§ 11-41-90. Authorizing resolution.
To effect the issuance of bonds, the State Fiscal Accountability Authority shall adopt a resolution providing for the issuance of bonds pursuant to the provisions of this chapter. The authorizing resolution must include:
(1) a statement of whether the bonds are being authorized and issued pursuant to Section 11-41-50(A), Section 11-41-50(B), or Section 11-41-50(C);
(2) a schedule showing the aggregate of bonds issued, the annual principal payments required to retire the bonds, and the interest on the bonds;
(3) the amount of bonds proposed to be issued;
(4) a schedule showing future annual principal requirements and estimated annual interest requirements on the bonds to be issued; and
(5) certificates evidencing that the provisions of Sections 11-41-50 and 11-41-60 have been or will be met.
(6) a statement that the resolution required by this section for the issuance of bonds pursuant to this chapter is adopted not later than eighteen months after the date of the first notification to the Joint Bond Review Committee and the State Fiscal Accountability Authority with respect to such economic development project pursuant to Section 11-41-70.
HISTORY: 2002 Act No. 254, SECTION 1; 2009 Act No. 124, SECTION 5.D; 2013 Act No. 13, SECTION 9, eff April 23, 2013; 2014 Act No. 121 (S.22), Pt VII, SECTION 20.H.2, eff July 1, 2015.
Code Commissioner's Note
The reference to Section 11-41-50(C) in subsection (1), and subsection (6) were inadvertently omitted from 2014 Act No. 121, SECTION 20.H.2. This text, as added by 2013 Act No. 13, SECTION 9, has been restored, and the phrase "Fiscal Accountability Authority" has been substituted in subsection (6) for "Budget and Control Board".
Effect of Amendment
The 2013 amendment, in subsection (1), inserted the reference to Section 11-41-50(C), and added subsection (6), relating to Section 11-41-70.
2014 Act No. 121, SECTION 20.H.2, in the first undesignated paragraph, substituted "Fiscal Accountability Authority" for "Budget and Control Board"; and made other nonsubstantive changes.
Frequently Asked Questions About South Carolina § 11-41-90
What does South Carolina Code of Laws § 11-41-90 cover?
Section 11-41-90 ("Authorizing resolution.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 11-41-90?
A common citation format is "South Carolina Code of Laws § 11-41-90" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 11-41-90 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.