South Carolina § 31-9-60 - Loan agreements; leases between city and developer.
Full text of South Carolina South Carolina Code of Laws § 31-9-60 — Loan agreements; leases between city and developer., with citation guidance and answers to common questions.
§ 31-9-60. Loan agreements; leases between city and developer.
Any loan agreement may provide that the land will be owned by the city and leased to the developer; may provide the developer with an option to purchase the land upon such terms and conditions as the governing board and the developer shall agree upon at a price which may be a nominal amount or less than the true value at the time of purchase; may provide that the land shall become the property of the developer upon the acquisition thereof. In the event the loan agreement consists of a lease between the city and the developer of the land acquired with the proceeds of the bonds, the city may subordinate its right to receive rental payments to the lien of any mortgages upon the land or the buildings or other facilities or improvements constructed or to be constructed thereon.
HISTORY: 1962 Code SECTION 36-456; 1974 (58) 2337.
Editor's Note
See Editor's Note following chapter heading.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 31-9-60
What does South Carolina Code of Laws § 31-9-60 cover?
Section 31-9-60 ("Loan agreements; leases between city and developer.") 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 § 31-9-60?
A common citation format is "South Carolina Code of Laws § 31-9-60" (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 § 31-9-60 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.