South Carolina § 5-21-790 - Use and pledge of assessments collected.
Full text of South Carolina South Carolina Code of Laws § 5-21-790 — Use and pledge of assessments collected., with citation guidance and answers to common questions.
§ 5-21-790. Use and pledge of assessments collected.
All moneys derived from the collection of the assessments upon which any such paving bonds are predicated, which are collected subsequent to the passage of the ordinance authorizing the bonds, including all interest on any deferred payment of the assessments, shall be placed in a special fund to be used only for the payment of the principal and interest of the bonds. The amount of such special fund to be applied to the payment of interest shall not exceed so much of such fund as shall have been derived from the collections by way of interest on deferred payments of the assessments. The special fund shall be pledged for such purposes and such pledge shall be an obligation of the contract between the municipality and the holders of its paving bonds.
HISTORY: 1962 Code SECTION 47-860.19; 1952 Code SECTION 47-860.19; 1951 (47) 767.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 5-21-790
What does South Carolina Code of Laws § 5-21-790 cover?
Section 5-21-790 ("Use and pledge of assessments collected.") 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 § 5-21-790?
A common citation format is "South Carolina Code of Laws § 5-21-790" (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 § 5-21-790 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.