South Carolina § 59-123-95 - Board may borrow to purchase diagnostic and therapeutical equipment.
Full text of South Carolina South Carolina Code of Laws § 59-123-95 — Board may borrow to purchase diagnostic and therapeutical equipment., with citation guidance and answers to common questions.
§ 59-123-95. Board may borrow to purchase diagnostic and therapeutical equipment.
In order to raise moneys which are required to pay the cost of diagnostic and therapeutical equipment for use in the hospital operated by The Medical University of South Carolina (The Medical University), the Board of Trustees of the University with the approval of the State Fiscal Accountability Authority of South Carolina (the state board) may borrow such amounts as shall be required for such purposes. Not more than two million dollars of debt created pursuant to this section shall be outstanding at any time.
The borrowing authorized by this section shall be in the form of notes of The Medical University payable solely from charges for the service or use rendered by the equipment. Upon its acquisition, an appropriate schedule of charges shall be placed in effect and maintained. All moneys received from the charges shall be remitted to the State Treasurer and deposited in a special fund to be applied to the payment of the principal and interest on the notes. With the approval of the state board any surplus in such fund may be used as a revolving fund to purchase additional diagnostic and therapeutic equipment.
No note may be issued hereunder unless the use of its proceeds, its terms, its maturities and the service charge to be imposed for the use of the purchased equipment is approved by the state board.
The charges imposed by authority of this section shall be in addition to the "special charge" established and maintained pursuant to Section 14 of act 1654 of 1972 imposed to secure in part all Plant Improvement Bonds of The Medical University now or hereafter issued.
HISTORY: 1977 Act No. 219, Part II, SECTION 17; 1978 Act No. 644, Part II, SECTION 42.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 59-123-95
What does South Carolina Code of Laws § 59-123-95 cover?
Section 59-123-95 ("Board may borrow to purchase diagnostic and therapeutical equipment.") 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 § 59-123-95?
A common citation format is "South Carolina Code of Laws § 59-123-95" (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 § 59-123-95 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.