South Carolina § 6-21-220 - Terms, form and execution of bonds.
Full text of South Carolina South Carolina Code of Laws § 6-21-220 — Terms, form and execution of bonds., with citation guidance and answers to common questions.
§ 6-21-220. Terms, form and execution of bonds.
Such serial bonds shall bear interest at not more than six per cent per annum, payable semiannually, and shall be payable at such times, not exceeding forty-five years from their date, and at such places as shall be prescribed in the ordinance or resolution providing for their issuance. The bonds and their coupons shall be made payable in lawful money of the United States. The bonds shall mature annually or semiannually, and the first installment thereof shall be made payable not more than five years from the date thereof. The principal of and interest upon such bonds shall be payable solely from the revenues derived from the operation of the system or project for the purchase, construction, improvement, enlargement, extension or repair of which they are issued except that when a borrower improves, enlarges, extends or repairs any system or project named in SECTION 6-21-50 the principal of and interest upon such bonds may be made payable from the revenues derived from the operation of the entire system or project. No bonds or coupon issued pursuant to this chapter shall constitute an indebtedness of the borrower within the meaning of any State constitutional provision or statutory limitations. It shall be plainly stated on the face of each such bond and coupon that it has been issued under the provisions of this chapter and that it does not constitute an indebtedness of the borrower within any State constitutional provisions or statutory limitation.
The bonds and coupons shall be executed in such manner and shall be substantially in the form provided in the authorizing ordinance or resolution.
HISTORY: 1962 Code SECTION 59-382; 1952 Code SECTION 59-382; 1942 Code SECTION 9249; 1933 (38) 411; 1937 (40) 483; 1939 (41) 153, 344.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 6-21-220
What does South Carolina Code of Laws § 6-21-220 cover?
Section 6-21-220 ("Terms, form and execution of bonds.") 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 § 6-21-220?
A common citation format is "South Carolina Code of Laws § 6-21-220" (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 § 6-21-220 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.