South Carolina § 6-21-310 - Use of proceeds from bonds.
Full text of South Carolina South Carolina Code of Laws § 6-21-310 — Use of proceeds from bonds., with citation guidance and answers to common questions.
§ 6-21-310. Use of proceeds from bonds.
All moneys received from any such bonds shall be used solely for the purchase, construction, improvement, enlargement, extension or repair of the system, project or combined system for which the bonds were issued, including any engineering, legal and other expenses incident thereto, and to advance the payment of the interest on the bonds during the first three years following the date of the bonds. Any unexpended balance of the proceeds of the sale of any such bonds remaining after the completion of the project for which the bonds were issued shall be paid immediately into the bond and interest redemption fund for such bonds and shall be used only for the payment of the principal of the bonds or, in the alternative, to acquire outstanding bonds of the general issue from which the proceeds were derived by purchase of such bonds at a price (exclusive of accrued interest) not exceeding the face amount thereof. Any bonds so acquired by purchase shall be cancelled and shall not be reissued.
HISTORY: 1962 Code SECTION 59-389; 1952 Code SECTION 59-389; 1942 Code SECTION 9258; 1933 (38) 411.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 6-21-310
What does South Carolina Code of Laws § 6-21-310 cover?
Section 6-21-310 ("Use of proceeds from 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 § 6-21-310?
A common citation format is "South Carolina Code of Laws § 6-21-310" (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 § 6-21-310 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.