South Carolina § 6-21-500 - Disposition of surplus in contingent fund.
Full text of South Carolina South Carolina Code of Laws § 6-21-500 — Disposition of surplus in contingent fund., with citation guidance and answers to common questions.
§ 6-21-500. Disposition of surplus in contingent fund.
If any surplus shall be accumulated in the contingent fund over and above that which the governing body shall find may be necessary for reasonable and proper improvements, betterments and extensions to the existing system, project or combined system during the current calendar, operating or fiscal year and the next ensuing calendar, operating or fiscal year, any such excess may be transferred to the bond and interest redemption fund or may be applied, in so far as possible, in the purchase or retirement of outstanding bonds issued under the provisions of this chapter and for that purpose the governing body may purchase bonds not due in the open market at not more than the fair market value thereof. When such bonds are purchased for investment the income from such investment shall be carried into the contingent fund.
HISTORY: 1962 Code SECTION 59-408; 1952 Code SECTION 59-408; 1942 Code SECTION 9269; 1933 (38) 411.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 6-21-500
What does South Carolina Code of Laws § 6-21-500 cover?
Section 6-21-500 ("Disposition of surplus in contingent fund.") 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 § 6-21-500?
A common citation format is "South Carolina Code of Laws § 6-21-500" (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 § 6-21-500 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.