S.C. Code Ann. § 4-23-1260: Indebtedness of district; contract provisions between district and holder of obligations.

So long as the district is indebted to a person on any bonds, notes or other obligations issued pursuant to the authority of this act, the provisions of this act and the powers granted to the district and the commission are not in any way diminished or restricted, and this provision of this act is considered a part of the contract between the district and the holders of these obligations.