S.C. Code Ann. § 51-13-810: Authorization to borrow money.

As a means of raising the funds needed in the acquisition, construction, equipment, maintenance, and operation of any facility, building, structure, or other matter or thing which the authority is authorized to acquire, construct, equip, maintain, or operate, all or any of them, the authority, subject to the approval of the State Fiscal Accountability Authority or Department of Administration, as applicable, may borrow money and make and issue negotiable notes, or other evidences of indebtedness and provide for their payment under terms and conditions the authority determines.