S.C. Code Ann. § 59-130-430: Authority to issue bonds; purpose.

Subject to the approval of the State Fiscal Accountability Authority or the Department of Administration, as appropriate, by resolution adopted, the university may issue bonds of the university for the purpose of financing or refinancing in whole or in part the cost of acquisition, construction, reconstruction, renovation and improvement of land, buildings, and other improvements to real property and equipment for the purpose of providing certain academic and administrative buildings as defined in this article serving the needs of the university.