S.C. Code Ann. § 6-17-110: All refunding bonds shall be ratably secured.

All refunding bonds of the same issue shall be equally and ratably secured, without priority by reason of number or date of bonds, of sale, of execution or of delivery, by a lien upon the revenues of the enterprise in accordance with the provisions of SECTION 6-17-90 and the resolution authorizing the issuance of such refunding bonds.