{"data":{"id":"us-sc/s.c.-code-ann.-57-5-1380--2","jurisdiction":"us-sc","citation":"S.C. Code Ann. § 57-5-1380","heading":"Choice lane facility revenue pledged for payment of bonds.","body":"(A) For the payment of the principal of and interest on all bonds, there is irrevocably pledged choice lane facility revenues to the extent and in the manner prescribed by the bond resolution. Any interest earned on choice lane facility account balances must be credited to the choice lane facility account as prescribed in the bond resolution.\n(B) The bonds authorized by this article are special limited obligations of the State. The principal and interest are payable solely out of the choice lane facility revenues. The bonds issued do not constitute an indebtedness of the State, State Fiscal Accountability Authority, or department within the meaning of any state constitutional provision or statutory limitation, except indebtedness payable solely from a revenue producing source or from a special source that does not include revenues from any tax within the meaning of Paragraph (9), Section 13, Article X of the South Carolina Constitution. The full faith, credit, and taxing powers of the State, State Fiscal Accountability Authority, or department are not pledged to the payment of the bonds and this fact must be plainly stated on the face of each bond. The State Fiscal Accountability Authority and the department each lack taxing power. The General Assembly finds that choice lane facilities constitute a revenue producing project for the purposes of Paragraph (9), Section 13, Article X of the South Carolina Constitution.","path":["Title 57 - HIGHWAYS, BRIDGES AND FERRIES","CHAPTER 5 State Highway System","ARTICLE 9 Turnpike Projects"],"source_url":"https://www.scstatehouse.gov/code/t57c005.php","current_through":"2026 Session of the General Assembly","vintage":"","retrieved_at":"2026-10-25T04:27:40Z","sha256":"b47b442f9778f3d157800411007731b4294dafbf9a5696d18b7097bbec455ad8","source_id":"us-sc","stale":false,"prev":"us-sc/s.c.-code-ann.-57-5-1380","next":"us-sc/s.c.-code-ann.-57-5-1390"},"notice":"GroundRules: Original legal text. Not legal advice."}