{"data":{"id":"us-sc/s.c.-code-ann.-6-24-130","jurisdiction":"us-sc","citation":"S.C. Code Ann. § 6-24-130","heading":"Assurance of payment of principal or interest on bonds.","body":"If a joint agency undertakes a project requiring financing, in whole or in part, with the proceeds of bonds, and the payment of principal or interest on the bonds is assured directly or indirectly by a contract with one or more members, the project must not be undertaken without the approval of the governing body of each member which provides assurance. For these purposes, a member has not assured payment on bonds unless its obligation pursuant to the contract is absolute and without regard to the completion or operation of the project.","path":["Title 6 - LOCAL GOVERNMENT—PROVISIONS APPLICABLE TO SPECIAL PURPOSE DISTRICTS AND OTHER POLITICAL SUBDIVISIONS","CHAPTER 24 Joint Agency Act"],"source_url":"https://www.scstatehouse.gov/code/t06c024.php","current_through":"2025 Session of the General Assembly","vintage":"","retrieved_at":"2026-09-02T06:25:34Z","sha256":"df22c1faf9c0631fbfe7ab86b5ddeb80c56621da9a3c6f3a4dd00de93b7911b1","source_id":"us-sc","stale":false,"prev":"us-sc/s.c.-code-ann.-6-24-120","next":"us-sc/s.c.-code-ann.-6-24-140"},"notice":"GroundRules: Original legal text. Not legal advice."}