South Carolina Code of Regulations
Chapter 68 - SOUTH CAROLINA JOBS--ECONOMIC DEVELOPMENT AUTHORITY
68-55 - Bond Issues.
68-55. Bond Issues.
A. The Authority may issue economic development bonds upon receipt of the following:
(1) A certified resolution by the county or incorporated municipality in which the project is or will be located, containing a finding that the project is anticipated to benefit the general public welfare of the locality by providing services, employment, recreation or other public benefits not otherwise provided locally.
(2) Evidence of a public hearing held in the incorporated municipality or county in which the project is to be located not less than fifteen days after publication of notice in a newspaper of general circulation in the incorporated municipality or county in which the project is or will be located.
B. The Authority may combine for the purposes of a single offering bonds to finance more than one project.
C. Bonds issued by the Authority may bear interest at such rate or rates, whether fixed or variable, as the Authority may determine.