As a means of raising the funds needed in the acquisition, construction, equipment, maintenance, and operation of any facility, building, structure, or other matter or thing which the authority is authorized to acquire, construct, equip, maintain, or operate, all or any of them, the authority, subject to the approval of the State Fiscal Accountability Authority or Department of Administration, as applicable, may borrow money and make and issue negotiable notes, or other evidences of indebtedness and provide for their payment under terms and conditions the authority determines.
HISTORY: 1962 Code Section 51-99.3; 1973 (58) 132; 1990 Act No. 349, Section 3.
Code Commissioner's Note
At the direction of the Code Commissioner, references in this section to the offices of the former State Budget and Control Board, Office of the Governor, or other agencies, were changed to reflect the transfer of them to the Department of Administration or other entities, pursuant to the directive of the South Carolina Restructuring Act, 2014 Act No. 121, Section 5(D)(1), effective July 1, 2015.