The maximum annual debt service on general obligation bonds issued or outstanding as state highway bonds shall not exceed the debt service limits established in Article X, Section 13 of the South Carolina Constitution. Within such limitations, state highway bonds may be issued for state highway transportation purposes or to refund state highway bonds from time to time under the conditions prescribed by this article.
HISTORY: 1962 Code Section 33-274; 1972 (57) 3088; 1974 (58) 2273; 1975 (59) 312; 1993 Act No. 181, Section 1524; 1995 Act No. 33, Section 6.