The maximum amount of annual debt service on all outstanding state institution bonds for each state institution shall not exceed ninety percent of the sums received by such state institution from tuition fees for the preceding fiscal year, as provided in Section 13(6)(b) of Article X of the South Carolina Constitution.
HISTORY: 1962 Code Section 22-29; 1953 (48) 169; 1957 (50) 404; 1961 (52) 476; 1966 (54) 2263; 1967 (55) 689; 1968 (55) 3049; 1976 Act No. 582, Section 2; 1979 Act No. 194, Part I, Section 8; 1995 Act No. 145, Part II, Section 109; 1998 Act No. 419, Part II, Section 56; 1999 Act No. 40, Section 1.