S.C. Code § 6-21-480
Disposition of surplus in operation and maintenance fund
South Carolina · South Carolina Code Title 6, Chapter 21 — Revenue Bond Act for Utilities · Status: effective
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- Citation
- S.C. Code § 6-21-480, Disposition of surplus in operation and maintenance fund, South Carolina, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1566463
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Full text
If any surplus shall be accumulated in the operation and maintenance fund which shall be equal to the cost of operating and maintaining the system, project or combined system during the remainder of the calendar, operating or fiscal year, as provided by the authorizing ordinance, and the cost of operating and maintaining the system, project or combined system during the succeeding like calendar, operating or fiscal year, any such surplus may be transferred at any time by the governing body to the depreciation fund, the contingent fund or the bond and interest redemption fund.