All funds of the Authority shall be deposited in a bank or banks to be designated by the State Treasurer. Funds of the Authority shall be paid out only upon warrants signed by the director of the Authority and countersigned by the chairman or the acting chairman. No warrants shall be drawn or issued disbursing any of the funds of the Authority except for a purpose authorized by this article and only when the account or expenditure for which they are to be given in payment has been audited and approved by the Authority. The Authority may accept contributions of money or property from all persons for the construction, equipping and operation of its facilities and improvements in the areas within its jurisdiction; and may receive such State, Federal or other grants or appropriations as may be made to it from time to time. HISTORY: 1962 Code Section 51-99.4; 1973 (58) 132.
South Carolina Legal Code