True or False: Municipalities may borrow up to 8% of the assessed value of their taxable property
Answer: True
Article X, Section 14, of the South Carolina Constitution allows municipalities to issue general obligation bonds in amounts of up to 8% of the total assessed value of all taxable property in the municipality. Municipalities may exceed the 8% limit only with voter approval through a referendum.
The Municipal Elected Officials Institute of Government offers online courses. In-person classes will resume when COVID-19 activity drops to safe levels. To register for the on-demand courses, go to the Municipal Association's website at www.masc.sc and log in with your user identification number and password. The on-demand courses can be accessed 24/7 from any computer, tablet or mobile device that has internet connection and may be taken in any order.