All refunding bonds shall be ratably secured.

S.C. Code Ann. § 6-17-110
in effect
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All refunding bonds of the same issue shall be equally and ratably secured, without priority by reason of number or date of bonds, of sale, of execution or of delivery, by a lien upon the revenues of the enterprise in accordance with the provisions of SECTION 6-17-90 and the resolution authorizing the issuance of such refunding bonds.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.scstatehouse.gov/code/t06c017.phpFetched: 10/17/2026

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