S.C. Code Ann. § 48-3-140 – Approval of State Board required before issuance of bonds; application for and granting of approval

(A) No bonds may be issued pursuant to the provisions of this chapter until the proposal of the governing board to issue the bonds receives the approval of the state board. Whenever a governing board proposes to issue bonds pursuant to the provisions of this chapter, it shall file its petition with the state board setting forth:
1. (1) a brief description of the pollution control facilities proposed to be undertaken;
2. (2) a statement setting forth the action taken by the Department of Health and Environmental Control in connection with the pollution control facilities;
3. (3) a reasonable estimate of the cost of the pollution control facilities;
4. (4) a general summary of the terms and conditions of the loan agreement; and
5. (5) such other information as the state board requires.
(B) Upon the filing of the petition the state board, as soon as practicable, shall conduct the review as it considers advisable, and if it finds that the proposal of the governing board is intended to promote the purposes of this chapter, it is authorized to approve the proposal. Any time following the approval, the governing board may proceed with the issuance of bonds for the pollution control facilities in accordance with the proposal approved by the state board. Notice of the approval of the proposal by the state board must be published at least once by the state board in a newspaper having general circulation in the county where the pollution control facilities are to be located.
(C) Any interested party, within twenty days after the date of the publication of the notice, but not afterwards, may challenge the validity of the approval by action de novo in the court of common pleas in the county where the pollution control facilities are to be located.