S*0320(Rat #0045, Act #0182 of 2005)  General Bill, By Leatherman

Similar(H 3401)
 AN ACT TO AMEND ACT 518 OF 1980, AS AMENDED, RELATING TO THE UNIVERSITY OF
 SOUTH CAROLINA ATHLETIC FACILITIES REVENUE BONDS, SO AS TO RAISE THE
 OUTSTANDING DEBT LIMIT FOR THESE BONDS FROM FORTY MILLION TO SIXTY MILLION
 DOLLARS. - ratified title

   01/25/05  Senate Introduced and read first time SJ-11
   01/25/05  Senate Referred to Committee on Finance SJ-11
   02/23/05  Senate Committee report: Favorable with amendment
                     Finance SJ-19
   02/24/05  Senate Amended SJ-16
   02/24/05  Senate Read second time SJ-16
   03/01/05  Senate Read third time and sent to House SJ-10
   03/02/05  House  Introduced and read first time HJ-6
   03/02/05  House  Referred to Committee on Ways and Means HJ-6
   04/13/05  House  Committee report: Favorable Ways and Means HJ-9
   04/19/05  House  Read second time HJ-67
   04/19/05  House  Roll call Yeas-114  Nays-0 HJ-67
   04/20/05  House  Read third time and enrolled HJ-33
   04/28/05         Ratified R 45
   05/03/05         Signed By Governor
   05/05/05         Copies available
   05/05/05         Effective date 05/03/05
   07/20/05         Act No. 182

(A182, R45, S320)

AN ACT TO AMEND ACT 518 OF 1980, AS AMENDED, RELATING TO THE UNIVERSITY OF SOUTH CAROLINA ATHLETIC FACILITIES REVENUE BONDS, SO AS TO RAISE THE OUTSTANDING DEBT LIMIT FOR THESE BONDS FROM FORTY MILLION TO SIXTY MILLION DOLLARS.

Be it enacted by the General Assembly of the State of South Carolina:

References

SECTION    1.    By Act 302 of 1996 and Act 6 of 1997, the General Assembly purported to amend Section 9C of Act 518 of 1980. The adopted amendments were intended to amend Section 9D of Act 518 of 1980, as evidenced by both the caption of the subsection and its content. Therefore, Act 302 of 1996 and Act 6 of 1997 are amended to correct the reference and change it to Section 9D of Act 518 of 1980 instead of Section 9C.

Additional bonds authorized

SECTION    2.    Section 9D of Act 518 of 1980, as last amended by Act 6 of 1997, is further amended to read:

"D.    May Issue Bonds.

Subject to obtaining the approval of the state board expressed by resolution duly adopted, the trustees are authorized to issue from time to time not exceeding sixty million dollars of bonds for the purpose of acquiring, constructing, reconstructing, renovating, or equipping athletic facilities and for the purpose of refunding any previous series of bonds authorized by this section. If the trustees, in authorizing the issuance of bonds pursuant to this section, prescribe by resolution that there must be on deposit in the Bond Reserve Fund certain sums at the time of the delivery of the bonds, the trustees are empowered to utilize a portion of the proceeds of any series of bonds issued pursuant to this section in order to meet the requirement."

Time effective

SECTION    3.    This act takes effect upon approval by the Governor.

Ratified the 28th day of April, 2005.

Approved the 3rd day of May, 2005.