S 0753 Joint Resolution, By Leatherman, Setzler and Massey
 A JOINT RESOLUTION TO PROVIDE THAT THE BOARD OF DIRECTORS OF THE PUBLIC
 SERVICE AUTHORITY SHALL PLACE THE SECURITIZED PROCEEDS IT RECEIVED FROM THE
 SETTLEMENT MITIGATION WITH THE CONSTRUCTION CONTRACTOR OF THE TWO ABANDONED
 NUCLEAR REACTORS AT JENKINSVILLE IN AN ESCROW ACCOUNT UNTIL SUCH TIME AS THE
 JOINT BOND REVIEW COMMITTEE APPROVES THE FURTHER USE OF THE FUNDS.

   12/06/17  Senate Prefiled
   12/06/17  Senate Referred to Committee on Finance
   01/09/18  Senate Introduced and read first time (Senate Journal-page 32)
   01/09/18  Senate Referred to Committee on Finance
                     (Senate Journal-page 32)

TO PROVIDE THAT THE BOARD OF DIRECTORS OF THE PUBLIC SERVICE AUTHORITY SHALL PLACE THE SECURITIZED PROCEEDS IT RECEIVED FROM THE SETTLEMENT MITIGATION WITH THE CONSTRUCTION CONTRACTOR OF THE TWO ABANDONED NUCLEAR REACTORS AT JENKINSVILLE IN AN ESCROW ACCOUNT UNTIL SUCH TIME AS THE JOINT BOND REVIEW COMMITTEE APPROVES THE FURTHER USE OF THE FUNDS.

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

SECTION    1.    The Board of Directors of the Public Service Authority shall place the securitized proceeds it received from the settlement mitigation with the construction contractor of the two abandoned nuclear reactors at Jenkinsville in an escrow account until such time as the Joint Bond Review Committee approves the further use of the funds. The board may not approve and the authority may not expend any of these funds for a purpose or use other than as permitted by this section.

SECTION    2.    This joint resolution takes effect upon approval by the Governor.