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INTRODUCED
May 31, 2006
H. 5263
Introduced by Reps. Hinson, Merrill, Dantzler, Umphlett and Limehouse
L. Printed 5/31/06--H.
Read the first time May 31, 2006.
TO PROVIDE THAT FOR PURPOSES OF THE BONDING LIMITATIONS OF THE BERKELEY COUNTY SCHOOL DISTRICT, THAT A TRANSFEREE OF THE DISTRICT IS CONSIDERED THE SCHOOL DISTRICT UNDER CERTAIN CONDITIONS, AND TO REQUIRE APPROVAL OF THE BERKELEY COUNTY DELEGATION BEFORE A BOND ISSUE IS INITIATED BY THE DISTRICT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. For purposes of limits on the bonding indebtedness of the Berkeley County School District, a complete or partial successor-in-interest to, or other transferee of, the school district or other associate of any kind of the school district is deemed to be the Berkeley County School District when the successor, transferee, or associate undertakes all or a portion of the operation or assumes all or a portion of a duty of the school district.
SECTION 2. Before a bond issue is initiated by the Berkeley County School District, a majority of the members of the Berkeley County delegation in the House of Representatives and a majority of the members of the Berkeley County delegation in the Senate must approve the bond issue.
SECTION 3. The provisions of this act take effect upon approval by the Governor and apply with regard to all transfers made and all bond issues made after that date, to which these subsections apply.
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