South Carolina General Assembly
118th Session, 2009-2010

Download This Version in Microsoft Word format

Bill 4887

Indicates Matter Stricken
Indicates New Matter

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

INTRODUCED

April 22, 2010

H. 4887

Introduced by Rep. Stavrinakis

L. Printed 4/22/10--H.

Read the first time April 22, 2010.

            

A JOINT RESOLUTION

TO PROVIDE THAT THE SCHOOL DISTRICT OF CHARLESTON COUNTY FOR FISCAL YEARS 2010-2011 AND 2011-2012 MAY EXPEND FUNDS GENERATED FROM A GENERAL OBLIGATION DEBT BOND ISSUE FOR SCHOOL OPERATING PURPOSES, IN ORDER TO DEAL WITH A SHORTAGE OF SCHOOL OPERATING FUNDS, IF PERMITTED BY THE FEDERAL LAW APPLICABLE TO THE PARTICULAR TYPES OF BONDS ISSUED AND IF IT DOES NOT VIOLATE ANY PROVISIONS OF THE BOND INDENTURE APPLICABLE TO THE ISSUANCE AND SALE OF THOSE BONDS.

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

SECTION    1.    The School District of Charleston County for Fiscal Years 2010-2011 and 2011-2012, in the event of a shortfall in school operating funds, may expend funds generated from a general obligation debt bond issue for school operating purposes, if permitted by the federal law applicable to the particular types of bonds issued and if it does not violate any provisions of the bond indenture applicable to the issuance and sale of those bonds.

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

----XX----

This web page was last updated on April 22, 2010 at 5:46 PM