Reference is to the bill as introduced.
Amend the bill, as and if amended, by striking SECTION 1 and inserting:
/ SECTION 1. Section 41-43-100 of the 1976 Code is amended to read:
"Section 41-43-100.
In addition to other powers vested in the authority by
existing laws, the authority has all powers granted the counties
and municipalities of this State pursuant to the provisions of
Chapter 29, Title 4, including the issuance of bonds by the
authority and the refunding of bonds issued under that chapter.
The authority may issue bonds upon receipt of a
certified resolution by the county or municipality in which the
project, as defined in Chapter 29, Title 4, is or will be
located, containing the findings pursuant to Section 4-29-60 and
evidence of a public hearing held not less than fifteen days
after publication of notice in a newspaper of general
circulation in the county pursuant to this section
after a public hearing is held as required by federal law to
enable interest on such bonds to be excluded from gross income
for federal tax purposes. Notice of any required public hearing
must be provided to the public and to the clerk of the county
council or clerk of the municipal council in the county or
municipality in which the project is or will be located
at the times and in the manner permitted or required by
federal tax law. Additionally, a copy of the public hearing
notice must be published by the authority in a newspaper of
general circulation in the county in which the project is
located before the date of the public hearing, if such public
hearing is required by federal law; provided however, the notice
posted by the authority as required by federal law shall control
for the purpose of compliance with any federal law and not the
notice published in the newspaper where the project is
located. The authority may combine for the purposes of a
single offering bonds to finance more than one project. The
interest rate of bonds issued pursuant to this section is not
subject to approval by the South Carolina Coordinating Council
for Economic Development."
/
Renumber sections to conform.
Amend title to conform.