S 817 Session 109 (1991-1992)
S 0817 General Bill, By Bryan
A Bill to amend the Code of Laws of South Carolina, 1976, by adding Section
44-9-170 so as to authorize the South Carolina Department of Mental Health to
apply to the State Budget and Control Board for funds from State Capital
Improvement Bonds, to provide the terms and conditions of the Department's
capital bond improvement obligations, to require bonds issued for these
improvements to be repaid from the revenues derived from paying patients of
the Department, and to provide for terms and conditions of repayment; and to
repeal Section 3, Part II of Act 151 of 1983 relating to similar provisions.
03/27/91 Senate Introduced and read first time SJ-4
03/27/91 Senate Referred to Committee on Finance SJ-4
A BILL
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976,
BY ADDING SECTION 44-9-170 SO AS TO AUTHORIZE THE
SOUTH CAROLINA DEPARTMENT OF MENTAL HEALTH TO
APPLY TO THE STATE BUDGET AND CONTROL BOARD FOR
FUNDS FROM STATE CAPITAL IMPROVEMENT BONDS, TO
PROVIDE THE TERMS AND CONDITIONS OF THE
DEPARTMENT'S CAPITAL BOND IMPROVEMENT
OBLIGATIONS, TO REQUIRE BONDS ISSUED FOR THESE
IMPROVEMENTS TO BE REPAID FROM THE REVENUES
DERIVED FROM PAYING PATIENTS OF THE DEPARTMENT,
AND TO PROVIDE FOR TERMS AND CONDITIONS OF
REPAYMENT; AND TO REPEAL SECTION 3, PART II OF ACT 151
OF 1983 RELATING TO SIMILAR PROVISIONS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The 1976 Code is amended by adding:
"Section 44-9-170. (A) As used in this section, unless the
context clearly indicates otherwise:
(1) `Commission' means the South Carolina Mental Health
Commission.
(2) `Department' means the South Carolina Department of
Mental Health.
(3) `Improvements' means the construction and reconstruction
of buildings and other permanent improvements for institutions or
agencies under the jurisdiction of the commission, including equipment,
planning, surveying, and the cost of acquiring and improving land.
(4) `Institution' means an institution or other facility which at
any time is under the jurisdiction of the commission.
(5) `Obligations' means the obligations in the form of notes or
bonds or contractual agreements issued or entered into by the
commission pursuant to this section and Act 1377 of 1968 to provide
funds with which to repay the proceeds of capital improvement bonds
allocated by the State Budget and Control Board to the commission.
(6) `Revenues' means revenue derived from paying patients at
all institutions or facilities which are under the jurisdiction of the
commission.
(7) `State capital improvement bonds' means bonds issued
pursuant to Act 1377 of 1968.
(B) The commission may raise monies for the construction of
improvements under the terms and conditions of this section.
(C) The aggregate of the outstanding principal amounts of state
capital improvement bonds issued for the commission may not exceed
thirty million dollars.
(D) If the commission determines that improvements are required
for an institution under its jurisdiction, it may apply to the State Budget
and Control Board for these improvements. The application must
contain:
(1) a description of the improvements sought and their
estimated cost;
(2) the number of paying patients at all of the department's
institutions, the amount of fees received from patients during the
preceding fiscal year, and the estimated amount to be received from
patients during the next succeeding year;
(3) the revenues derived from paying patients during the
preceding three fiscal years;
(4) a suggested maturity schedule, which may not exceed
twenty years, for the repayment of monies to be made available to the
commission from state capital improvement bonds;
(5) a statement showing the debt service requirements of other
outstanding obligations.
(E) The State Budget and Control Board may approve, in whole
or in part, or may modify an application received from the commission.
If it finds that a need for the improvements sought by the commission
exists, it may contract to make available to the commission funds to be
realized from the sale of state capital improvement bonds if it finds that
the revenues for the preceding fiscal year, when multiplied by the
number of years, which may not exceed twenty, contemplated by the
suggested or revised maturity schedule for the repayment of the monies
to be made available to the commission, result in the production of a
sum equal to not less than one hundred twenty-five percent of the
aggregate principal and interest requirement of all outstanding
obligations and all obligations to be incurred by the commission.
(F) Upon receiving the approval of the State Budget and Control
Board, the commission shall obligate itself to apply all monies derived
from its revenues to the payment of the principal and interest of its
outstanding obligations and those to be issued and to deliver to the board
its obligations.
(G) Following the execution and delivery of its obligations, the
commission shall remit to the State Treasurer all its revenues for credit
to a special fund. The special fund must be applied to meet the sums
due by the commission under its obligations. These monies from the
special fund must be applied by the State Treasurer to the payment of the
principal of and interest on outstanding state capital improvement
bonds."
SECTION 2. Section 3, Part II of Act 151 of 1983 is repealed.
SECTION 3. This act takes effect upon approval by the Governor.
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