S*1549(Rat #0547, Act #0591 of 1992)  General Bill, By A.E. Carmichael
 A Bill to authorize the Dillon County Board of Education to borrow an amount
 not to exceed four hundred eighty thousand dollars to be used for school
 construction in Dillon County School District 3, to provide for the repayment
 of the loan, and to provide that the Auditor of Dillon County shall levy a tax
 for school purposes for fiscal year 1992-93.-amended title

   05/13/92  Senate Intd. & placed on local & uncontested cal. w/o
                     reference SJ-5
   05/20/92  Senate Read second time SJ-43
   05/21/92  Senate Read third time and sent to House SJ-24
   05/26/92  House  Introduced, read first time, placed on calendar
                     without reference HJ-35
   05/27/92  House  Read second time HJ-15
   05/28/92  House  Amended HJ-42
   05/28/92  House  Read third time and returned to Senate with
                     amendments HJ-42
   05/28/92  Senate Concurred in House amendment and enrolled SJ-10
   06/04/92         Ratified R 547
   06/15/92         Signed By Governor
   06/15/92         Effective date 06/15/92
   06/15/92         Act No. 591
   07/09/92         Copies available

AN ACT TO AUTHORIZE THE DILLON COUNTY BOARD OF EDUCATION TO BORROW AN AMOUNT NOT TO EXCEED FOUR HUNDRED EIGHTY THOUSAND DOLLARS TO BE USED FOR SCHOOL CONSTRUCTION IN DILLON COUNTY SCHOOL DISTRICT 3, TO PROVIDE FOR THE REPAYMENT OF THE LOAN, AND TO PROVIDE THAT THE AUDITOR OF DILLON COUNTY SHALL LEVY A TAX FOR SCHOOL PURPOSES FOR FISCAL YEAR 1992-93.

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

Board may borrow

SECTION 1. (A) The Dillon County Board of Education may borrow an amount not exceeding four hundred eighty thousand dollars from any bank or other lending agency at the lowest interest rate available to retire a loan for money used for school construction for Dillon County School District 3. The amount borrowed must be evidenced by a note to be executed by the chairman of the board and the county treasurer. The note shall bear such interest as may be agreed upon to be paid at such times as may be agreed upon with the right to anticipate payment at any time before maturity.

(B) The repayment of the note must be as provided by agreement between the parties.

Auditor to levy tax

SECTION 2. The auditor of Dillon County shall levy one hundred seven and one-half mills on all taxable property of the county for fiscal year 1992-93 for school purposes in Dillon County as follows: operation of schools, 84.5 mills; school debt retirement, 5 mills; teachers' sick leave, 3 mills; Dillon County Vocational School, 14.5 mills; and vocational school special fund, .5 mills.

Time effective

SECTION 3. This act takes effect upon approval by the Governor.

In the Senate House June 4, 1992.

Nick A. Theodore,

President of the Senate

Robert J. Sheheen,

Speaker of the House of

Representatives

Approved the 15th day of June, 1992.

Carroll A. Campbell, Jr.

Governor

Printer's Date -- July 2, 1992 -- L.