H*3446 Session 104 (1981-1982)
H*3446(Rat #0302, Act #0557 of 1982) General Bill, By J.I. Rogers
A Bill to provide that bond anticipation notes issued by the School District
of Marlboro County shall be valid obligations of the District, to provide for
the levy and collection of a tax on all taxable property in the District
sufficient to pay the interest on such bond anticipation notes and also to pay
the principal and interest on the general obligation bonds of the district,
and to authorize the issuance of general obligation bonds of the District up
to its Constitutional debt limit for general school purposes and for the
retirement of bond anticipation notes.-at
01/21/82 House Introduced, read first time, placed on calendar
without reference HJ-308
01/26/82 House Read second time HJ-343
01/27/82 House Read third time and sent to Senate HJ-376
01/27/82 Senate Intd. & placed on loc. & uncontested cal. w/o
reference SJ-13
02/02/82 Senate Read second time SJ-7
02/16/82 Senate Amended SJ-11
02/16/82 Senate Read third time SJ-11
02/16/82 Senate Returned SJ-11
02/16/82 House Concurred in Senate amendment and enrolled HJ-869
02/18/82 House Ratified R 302 HJ-956
02/24/82 Signed By Governor
02/24/82 Effective date 02/24/82
02/24/82 Act No. 557
03/05/82 Copies available
(A557, R302, H3446)
AN ACT TO PROVIDE THAT BOND ANTICIPATION NOTES ISSUED BY THE SCHOOL DISTRICT
OF MARLBORO COUNTY SHALL BE VALID OBLIGATIONS OF THE DISTRICT, TO PROVIDE FOR THE
LEVY AND COLLECTION OF A TAX ON ALL TAXABLE PROPERTY IN THE DISTRICT SUFFICIENT
TO PAY THE INTEREST ON SUCH BOND ANTICIPATION NOTES AND ALSO TO PAY THE PRINCIPAL
AND INTEREST ON THE GENERAL OBLIGATION BONDS OF THE DISTRICT, AND TO AUTHORIZE
THE ISSUANCE OF GENERAL OBLIGATION BONDS OF THE DISTRICT UP TO ITS CONSTITUTIONAL
DEBT LIMIT FOR GENERAL SCHOOL PURPOSES AND FOR THE RETIREMENT OF BOND
ANTICIPATION NOTES.
Be it enacted by the General Assembly of the State of South Carolina:
Bond anticipation notes
Section 1. (A) All bond anticipation notes which have been issued pursuant to
law prior to the effective date of this act by the Marlboro County Board of
Education are hereby validated and confirmed as being lawful obligations of the
School District of Marlboro County.
(B) There shall be levied annually by the auditor of Marlboro County and
collected by the treasurer of the county, in the same manner as county taxes, an
ad valorem tax without limitation on all taxable property in the school district
sufficient to pay the interest on these bond anticipation notes as this interest
may become due until such time as the bond anticipation notes are retired
pursuant to the issuance of general obligation bonds of the district or through
other means.
(C) The Marlboro County Board of Education as the governing body of the School
District of Marlboro County notwithstanding the fact that the board members on
the effective date of this act are appointed is further empowered to issue
without an election in the manner provided by law general obligation bonds of the
district, up to the constitutional debt limit applicable to the district, for
general school purposes and for the retirement of the bond anticipation notes of
the district.
(D) There also shall be levied annually by the auditor of Marlboro County and
collected by the treasurer of the county, in the same manner as county taxes, an
ad valorem tax without limitation on all taxable property in the school district
sufficient to pay the principal and interest on any general obligation bonds of
the district issued pursuant to and as authorized by the provisions of this act.
Time effective
Section 2. This act shall take effect upon the approval by the Governor. |