S 0948 Joint Resolution, By Thomas
 A JOINT RESOLUTION PROPOSING AN AMENDMENT TO SECTIONS 14 AND 15, ARTICLE X OF
 THE CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO THE AUTHORITY OF
 POLITICAL SUBDIVISIONS OF THE STATE AND SCHOOL DISTRICTS TO INCUR GENERAL
 OBLIGATION DEBT, SO AS TO PROVIDE THAT IN A YEAR OF IMPLEMENTATION OF THE NEW
 VALUES OF A COUNTYWIDE REASSESSMENT PROGRAM, A POLITICAL SUBDIVISION AND A
 SCHOOL DISTRICT MAY NOT INCUR NEW GENERAL OBLIGATION DEBT EXCEPT FOR TAX
 ANTICIPATION NOTES.

   01/30/02  Senate Introduced and read first time SJ-2
   01/30/02  Senate Referred to Committee on Judiciary SJ-2

PROPOSING AN AMENDMENT TO SECTIONS 14 AND 15, ARTICLE X OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO THE AUTHORITY OF POLITICAL SUBDIVISIONS OF THE STATE AND SCHOOL DISTRICTS TO INCUR GENERAL OBLIGATION DEBT, SO AS TO PROVIDE THAT IN A YEAR OF IMPLEMENTATION OF THE NEW VALUES OF A COUNTYWIDE REASSESSMENT PROGRAM, A POLITICAL SUBDIVISION AND A SCHOOL DISTRICT MAY NOT INCUR NEW GENERAL OBLIGATION DEBT EXCEPT FOR TAX ANTICIPATION NOTES.

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

SECTION    1.    It is proposed that Section 14, Article X of the Constitution of this State be amended by adding a new subsection at the end to read:

    "(11)    Notwithstanding any other provision of this section, in a year of implementation of the new values of a countywide reassessment program, a political subdivision of this State may not incur new general obligation debt except tax anticipation notes."

SECTION    2.    The proposed amendment must be submitted to the qualified electors at the next general election for representatives. Ballots must be provided at the various voting precincts with the following words printed or written on the ballot:

    "Must Section 14, Article X of the Constitution of this State relating to the authority of a political subdivision to issue general obligation debt be amended so as to provide that in the year of implementation of the new values of a countywide reassessment program, a political subdivision of this State may not incur new general obligation debt except tax anticipation notes?

Those voting in favor of the question shall deposit a ballot with a check or cross mark in the square after the word 'Yes', and those voting against the question shall deposit a ballot with a check or cross mark in the square after the word 'No'."

SECTION    3.    It is proposed that Section 15, Article X of the Constitution of this State be amended by adding a new subsection at the end to read:

    "(9)    Notwithstanding any other provision of this section, in a year of implementation of the new values of a countywide reassessment program, a school district may not incur new general obligation debt except tax anticipation notes."

SECTION    4.    The proposed amendment must be submitted to the qualified electors at the next general election for representatives. Ballots must be provided at the various voting precincts with the following words printed or written on the ballot:

    "Must Section 15, Article X of the Constitution of this State relating to the authority of school districts to issue general obligation debt be amended so as to provide that in the year of implementation of the new values of a countywide reassessment program, a school district may not incur new general obligation debt except tax anticipation notes?

Those voting in favor of the question shall deposit a ballot with a check or cross mark in the square after the word 'Yes', and those voting against the question shall deposit a ballot with a check or cross mark in the square after the word 'No'."