H 3024 Joint Resolution, By Kirsh
 A Joint Resolution proposing an amendment to Article X, Section 14,
 Constitution of South Carolina, 1895, relating to the bonded indebtedness of
 political subdivisions, so as to increase the general obligation debt limit
 from eight to twelve percent of the assessed value of all taxable property of
 political subdivisions.

   12/12/90  House  Prefiled
   12/12/90  House  Referred to Committee on Ways and Means
   01/08/91  House  Introduced and read first time HJ-44
   01/08/91  House  Referred to Committee on Ways and Means HJ-44

A JOINT RESOLUTION

PROPOSING AN AMENDMENT TO ARTICLE X, SECTION 14, CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO THE BONDED INDEBTEDNESS OF POLITICAL SUBDIVISIONS, SO AS TO INCREASE THE GENERAL OBLIGATION DEBT LIMIT FROM EIGHT TO TWELVE PERCENT OF THE ASSESSED VALUE OF ALL TAXABLE PROPERTY OF POLITICAL SUBDIVISIONS.

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

SECTION 1. It is proposed that Section 14(7)(a), Article X, of the Constitution of this State be amended to read:

"(a) For any of its corporate purposes in an amount not exceeding eight twelve percent of the assessed value of all taxable property of such the political subdivision; or".

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(7)(a), Article X of the Constitution of this State be amended so as to increase the general obligation debt limit from eight to twelve percent of the assessed value of all taxable property of a political subdivision?

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'."