S 1060 General Bill, By Grooms, Moore, Anderson, Drummond, Elliott, Ford, 
Glover, Holland, Hutto, Jackson, Land, Leventis, Matthews, McGill, O'Dell, 
Patterson, Pinckney, Rankin, Reese, Saleeby, Setzler and Short
 A BILL TO AMEND ACT 1377 OF 1968, AS AMENDED, RELATING TO THE ISSUANCE OF
 STATE CAPITAL IMPROVEMENT BONDS, SO AS TO AUTHORIZE BONDS FOR THE SOUTH
 CAROLINA DEPARTMENT OF MENTAL HEALTH FOR THE CONSTRUCTION OF A VETERANS
 NURSING HOME LOCATED IN COLLETON COUNTY AND TO CONFORM THE AGGREGATE PRINCIPAL
 INDEBTEDNESS AMOUNT OF THESE BONDS TO THE ADDITIONAL AMOUNT AUTHORIZED IN THIS
 ACT.

   02/27/02  Senate Introduced and read first time SJ-6
   02/27/02  Senate Referred to Committee on Finance SJ-6

TO AMEND ACT 1377 OF 1968, AS AMENDED, RELATING TO THE ISSUANCE OF STATE CAPITAL IMPROVEMENT BONDS, SO AS TO AUTHORIZE BONDS FOR THE SOUTH CAROLINA DEPARTMENT OF MENTAL HEALTH FOR THE CONSTRUCTION OF A VETERANS NURSING HOME LOCATED IN COLLETON COUNTY AND TO CONFORM THE AGGREGATE PRINCIPAL INDEBTEDNESS AMOUNT OF THESE BONDS TO THE ADDITIONAL AMOUNT AUTHORIZED IN THIS ACT.

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

SECTION 1. A. Item (f) of Section 3 of Act 1377 of 1968, as last amended by Act 1 of 2001, is further amended by adding:

"Department of Mental Health-

Veterans Nursing Home located

in Colleton County $2,800,000

Total $2,800,000"

B. Section 4 of Act 1377 of 1968, as last amended by Part II, Section 1 of Act 1 of 2001, is further amended to read:

"Section 4. The aggregate principal indebtedness on account of bonds issued pursuant to this act may not exceed $2,583,904,475 $2,586,704,475. The limitation imposed by the provisions of this section does not apply to bonds issued on behalf of the Mental Health Commission as provided in Acts 1276 and 1272 of 1970 or to bonds issued on behalf of the Commission on Mental Retardation as provided in Act 1087 of 1970 or to bonds issued on behalf of the South Carolina Fire Academy. The limitation imposed by the provisions of this section is not considered to be an obligation of the contract made between the State and holders of bonds issued pursuant to this act, and the limitation imposed by the provisions of this section may be enlarged by acts amending it or reduced by the application of the Capital Reserve Fund or by amendments of this act. Within these limitations state capital improvement bonds may be issued under the conditions prescribed by this act."

SECTION 2. This act takes effect upon approval by the Governor.