Bill 2680

                    Current Status

Bill Number:               2680
Ratification Number:       755
Act Number                 685
Introducing Body:          House
Subject:                   Relating to the Clark's Hill-Russell
                           Authority

(A685, R755, H2680)

AN ACT TO AMEND SECTION 13-9-10, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE CLARK'S HILL-RUSSELL AUTHORITY, SO AS TO CHANGE THE NAME TO THE SAVANNAH VALLEY AUTHORITY; TO AMEND SECTION 13-9-30, RELATING TO THE POWERS AND DUTIES OF THE BOARD AND THE AUTHORITY, SO AS TO FURTHER PROVIDE FOR THESE POWERS AND DUTIES; AND TO AMEND THE 1976 CODE BY ADDING SECTION 13-9-35 SO AS TO PROVIDE FOR THE MANNER IN WHICH THE POWERS AND DUTIES OF THE AUTHORITY MAY BE EXERCISED.

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

Name changed

SECTION 1. Section 13-9-10 of the 1976 Code is amended to read:

"Section 13-9-10. There is created the Savannah Valley Authority of South Carolina, referred to in this chapter as the 'authority'. The governing body of the authority consists of an eight-member board appointed by the Governor for terms of four years and until successors are appointed and qualify.

At least two of the appointed members must be residents of McCormick County recommended by the legislative delegation of that county.

At least two of the appointed members must be residents of Abbeville County recommended by the legislative delegation of that county.

At least one of the appointed members must be a resident of Anderson County recommended by the legislative delegation of that county.

Vacancies on the board for any reason must be filled for the unexpired term in the manner of original appointment. Members may be removed by the Governor for cause or at will."

Rights and powers of board

SECTION 2. Section 13-9-30 of the 1976 Code is amended to read:

"Section 13-9-30. The board of the authority shall have all the rights and powers of a public body politic and corporate of this State, including without limitation, all the rights and powers necessary or convenient to manage the business and affairs of the authority and to take action as it may consider advisable, necessary, or convenient in carrying out its powers, including, but not limited to, the following rights and powers to:

(a) have perpetual succession;

(b) sue and be sued;

(c) adopt, use, and alter a seal;

(d) make and amend bylaws for regulation of its affairs consistent with the provisions of this chapter;

(e) acquire, purchase, hold, use, improve, lease, mortgage, pledge, sell, transfer, and dispose of any property, real, personal, or mixed, or any interest in any property, or revenues of the authority as security for notes, bonds, evidences of indebtedness, or other obligations of the authority. The authority has no power to pledge the credit and the taxing power of the State or any of its political subdivisions;

(f) receive contributions, donations, and payments and to invest and disperse the authority's funds;

(g) make inquiry into the status of, and plans for, the development of the Clark's Hill-Russell project and the Richard B. Russell project by the United States Government, by the State of Georgia, or by any other agency or instrumentality;

(h) encourage, assist, promote, and cooperate

in the development of the Savannah River and the streams, canals, or watercourses now or at a later time connected to or flowing into the river and to appear on behalf of the State before any agency, department, or commission of this State, of the United States, or of any other state in furtherance of the development or of any matter connected with the development or related to the development;

(i) negotiate agreements, accords, or compacts on behalf of and in the name of the State with the State of Georgia or the United States, or both, with any agency, department, or commission of either or both, or with any other state or any agency, department, or commission of the other state, relating to the development of the Savannah River and the development of the streams, canals, or watercourses now or at a later time connected to or flowing into the river, and particularly in reference to joint or concurrent action in the furtherance of agreements, accords, or contracts. Interstate compacts made by the authority are subject to approval by concurrent resolution of the General Assembly;

(j) act as the designated agency of the State to receive, purchase, hold title to, and to manage any real property in the Clark's Hill Reservoir project area, in the Richard B. Russell Reservoir project area, and of the Savannah River basin, including its tributaries, streams, canals, and watercourses now or at a later time connected to or flowing into the river, in the State acquired by release of surplus real property, by purchase, by lease, or by exchange and to develop and promote the development of the land for recreational, transportation, residential, commercial, and industrial purposes, both public and private, and to lease, sublease, or convey title in fee simple to the real property subject to approval by the State Budget and Control Board. The authority may retain, carry forward, and expend any proceeds derived from the sale, lease, rental, or other use of real and personal property under the authority's exclusive jurisdiction. The proceeds may only be used in the development and the promotion of the authority as provided by this chapter and for the purposes authorized by this chapter;

(k) promulgate regulations affecting the use, management, and control of real property acquired pursuant to item (j) of this section;

(l) borrow money, make and issue notes, bonds, and other evidences of indebtedness, including refunding and advanced refunding notes and bonds, of the authority; to secure the payment of the obligations or any part by mortgage, lien, pledge, or deed of trust on any of its property, contracts, franchises, or revenues, including the proceeds of any refunding and advanced refunding notes, bonds, and other evidences of indebtedness and the investments in which proceeds are invested and the earnings on and income from the investments; to invest its monies, including without limitation its revenues and proceeds of the notes, bonds, or other evidences of indebtedness, in obligations of, or obligations the principal of and interest on which are guaranteed by or are fully secured by contracts with, the United States, in obligations of any agency, instrumentality, or corporation which has been or may at a later time be created by or pursuant to an act of the United States Congress as an agency, instrumentality, or corporation, in direct and general obligations of this State, and in certificates of deposit issued by any bank, trust company, or national banking association; to make agreements with the purchasers or holders of the notes, bonds, or other evidences of indebtedness or with others in connection with any notes, bonds, or other evidences of indebtedness, whether issued or to be issued, as the authority considers advisable; and to provide for the security for the notes, bonds, or other evidences of indebtedness and

the rights of the holders of the notes, bonds, or other evidences of indebtedness. In the exercise of the powers granted in this section to issue advanced refunding notes, bonds, or other evidences of indebtedness the authority may, but is not required to, avail itself of or comply with any of the provisions of Chapter 21 of Title 11. The authority, when investing in certificates of deposit, shall invest in certificates of deposit issued by institutions authorized to do business in this State if the institutions offer terms which, in the opinion of the authority, are equal to or better than those offered by other institutions;

(m) loan the proceeds of notes, bonds, or other evidences of indebtedness to a person, corporation, or partnership to construct, acquire, improve, or expand the projects described in Section 13-9-40;

(n) make contracts, including service contracts with a person, corporation, or partnership, to provide the services provided in Section 13-9-40, and to execute all instruments necessary or convenient for the carrying out of business."

Exercise of powers

SECTION 3. Chapter 9, Title 13 of the 1976 Code is amended by adding:

"Section 13-9-35. Upon consent of a majority of the members of the House of Representatives representing the county and a majority of the Senators representing the county, the authority may exercise any of the powers and duties conveyed under the provisions of Section 13-9-30 in the entire area of any county or portion of any county which borders the Savannah River or is within the Savannah River Basin; provided, that this consent once given shall continue and may be removed only upon consent of a majority

of the members of the House of Representatives representing the county, upon consent of a majority of the Senators representing the county, and upon consent of a majority of the Savannah Valley Authority."

Time effective

SECTION 4. This act takes effect upon approval by the Governor.