Current Status Introducing Body:Senate Bill Number:817 Primary Sponsor:Bryan Committee Number:06 Type of Legislation:GB Subject:Mental health, capital improvement bonds Residing Body:Senate Computer Document Number:BR1/1291.AC Introduced Date:Mar 27, 1991 Last History Body:Senate Last History Date:Mar 27, 1991 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:Bryan Type of Legislation:General Bill
Bill Body Date Action Description CMN
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817 Senate Mar 27, 1991 Introduced, read first time, 06
referred to Committee
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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 44-9-170 SO AS TO AUTHORIZE THE SOUTH CAROLINA DEPARTMENT OF MENTAL HEALTH TO APPLY TO THE STATE BUDGET AND CONTROL BOARD FOR FUNDS FROM STATE CAPITAL IMPROVEMENT BONDS, TO PROVIDE THE TERMS AND CONDITIONS OF THE DEPARTMENT'S CAPITAL BOND IMPROVEMENT OBLIGATIONS, TO REQUIRE BONDS ISSUED FOR THESE IMPROVEMENTS TO BE REPAID FROM THE REVENUES DERIVED FROM PAYING PATIENTS OF THE DEPARTMENT, AND TO PROVIDE FOR TERMS AND CONDITIONS OF REPAYMENT; AND TO REPEAL SECTION 3, PART II OF ACT 151 OF 1983 RELATING TO SIMILAR PROVISIONS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The 1976 Code is amended by adding:
"Section 44-9-170. (A) As used in this section, unless the context clearly indicates otherwise:
(1) `Commission' means the South Carolina Mental Health Commission.
(2) `Department' means the South Carolina Department of Mental Health.
(3) `Improvements' means the construction and reconstruction of buildings and other permanent improvements for institutions or agencies under the jurisdiction of the commission, including equipment, planning, surveying, and the cost of acquiring and improving land.
(4) `Institution' means an institution or other facility which at any time is under the jurisdiction of the commission.
(5) `Obligations' means the obligations in the form of notes or bonds or contractual agreements issued or entered into by the commission pursuant to this section and Act 1377 of 1968 to provide funds with which to repay the proceeds of capital improvement bonds allocated by the State Budget and Control Board to the commission.
(6) `Revenues' means revenue derived from paying patients at all institutions or facilities which are under the jurisdiction of the commission.
(7) `State capital improvement bonds' means bonds issued pursuant to Act 1377 of 1968.
(B) The commission may raise monies for the construction of improvements under the terms and conditions of this section.
(C) The aggregate of the outstanding principal amounts of state capital improvement bonds issued for the commission may not exceed thirty million dollars.
(D) If the commission determines that improvements are required for an institution under its jurisdiction, it may apply to the State Budget and Control Board for these improvements. The application must contain:
(1) a description of the improvements sought and their estimated cost;
(2) the number of paying patients at all of the department's institutions, the amount of fees received from patients during the preceding fiscal year, and the estimated amount to be received from patients during the next succeeding year;
(3) the revenues derived from paying patients during the preceding three fiscal years;
(4) a suggested maturity schedule, which may not exceed twenty years, for the repayment of monies to be made available to the commission from state capital improvement bonds;
(5) a statement showing the debt service requirements of other outstanding obligations.
(E) The State Budget and Control Board may approve, in whole or in part, or may modify an application received from the commission. If it finds that a need for the improvements sought by the commission exists, it may contract to make available to the commission funds to be realized from the sale of state capital improvement bonds if it finds that the revenues for the preceding fiscal year, when multiplied by the number of years, which may not exceed twenty, contemplated by the suggested or revised maturity schedule for the repayment of the monies to be made available to the commission, result in the production of a sum equal to not less than one hundred twenty-five percent of the aggregate principal and interest requirement of all outstanding obligations and all obligations to be incurred by the commission.
(F) Upon receiving the approval of the State Budget and Control Board, the commission shall obligate itself to apply all monies derived from its revenues to the payment of the principal and interest of its outstanding obligations and those to be issued and to deliver to the board its obligations.
(G) Following the execution and delivery of its obligations, the commission shall remit to the State Treasurer all its revenues for credit to a special fund. The special fund must be applied to meet the sums due by the commission under its obligations. These monies from the special fund must be applied by the State Treasurer to the payment of the principal of and interest on outstanding state capital improvement bonds."
SECTION 2. Section 3, Part II of Act 151 of 1983 is repealed.
SECTION 3. This act takes effect upon approval by the Governor.