Bill 4535

                    Current Status

Bill Number:                    4535
Ratification Number:            255
Act Number:                     510
Type of Legislation:            General Bill GB
Introducing Body:               House
Introduced Date:                19960201
Primary Sponsor:                Kinon
All Sponsors:                   Kinon, Jennings and M. Hines 
Drafted Document Number:        pt\2204jm.96
Date Bill Passed both Bodies:   19960222
Governor's Action:              U  Became law without signature of
                                Governor
Date of Governor's Action:      19960305
Subject:                        Dillon County school districts,
                                construction

Body    Date      Action Description                       Com     Leg Involved
______  ________  _______________________________________  _______ ____________

------  19960829  Act No. A510
------  19960305  Unsigned, became law without
                  signature of Governor
------  19960227  Ratified R255
Senate  19960222  Read third time, enrolled for
                  ratification
Senate  19960221  Read second time, unanimous consent
                  for third reading on Thursday,
                  19960222
Senate  19960208  Introduced, read first time,
                  placed on local and uncontested
                  Calendar without reference
House   19960207  Read third time, sent to Senate
House   19960206  Read second time
House   19960201  Introduced, read first time,
                  placed on Calendar without reference

(A510, R255, H4535)

AN ACT TO AMEND ACT 591 OF 1992, RELATING TO THE AUTHORIZATION FOR THE DILLON COUNTY BOARD OF EDUCATION TO BORROW A CERTAIN AMOUNT OF MONEY TO BE USED FOR SCHOOL CONSTRUCTION, SO AS TO, AMONG OTHER THINGS, CHANGE THE AMOUNT WHICH MAY BE BORROWED, AND PROVIDE THAT SUCH FUNDS MAY BE APPLIED TO RETIRE A LOAN FOR MONEY USED FOR SCHOOL CONSTRUCTION FOR DILLON COUNTY SCHOOL DISTRICTS 1, 2, AND 3, RATHER THAN SCHOOL DISTRICT 3 ALONE.

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

Amount increased for borrowing purposes; etc.

SECTION 1. Section 1 of Act 591 of 1992 is amended to read:

"Section 1. (A) The Dillon County Board of Education may borrow an amount not exceeding one million eight hundred and fifty thousand dollars from any bank or other lending agency at the lowest interest rate available to retire a loan for money used for school construction for Dillon County School Districts 1, 2, and 3. The amount borrowed must be evidenced by a note or notes to be executed by the chairman of the board and the county treasurer. The note or notes shall bear such interest as may be agreed upon to be paid at such times as may be agreed upon with the right to anticipate payment at any time before maturity.

(B) The repayment of the note or notes must be as provided by agreement between the parties."

Time effective

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

Became law without the signature of the Governor -- 3/5/96.