Current Status Bill Number:
4535Ratification Number: 255Act Number: 510Type of Legislation: General Bill GBIntroducing Body: HouseIntroduced Date: 19960201Primary Sponsor: KinonAll Sponsors: Kinon, Jennings and M. HinesDrafted Document Number: pt\2204jm.96Date Bill Passed both Bodies: 19960222Governor's Action: U Became law without signature of GovernorDate of Governor's Action: 19960305Subject: 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 referenceView additional legislative information at the LPITS web site.
(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."
SECTION 2. This act takes effect upon approval by the Governor.
Became law without the signature of the Governor -- 3/5/96.