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COMMITTEE REPORT
April 11, 2002
S. 868
S. Printed 4/11/02--H.
Read the first time January 29, 2002.
To whom was referred a Bill (S. 868) to amend the Code of Laws of South Carolina, 1976, by adding Section 59-133-60 so as to authorize the Board of Trustees of Francis Marion University to enter into ground lease agreements, etc., respectfully
That they have duly and carefully considered the same and recommend that the same do pass:
ROBERT W. HARRELL, JR. for Committee.
EXPLANATION OF IMPACT:
Francis Marion University
Francis Marion University has indicated that the university nor the General Fund of the State would incur any additional cost as a result of passage of this bill. The leasee would bear all the financial cost of constructing, managing, operating and maintaining the on-campus student housing. There would be no impact on federal and/or other funds.
The Commission on Higher Education
The commission's evaluation of the Ground Lease Agreement and subsequent report to the General Assembly is not required until FY 2004-2005. The commission has indicated that passage of this bill would have no impact on the General Fund of the State nor on federal and/or other funds.
State Budget and Control Board
The agency has been forwarded a copy of the bill and their response is pending.
Approved By:
Don Addy
Office of State Budget
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 59-133-60 SO AS TO AUTHORIZE THE BOARD OF TRUSTEES OF FRANCIS MARION UNIVERSITY TO ENTER INTO GROUND LEASE AGREEMENTS WITH PRIVATE ENTITIES FOR PROVIDING ALL SERVICES NECESSARY TO THE CREATION AND OPERATION OF CERTAIN CAMPUS STUDENT HOUSING FACILITIES INCLUDING, BUT NOT LIMITED TO, FINANCING, DESIGNING, CONSTRUCTING, MANAGING, OPERATING, MAINTAINING, AND RELATED SERVICES, TO PROVIDE FOR THE TERMS AND CONDITIONS OF THE GROUND LEASE AGREEMENTS INCLUDING APPROVAL BY THE BUDGET AND CONTROL BOARD.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The 1976 Code is amended by adding:
"Section 59-133-60. The Board of Trustees of Francis Marion University with the approval of the Budget and Control Board may enter into one or more ground lease agreements with a private entity whereby the private entity will provide all services necessary for the creation and operation of an on-campus student housing facility including, but not limited to, financing, designing, constructing, managing, operating, maintaining, and related services. Upon expiration of the ground lease agreement term, the private entity shall surrender unto Francis Marion University, such premises with the existing buildings, other structures and improvements constructed and located thereon and therein, in the same condition as when the construction of the buildings, other structures, and improvements were completed, only natural and normal wear and tear excepted. The Budget and Control Board must first approve all ground lease agreement terms and conditions including the consideration involved, and the full faith and credit of the State toward the lease obligations must not be pledged, and any statement to the contrary is deemed null and void as a matter of public policy. The private entity may be a nonprofit organization. The Budget and Control Board approval required shall be in lieu of or a substitute for any other approval required by any other provision of law or regulation in connection with the undertaking of the private entity and Francis Marion University; however, the private entity and Francis Marion University shall adhere to fire, life, and safety codes as required by the Office of the State Engineer."
SECTION 2. This act takes effect upon approval by the Governor.
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