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Indicates Matter Stricken
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S. 1278
STATUS INFORMATION
General Bill
Sponsors: Senator Branton
Document Path: l:\council\bills\bbm\10389sj04.doc
Introduced in the Senate on May 26, 2004
Introduced in the House on June 1, 2004
Currently residing in the House
Summary: Dorchester County, School District No. 2 Board, bonds
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 5/26/2004 Senate Intd. & placed on local & uncontested cal. w/o reference SJ-8 5/27/2004 Scrivener's error corrected SJ-280 5/27/2004 Senate Read second time SJ-280 5/27/2004 Senate Unanimous consent for third reading on next legislative day SJ-280 5/28/2004 Senate Read third time and sent to House SJ-2 6/1/2004 House Introduced and read first time HJ-25 6/1/2004 House Referred to Dorchester Delegation HJ-25 6/3/2004 House Recalled from Dorchester Delegation HJ-56
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
5/26/2004
5/26/2004-A
5/27/2004
Indicates Matter Stricken
Indicates New Matter
INTRODUCED
May 26, 2004
S. 1278
L. Printed 5/26/04--S. [SEC 5/27/04 3:55 PM]
Read the first time May 26, 2004.
TO AMEND ACT 327 OF 1977, RELATING TO THE ABILITY OF SCHOOL DISTRICT NO. 2 OF DORCHESTER COUNTY TO ISSUE BONDS, SO AS TO PROVIDE THAT, BEFORE ISSUING BONDS, THE TOTAL FULL TERM UNPAID BALANCE REMAINING ON ANY INDEBTEDNESS THAT A SCHOOL DISTRICT IS OBLIGATED TO PAY OVER ANY PERIOD MUST BE INCLUDED IN ITS GENERAL OBLIGATION DEBT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 2 of Act 327 of 1977 is amended to read:
"Section 2. For the purpose of providing appropriate sites and constructing and equipping additional public school facilities in the school district, the trustees are hereby authorized and empowered to issue, without an election, general obligation bonds of the school district, either as a single issue, or from time to time as several separate issues, in the aggregate principal amount of not exceeding two million dollars, or in such lesser amount as shall, on the occasion of the issuance of any bonds pursuant to the authorization of this act, be within the constitutional debt limitation then applicable to the school district. Before issuing bonds pursuant to this section, the total full term unpaid balance remaining on any indebtedness that the school district is obligated to pay over any period must be included in its general obligation debt that is limited to eight percent of the assessed value of all taxable property located in its district pursuant to Article X, Section 15, subsection 6 of the Constitution of South Carolina, 1895."
SECTION 2. This act takes effect upon approval by the Governor.
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