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A182, R45, S320
Sponsors: Senator Leatherman
Document Path: l:\council\bills\ms\7110htc05.doc
Companion/Similar bill(s): 3401
Introduced in the Senate on January 25, 2005
Introduced in the House on March 2, 2005
Last Amended on February 24, 2005
Passed by the General Assembly on April 20, 2005
Governor's Action: May 3, 2005, Signed
Summary: USC athletic facilities bonds
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 1/25/2005 Senate Introduced and read first time SJ-11 1/25/2005 Senate Referred to Committee on Finance SJ-11 2/23/2005 Senate Committee report: Favorable with amendment Finance SJ-19 2/24/2005 Senate Amended SJ-16 2/24/2005 Senate Read second time SJ-16 3/1/2005 Senate Read third time and sent to House SJ-10 3/2/2005 House Introduced and read first time HJ-6 3/2/2005 House Referred to Committee on Ways and Means HJ-6 4/13/2005 House Committee report: Favorable Ways and Means HJ-9 4/19/2005 House Read second time HJ-67 4/19/2005 House Roll call Yeas-114 Nays-0 HJ-67 4/20/2005 House Read third time and enrolled HJ-33 4/28/2005 Ratified R 45 5/3/2005 Signed By Governor 5/5/2005 Copies available 5/5/2005 Effective date 05/03/05 7/20/2005 Act No. 182
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
(A182, R45, S320)
AN ACT TO AMEND ACT 518 OF 1980, AS AMENDED, RELATING TO THE UNIVERSITY OF SOUTH CAROLINA ATHLETIC FACILITIES REVENUE BONDS, SO AS TO RAISE THE OUTSTANDING DEBT LIMIT FOR THESE BONDS FROM FORTY MILLION TO SIXTY MILLION DOLLARS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. By Act 302 of 1996 and Act 6 of 1997, the General Assembly purported to amend Section 9C of Act 518 of 1980. The adopted amendments were intended to amend Section 9D of Act 518 of 1980, as evidenced by both the caption of the subsection and its content. Therefore, Act 302 of 1996 and Act 6 of 1997 are amended to correct the reference and change it to Section 9D of Act 518 of 1980 instead of Section 9C.
Additional bonds authorized
SECTION 2. Section 9D of Act 518 of 1980, as last amended by Act 6 of 1997, is further amended to read:
"D. May Issue Bonds.
Subject to obtaining the approval of the state board expressed by resolution duly adopted, the trustees are authorized to issue from time to time not exceeding sixty million dollars of bonds for the purpose of acquiring, constructing, reconstructing, renovating, or equipping athletic facilities and for the purpose of refunding any previous series of bonds authorized by this section. If the trustees, in authorizing the issuance of bonds pursuant to this section, prescribe by resolution that there must be on deposit in the Bond Reserve Fund certain sums at the time of the delivery of the bonds, the trustees are empowered to utilize a portion of the proceeds of any series of bonds issued pursuant to this section in order to meet the requirement."
SECTION 3. This act takes effect upon approval by the Governor.
Ratified the 28th day of April, 2005.
Approved the 3rd day of May, 2005.
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