South Carolina General Assembly
116th Session, 2005-2006

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Bill 3914


Indicates Matter Stricken
Indicates New Matter


(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND SECTION 6-11-1230, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE POWERS OF A COMMISSION OF A SPECIAL PURPOSE OR PUBLIC SERVICE DISTRICT, SO AS TO DELETE THE REQUIREMENT THAT MONIES REALIZED FROM FRONT-FOOT ASSESSMENTS, WHICH ARE LEVIED TO REIMBURSE A DISTRICT FOR THE COST OF INSTALLING SEWER LINES, MUST BE DEPOSITED IN A BANK LOCATED WITHIN THE COUNTY IN WHICH THE DISTRICT IS LOCATED.

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

SECTION    1.    Item (j) of the third paragraph of Section 6-11-1230 of the 1976 Code is amended to read:

"(j)    All moneys monies realized from front-foot assessments shall must be kept in a separate and distinct fund either on deposit with the county treasurer or, in the discretion of the commission, in a bank located within the county in which the district is located and used: first to defray the cost to the extent prescribed by the commission in the resolution providing for such the front-foot assessments of the establishment and construction of the sewage lateral collection lines in connection with which the front-foot assessments were levied,; or second to provide debt service on bonds issued by the district to defray the costs of such the construction; and for no other purpose. In the event If a district issues bond bonds and uses only a portion of the proceeds thereof of them to defray all or a part of the cost of constructing sewer lateral collection lines, moneys monies derived from the front-foot assessments shall must be used to provide debt service to the extent prescribed in the resolutions providing for the imposition of the front-foot assessments and authorizing the issuance of the bonds. Nothing contained in this article shall may be construed to authorize any borrowing by a district."

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

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