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Indicates Matter Stricken
Indicates New Matter
Indicates Matter Stricken
Indicates New Matter
INTRODUCED
March 18, 2008
H. 4844
L. Printed 3/18/08--S.
Read the first time March 18, 2008.
TO AMEND ACT 137 OF 2007, RELATING TO ACQUISITION AGREEMENTS FOR SCHOOL BUILDINGS AND OTHER SCHOOL FACILITIES, SO AS TO PROVIDE THAT NO ACQUISITION AGREEMENT MAY BE ENTERED INTO UNTIL THE DILLON COUNTY BOARD OF EDUCATION PROJECTS THAT ALL SALES TAX REVENUE, BOND REVENUE, AND ALL OTHER SOURCES OF AVAILABLE REVENUE ARE SUFFICIENT TO PAY AMOUNTS OWED UNDER THE ACQUISITION AGREEMENT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 2(B) of Act 137 of 2007 is amended to read:
"(B) Notwithstanding any other another provision of this act, no acquisition agreement shall may be entered into pursuant hereto to this act unless, prior to the entry into such agreement, the Dillon County Board of Education shall project projects that the revenues from the sales tax provided for herein in this act and the proceeds of any general obligation bonds of any of the several school districts as provided for in this act shall be and all other sources of revenue that are available to the Dillon County Board of Education for that purpose are sufficient to pay all amounts owed under such agreement and all other such agreements entered into pursuant hereto to this act then in effect."
SECTION 2. This act takes effect upon approval by the Governor.
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