South Carolina General Assembly
119th Session, 2011-2012

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Indicates Matter Stricken
Indicates New Matter

H. 4094

STATUS INFORMATION

Joint Resolution
Sponsors: Rep. Stavrinakis
Document Path: l:\council\bills\bbm\10155htc11.docx

Introduced in the House on April 13, 2011
Introduced in the Senate on May 3, 2011
Currently residing in the Senate

Summary: Charleston County School District

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
   4/13/2011  House   Introduced and read first time (House Journal-page 51)
   4/13/2011  House   Referred to Charleston Delegation (House Journal-page 51)
   4/27/2011  House   Delegation report: Favorable Charleston Delegation 
                        (House Journal-page 44)
   4/28/2011  House   Read second time (House Journal-page 11)
   4/28/2011  House   Roll call Yeas-10  Nays-0 (House Journal-page 11)
   4/28/2011  House   Unanimous consent for third reading on next legislative 
                        day (House Journal-page 12)
   4/28/2011          Scrivener's error corrected
   4/29/2011  House   Read third time and sent to Senate (House Journal-page 1)
    5/3/2011  Senate  Introduced, read first time, placed on local & 
                        uncontested calendar (Senate Journal-page 27)

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

4/13/2011
4/27/2011
4/28/2011
5/3/2011

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

INTRODUCED

May 3, 2011

H. 4094

Introduced by Rep. Stavrinakis

L. Printed 5/3/11--S.

Read the first time May 3, 2011.

            

A JOINT RESOLUTION

TO PROVIDE THAT THE SCHOOL DISTRICT OF CHARLESTON COUNTY FOR FISCAL YEARS 2010-2011 THROUGH 2012-2013 MAY EXPEND FUNDS GENERATED FROM A GENERAL OBLIGATION DEBT BOND ISSUED FOR SCHOOL OPERATING PURPOSES, IN ORDER TO DEAL WITH A SHORTAGE OF SCHOOL OPERATING FUNDS, IF PERMITTED BY THE FEDERAL LAW APPLICABLE TO THE PARTICULAR TYPES OF BONDS ISSUED AND IF IT DOES NOT VIOLATE ANY PROVISIONS OF THE BOND INDENTURE APPLICABLE TO THE ISSUANCE AND SALE OF THOSE BONDS AND TO REQUIRE THAT ANY BOND FUNDS USED FOR SCHOOL OPERATING PURPOSES MUST BE RESTORED TO THE APPROPRIATE BOND PROCEEDS ACCOUNTS WITHIN TWELVE MONTHS.

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

SECTION    1.    The School District of Charleston County for Fiscal Years 2010-2011 through 2012-2013, in the event of a shortfall in school operating funds, may expend funds generated from a general obligation debt bond issued for school operating purposes, if permitted by the federal law applicable to the particular types of bonds issued and if it does not violate any provisions of the bond indenture applicable to the issuance and sale of those bonds. Any bond proceeds used for school operations pursuant to this section must be restored to the appropriate bond proceeds accounts within twelve months.

SECTION    2.    This joint resolution takes effect upon approval by the Governor.

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This web page was last updated on May 4, 2011 at 8:49 AM