2005-2006 Bill 320: USC Athletic Facilities Bonds - South Carolina Legislature Online

South Carolina General Assembly

116th Session, 2005-2006

A182, R45, S320

STATUS INFORMATION

General Bill

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

DateBodyAction Description with journal page number

1/25/2005SenateIntroduced and read first time SJ11

1/25/2005SenateReferred to Committee on FinanceSJ11

2/23/2005SenateCommittee report: Favorable with amendment FinanceSJ19

2/24/2005SenateAmended SJ16

2/24/2005SenateRead second time SJ16

3/1/2005SenateRead third time and sent to House SJ10

3/2/2005HouseIntroduced and read first time HJ6

3/2/2005HouseReferred to Committee on Ways and MeansHJ6

4/13/2005HouseCommittee report: Favorable Ways and MeansHJ9

4/19/2005HouseRead second time HJ67

4/19/2005HouseRoll call Yeas114 Nays0 HJ67

4/20/2005HouseRead third time and enrolled HJ33

4/28/2005Ratified R 45

5/3/2005Signed By Governor

5/5/2005Copies available

5/5/2005Effective date 05/03/05

7/20/2005Act No.182

VERSIONS OF THIS BILL

1/25/2005

2/23/2005

2/24/2005

4/13/2005

(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:

References

SECTION1.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

SECTION2.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.”

Time effective

SECTION3.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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