View Amendment Current Amendment: 19 to Bill 491

Senator MALLOY proposed the following amendment (491R016.SP.GM):

Amend the joint resolution, as and if amended, on page 6 at line 28 by inserting an appropriately numbered new SECTION to read:

/SECTION __. The provisions of Section 54-3-1010 are suspended at the first issuance of general obligation bonds issued pursuant to this joint resolution and will remain suspended until the South Carolina State Ports Authority reimburses the State for the principal amount of the bonds. The South Carolina State Ports Authority shall make an annual payment to the General Fund to be disbursed to any account as necessary to comply with the provisions contained in Section 11-41-130, related to the payment of principal and interest on economic development bonds. /