South Carolina General Assembly
103rd Session, 1979-1980

Bill 670

                    Current Status

Bill Number:               670
Ratification Number:       337
Act Number                 576
Introducing Body:          Senate
Subject:                   Issuance of bonds
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A576, R337, S670)

AN ACT TO PROVIDE THAT THE SCHOOL DISTRICT OF BEAUFORT COUNTY SHALL NOT ISSUE BONDS IN AN AMOUNT IN EXCESS OF SIXTEEN MILLION TWO HUNDRED FIFTY THOUSAND DOLLARS UNLESS BOND ISSUES IN EXCESS OF THAT AMOUNT ARE APPROVED BY A FAVORABLE REFERENDUM VOTE OF THE QUALIFIED ELECTORS OF THE DISTRICT.

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

Issuance of bonds

Section 1. Beginning on the effective date of this act no bonds shall be issued by the School District of Beaufort County in an aggregate amount exceeding sixteen million two hundred fifty thousand dollars unless the issue of bonds in excess of that amount is approved by a majority of the qualified electors of the district voting in a referendum conducted for that purpose pursuant to Chapter 71 of Title 59 of the 1976 Code (the School Bond Act).

The sixteen million two hundred fifty thousand dollar limitation shall apply to a single bond issue or several issues made from time to time with a total aggregate amount up to the limitation.

In computing the limitation prescribed in this act bonds issued prior to the effective date of this act shall not be considered.

The limitation prescribed by this act shall expire November 30, 1982.

Time effective

Section 2. This act shall take effect upon approval by the Governor.