Current StatusView additional legislative information at the LPITS web site.Bill Number: 44 Ratification Number: 5 Act Number 3 Introducing Body: Senate Subject: Date of issuance of bond anticipation notes to be used
(A3, R5, S44)
AN ACT TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 11-17-120 SO AS TO PROVIDE THAT THE DATE OF ISSUANCE OF BOND ANTICIPATION NOTES SHALL BE USED TO DETERMINE WHETHER OR NOT BONDS ISSUED TO FUND SUCH NOTES OR REFUND THEM ARE ISSUED WITHIN ANY TIME LIMITATION OR OTHER CONDITION PRESCRIBED BY LAW.
Be it enacted by the General Assembly of the State of South Carolina:
Date of issuance of bond anticipation notes to be used
SECTION 1. The 1976 Code is amended by adding: "Section 11-17-120. Whenever, after the issuance of general obligation bond anticipation notes, it becomes necessary to determine whether or not general obligation bonds issued to provide funds with which to pay such notes (or any notes refunding such notes) have been issued within any time limitation prescribed therefor or in obedience to any condition imposed by law, the date of the issuance of the original notes shall be used for the purposes of such determination . "
Time effective
SECTION 2. This act shall take effect upon approval by the Governor.