Current StatusView additional legislative information at the LPITS web site.Bill Number: 1275 Ratification Number: 492 Act Number 701 Introducing Body: Senate Subject: Issuance of bonds by Clemson University for student and faculty housing facilities
(A701, R492, S1275)
AN ACT TO AMEND ACT 456 OF 1961, AS AMENDED, RELATING TO THE ISSUANCE OF BONDS BY CLEMSON UNIVERSITY FOR STUDENT AND FACULTY HOUSING FACILITIES, SO AS TO INCREASE FROM TWENTY TO THIRTY MILLION DOLLARS THE AUTHORIZED AMOUNT OF THE BONDS.
Be it enacted by the General Assembly of the State of South Carolina:
Bond authorization increased
SECTION 1. Section 4 of Act 456 of 1961, as last amended by Act 518 of 1980, is further amended to read:
"Section 4. Upon receiving the approval of the State Budget and Control Board and upon review by the Joint Bond Review Committee as provided in Chapter 47, Title 2 of the 1976 Code, the trustees may from time to time borrow further sums as may be necessary to accomplish the purpose of this act and to evidence the borrowings by bonds issued pursuant to this act in an aggregate principal amount as they determine, except that other provisions of this act to the contrary notwithstanding, there must not be outstanding at any time bonds issued pursuant to this act in excess of thirty million dollars."
Time effective
SECTION 2. This act takes effect upon approval by the Governor.