South Carolina General Assembly
107th Session, 1987-1988

Bill 1275


                    Current Status

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
View additional legislative information at the LPITS web site.


(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(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.