South Carolina General Assembly
108th Session, 1989-1990

Bill 1352

                    Current Status

Bill Number:               1352
Ratification Number:       486
Act Number                 624
Introducing Body:          Senate
Subject:                   Issuance of bonds by Clemson
                           University
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A624, R486, S1352)

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 THIRTY TO FORTY MILLION DOLLARS THE AUTHORIZED AMOUNT OF THE BONDS.

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

Bonds increased

SECTION 1. Section 4 of Act 456 of 1961, as last amended by Act 701 of 1988, 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 from time to time may 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 forty million dollars."

Time effective

SECTION 2. This act takes effect upon approval by the Governor.

Approved the 25th day of April, 1990.