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Indicates Matter Stricken
Indicates New Matter
Indicates Matter Stricken
Indicates New Matter
INTRODUCED
May 26, 2004
S. 1277
L. Printed 5/26/04--S. [SEC 5/27/04 3:44 PM]
Read the first time May 26, 2004.
TO AMEND ACT 327 OF 1977, RELATING TO THE ABILITY OF SCHOOL DISTRICT NO. 2 OF DORCHESTER COUNTY TO ISSUE BONDS, SO AS TO PROVIDE THAT, BEFORE ISSUING BONDS, THE TRUSTEES SHALL SUBMIT THE QUESTION TO THE QUALIFIED ELECTORS OF THE DISTRICT AT THE TIME OF THE GENERAL ELECTION.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 2 of Act 327 of 1977 is amended to read:
"Section 2. For the purpose of providing appropriate sites and constructing and equipping additional public school facilities in the school district, the trustees are hereby authorized and empowered to issue, without an election, general obligation bonds of the school district, either as a single issue, or from time to time as several separate issues, in the aggregate principal amount of not exceeding two million dollars, or in such lesser amount as shall, on the occasion of the issuance of any bonds pursuant to the authorization of this act, be within the constitutional debt limitation then applicable to the school district. Before issuing bonds pursuant to this section, the trustees shall submit the question to the qualified electors of the district at the time of the general election."
SECTION 2. This act takes effect upon approval by the Governor.
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