South Carolina General Assembly
106th Session, 1985-1986

Bill 2081

                    Current Status

Bill Number:               2081
Ratification Number:       32
Act Number:                236
Introducing Body:          House
Subject:                        Bonds for the acquisition of student
                           housing facilities at Winthrop
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A236, R32, H2081)

AN ACT TO AMEND ACT 488 OF 1965, AS AMENDED, RELATING TO THE ISSUANCE OF CERTAIN BONDS FOR THE ACQUISITION OF STUDENT HOUSING FACILITIES AT WINTHROP COLLEGE, SO AS TO AUTHORIZE THE BOARD OF TRUSTEES OF WINTHROP COLLEGE TO SIMILARLY FINANCE THE REPAIR, RENOVATION, AND RECONSTRUCTION OF EXISTING STUDENT HOUSING FACILITIES.

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

Findings

SECTION 1. The General Assembly finds that Act 488 of 1965 permits the Board of Trustees of Winthrop College at Section 3 "to acquire additional student housing facilities which shall include all necessary related facilities, to the extent they shall approve and can acquire with the proceeds of the bonds authorized by this act." The General Assembly finds that existing student housing facilties are in need of repair, renovation, and reconstruction. These improvements will prolong the useful life of existing student housing facilities and thereby reduce the need to acquire additional student housing facilities. Such a result will achieve savings for Winthrop College and its students by providing a means for improving and thereby prolonging the use of existing student housing facilities. On this basis, the General Assembly has determined to amend Act 488 of 1965 so as to permit the trustees to finance the cost of repair, renovation, and reconstruction of existing student housing facilities in addition to the authorizations currently contained in this act.

Acquisition of student housing

SECTION 2. Section 3 of Act 488 of 1965, as last amended by Act 179 of 1981, is further amended to read:

"Section 3. The trustees are authorized and empowered to acquire additional student housing facilities and to repair, renovate, and reconstruct existing student housing facilities which shall include all necessary related facilities, to the extent they shall approve and can acquire with the proceeds of the bonds authorized by this act. The trustees are also authorized and empowered to effect the refunding of all or any part of the bonds now or hereafter outstanding, which have been issued pursuant to this act."

Time effective

SECTION 3. This act shall take effect upon approval by the Governor.