H*4480 Session 109 (1991-1992)
H*4480(Rat #0413, Act #0523 of 1992) General Bill, By Carnell, Boan,
S.R. Foster, J.W. Johnson and J.G. McAbee
A Bill to amend Act 1377 of 1968, as amended, relating to the issuance of
Capital Improvement Bonds, so as to reallocate and reduce existing bond
authorizations, authorize the issuance of additional bonds, authorize the
State Treasurer to transfer an amount necessary from the funds of the various
state retirement systems for use to purchase or build suitable office space
for the Retirement Division of the State Budget and Control Board, to provide
that the purchase must conform to applicable laws, regulations, and policies
governing acquisition, to provide that it is the intent of the General
Assembly that state capital improvement bonds may not be authorized in 1993,
and increase the aggregate principal indebtedness to reflect the additional
capital improvement bonds authorized pursuant to the provisions of this
Act.-amended title
02/27/92 House Introduced and read first time HJ-9
02/27/92 House Referred to Committee on Ways and Means HJ-9
03/17/92 House Committee report: Favorable Ways and Means HJ-5
03/24/92 House Read second time HJ-28
03/25/92 House Read third time and sent to Senate HJ-24
03/26/92 Senate Introduced, read first time, placed on calendar
without reference SJ-16
03/30/92 Senate Read second time SJ-16
04/16/92 Senate Amended SJ-44
04/16/92 Senate Read third time and returned to House with
amendments SJ-44
04/22/92 House Senate amendment amended HJ-47
04/22/92 House Returned to Senate with amendments HJ-47
04/23/92 Senate Concurred in House amendment and enrolled SJ-25
04/28/92 Senate Recalled from Legislative Council SJ-23
04/28/92 Senate Reconsidered SJ-23
04/28/92 Senate Non-concurrence in House amendment SJ-23
04/28/92 House House insists upon amendment and conference
committee appointed Reps. Boan, Carnell & H.
Brown HJ-22
04/28/92 Senate Conference committee appointed Sens. Verne Smith,
Moore, Leatherman SJ-22
04/29/92 House Free conference powers granted HJ-266
04/29/92 House Free conference committee appointed Boan, Carnell
& H. Brown HJ-267
04/29/92 Senate Free conference powers granted
04/29/92 Senate Free conference committee appointed Sens. V.
Smith, Leatherman, Moore SJ-246
04/29/92 Senate Free conference report received and adopted SJ-246
04/29/92 House Free conference report received and adopted HJ-328
04/30/92 Senate Ordered enrolled for ratification
04/30/92 Ratified R 413
05/04/92 Signed By Governor
05/04/92 Effective date 05/04/92
05/04/92 Act No. 523
06/09/92 Copies available
(R413, H4480)
AN ACT TO AMEND ACT 1377 OF 1968, AS AMENDED,
RELATING TO THE ISSUANCE OF CAPITAL IMPROVEMENT
BONDS, SO AS TO REALLOCATE AND REDUCE EXISTING BOND
AUTHORIZATIONS, AUTHORIZE THE ISSUANCE OF
ADDITIONAL BONDS, AUTHORIZE THE STATE TREASURER TO
TRANSFER AN AMOUNT NECESSARY FROM THE FUNDS OF THE
VARIOUS STATE RETIREMENT SYSTEMS FOR USE TO
PURCHASE OR BUILD SUITABLE OFFICE SPACE FOR THE
RETIREMENT DIVISION OF THE STATE BUDGET AND CONTROL
BOARD, TO PROVIDE THAT THE PURCHASE MUST CONFORM
TO APPLICABLE LAWS, REGULATIONS, AND POLICIES
GOVERNING ACQUISITION, TO PROVIDE THAT IT IS THE
INTENT OF THE GENERAL ASSEMBLY THAT STATE CAPITAL
IMPROVEMENT BONDS MAY NOT BE AUTHORIZED IN 1993,
AND INCREASE THE AGGREGATE PRINCIPAL INDEBTEDNESS
TO REFLECT THE ADDITIONAL CAPITAL IMPROVEMENT
BONDS AUTHORIZED PURSUANT TO THE PROVISIONS OF THIS
ACT.
Be it enacted by the General Assembly of the State of South Carolina:
Bond authorization reallocated
SECTION 1. Subitem 13 of Section 3 of Act 1377 of 1968, as added
by Section 1 of Act 518 of 1980, is amended to read:
"13. Educational Television
Commission:
1. Greenville-Replacement
of Transmitter
Equipment and
Transmitter Building
on Paris Mountain. . . . . . .$1,171,900
2. Equipment-Spartanburg
Station. . . . . . . . . . . . . 485,000
3. Equipment-Columbia
Facility . . . . . . . . . . . . 970,000
Total, Education
Television Commission. .$ 2,626,900".
Bond authorization reallocated
SECTION 2. Subitem 5 of item 12 of Section 3 of Act 1377 of 1968,
as added by Section 1 of Act 538 of 1986, is amended to read:
"5. Sumter Area Technical
College
(a) Building 400 Roof
replacement . . . . . . . 100,000
(b) Building 400 Renovations210,000".
Bond authorization reduced
SECTION 3. Sub-subitem (j), subitem 24(A) (Department of Youth
Services), item (f), Section 3 of Act 1377 of 1968, as last amended by
Section 6 of an act of 1991 bearing ratification number 256, is further
amended to read:
"(j) Facility Roofing269,284".
Bonds authorized
SECTION 4. Item (f) of Section 3 of Act 1377 of 1968, as last
amended by an act of 1991 bearing ratification number 256, is further
amended by adding:
"Ports Authority
Economic Development Project25,000,000
__________
Total, Ports Authority 25,000,000
If the Joint Bond Review Committee and the Budget and Control
Board determine that the Ports Authority Economic Development Project
cannot be implemented, the authorization in this subitem is
void."
Bonds authorization reallocated
SECTION 5. Subitem 34 (Horry County), item (f), Section 3 of Act
1377 of 1968, as last amended by Section 8 of an act of 1991 bearing
ratification number 256, is further amended to read:
"34. City of Myrtle Beach
Convention Center 5,000,000
Total, City of Myrtle Beach 5,000,000
The funds authorized in this subitem for the City of Myrtle Beach
Convention Center must be matched on a three-to-one value basis as
provided by the governing body of the City of Myrtle Beach or the
governing body of Horry County, donations in-kind, and any other source
of funds which may be obligated for the convention center, including
funds of any nonprofit corporation pursuant to any certificate of
participation financing of the convention center."
Funds may be transferred to purchase offices for Retirement
System
SECTION 6. (A)(1) The offices of the Retirement Division of the
State Budget and Control Board have relocated three times in the
downtown area of Columbia during the past fifteen years, bringing about
administrative hardship and creating confusion on the part of the two
hundred thousand members and retirees of the various state retirement
systems.
(2) The Retirement Division is currently unable to provide
adequate parking for its thousands of visitors.
(3) Many state retirement systems, after careful study, have
determined it to be prudent to own administrative space acquired through
the use of system funds.
(4) Leasing proposals indicate ownership is a wise option for
our system to pursue.
(B) The General Assembly finds that the Retirement Division of the
State Budget and Control Board needs adequate and suitable office space
to fulfill its ordinary and necessary functions and that ownership of
adequate and suitable office space will lend stability to the division's
relationship with the members and retirees of the various state retirement
systems, provide adequate parking for visitors, and, when compared to
leasing, preserve the funds of the various systems.
(C) The State Treasurer may transfer an amount necessary from the
funds of the various state retirement systems for use in purchasing or
building adequate and suitable offices primarily for the use of the
Retirement Division of the State Budget and Control Board. The purchase
or construction must conform to applicable laws, regulations, and policies
governing acquisitions.
Legislative intent not to authorize bonds in 1993
SECTION 7. Notwithstanding the provisions of Section 2-7-105 of the
1976 Code, it is the intent of the General Assembly that state capital
improvement bonds may not be authorized in 1993.
Aggregate principal indebtedness increased
SECTION 8. Section 4 of Act 1377 of 1968, as last amended by an act
of 1991 bearing ratification number 256, is further amended to read:
"Section 4. The aggregate principal indebtedness on account
of bonds issued pursuant to this act may not exceed $1,790,539,125.10.
The limitation imposed by the provisions of this section does not apply to
bonds issued on behalf of the Mental Health Commission as provided in
Acts 1276 and 1272 of 1970, or to bonds issued on behalf of the
Commission on Mental Retardation as provided in Act 1087 of 1970 or to
bonds issued on behalf of the South Carolina Fire Academy. The
limitation imposed by the provisions of this section is not considered to be
an obligation of the contract made between the State and holders of bonds
issued pursuant to this act, and the limitation imposed by the provisions of
this section may be enlarged by acts amending it or reduced by the
application of the Capital Reserve Fund or by amendments of this act.
Within these limitations state capital improvement bonds may be issued
under the conditions prescribed by this act."
Time effective
SECTION 9. This act takes effect upon approval by the Governor.
In the Senate House April 30, 1992.
Nick A. Theodore,
President of the Senate
Robert J. Sheheen,
Speaker of the House of
Representatives
Approved the 4th day of May, 1992.
Carroll A. Campbell, Jr.,
Governor
Printer's Date -- June 1, 1992 -- S.
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