Current Status BillNumber: 2729 Ratification Number: 42 Act Number: 266 Introducing Body: House Subject: Authorize Dorchester County School District No. 4 to issue general obligation bondsView additional legislative information at the LPITS web site.
(A266, R42, S2729)
A JOINT RESOLUTION TO AUTHORIZE DORCHESTER COUNTY SCHOOL DISTRICT NO. 4 TO ISSUE GENERAL OBLIGATION BONDS IN FULFILLMENT OF THE OBLIGATION INCURRED BY DORCHESTER COUNTY SCHOOL DISTRICT NO. 1 TO ISSUE THE BONDS.
Whereas, Act 536 of 1986 provided for the consolidation of Dorchester County School Districts No. 1 and No. 3 into a single school district known as Dorchester County School District No. 4; and
Whereas, the consolidation became effective upon the approval of the United States Department of Justice on February 12, 1987; and
Whereas, on January 5, 1987, Dorchester County School District No. 1 authorized the issuance of six hundred fifty thousand dollars of general obligation bonds; and
Whereas, the Dorchester County Board of Education approved the authorization of the issuance of bonds by Dorchester County School District No. 1 on January 15, 1987; and
Whereas, all of the requirements for the issuance of school bonds pursuant to Chapter 71 of Title 59 of the 1976 Code were followed by Dorchester County School District No. 1; and
Whereas, on February 24, 1987, the bonds were sold at public sale to NCNB. Now, therefore,
Be it enacted by the General Assembly of the State of South Carolina:
Dorchester County School District No. 4 authorized to issue bonds
SECTION 1. Dorchester County School District No. 4 is authorized to issue six hundred fifty thousand dollars of general obligation bonds in fulfillment of the obligation incurred by Dorchester County School District No. 1 to issue the bonds. All requirements for the issuance of school bonds pursuant to Chapter 71 of Title 59 of the 1976 Code are deemed to have been followed by Dorchester County School District No. 4 without the necessity of any further sale of the bonds.
Time effective
SECTION 2. This act takes effect upon approval by the Governor.
Approved the 3rd day of April, 1987.