(H) The appointments made pursuant to subsections (B)(2), (B)(3) and (B)(4), subsections (C)(2), (C)(3) and (C)(4), and subsections (D)(1), (D)(2), (D)(3), (D)(4), (D)(5) and (D)(8) shall be subject to the advice and consent of the state Senate.
(I) An authority also may be created by resolutions of municipalities and of counties eligible to make the majority of the appointments to an authority pursuant to subsections (B), (C) or (D), respectively.
(J) A vacancy occurring during the recess of the Senate may be filled by an interim appointment by the appointing body or officer.
The Senate must be notified of the interim appointment, which shall be
submitted no later than the end of the third week of its next ensuing regular
session. The Senate may give or withhold its advice and consent to an
appointment at any time after submission of the appointment, provided that if
the Senate does not advise and consent to an appointment prior to Sine Die
adjournment of that session, the office shall be vacant and the interim
appointment shall not serve in holdover status notwithstanding any other
provision of law to the contrary. In no event may the same individual be
reappointed by the appointing body or officer until such time as the term for
which the interim appointee would have served expires.
(L) A vacancy due to the failure of the Senate to give advice and consent to any appointment may be filled during the recess of the Senate by an interim appointment by the appointing body or officer in the same manner as in Subsection (I).
Section 31-12-50. (A) The term of office for members appointed pursuant to Sections 31-12-40(B) and 31-12-40(C) is as follows: one of the state representatives, one of the county representatives, and one of the municipality representatives shall serve a four-year term as designated by the respective delegation or governing body. The other members shall serve an initial two-year term, including the at-large appointment by the Governor. The term of office for members appointed pursuant to Section 31-12-40(D) shall be split as equally as possible as between two or four years, as determined by lot at their first organizational meeting, other than the appointment by the Governor, who shall serve an initial two year term. After the initial terms all members shall serve four-year terms. Each member shall hold office until his successor is appointed and qualified.
(B) Vacancies for the unexpired terms of any member who resigns, ceases to be qualified, or is removed must be promptly filled in the manner of the original appointment. Any member who is guilty of malfeasance, misfeasance, incompetency, persistent absenteeism, conflicts of interest, misconduct, persistent neglect of duty in office, or incapacity, is subject to removal by majority vote of the appointing body upon any of the foregoing causes being made to appear satisfactory to the appointing body. A member is subject to removal by an appointing body, with or without cause, upon a two-thirds vote of an appointing body. An appointing officer may remove a member of an authority with or without cause. A member shall receive, as the authority determines, reimbursement for reasonable travel expenses and other out of pocket expenses incurred in the discharge of the member's duties.
Section 31-12-60. The Governor's at-large appointment shall serve for a two year term as chairman of any authority initially established. The authority shall select its vice chairman and such other officers as the authority may determine from its membership. The authority shall select its chairman at all times after the Governor's first at-large appointee ceases to serve his first term.
The authority may employ or contract for technical experts and other agents and employees as it may require and may determine the
Section 31-12-70. (A) An authority shall constitute a public body, corporate and politic, exercising public and essential governmental powers, which powers shall include all powers necessary or appropriate to carry out and effectuate the purposes and provisions of this chapter, including the following powers:
(1) to make and from time to time amend and repeal bylaws, rules, regulations, and resolutions;
(2) to have perpetual succession;
(3) to adopt a seal;
(4) to sue and be sued;
(5) to make and execute contracts and other instruments necessary or convenient to the exercise of the powers of the authority; and any contract or instrument when signed by the chairman or vice chairman and secretary or assistant secretary of the authority must be held to have been properly executed for and on its behalf;
(6) to cooperate with any government or municipality as defined in this title;
(7) to act as agent of the State or federal government or any of its instrumentalities or agencies for the public purposes set out in this title;
(8) to prepare or cause to be prepared and adopt redevelopment plans and to undertake and carry out redevelopment projects within its area of operation;
(9) to arrange or contract for the furnishing or repair by any person or agency, public or private, of services, privileges, works, streets, roads, public utilities, or other facilities for or in connection with a redevelopment project; provided, however, the power provided herein shall not be construed to alter or amend the rights, responsibilities, or powers of electrical utilities, electric cooperatives, electric suppliers, municipal electric systems, or the Public Service Authority as provided in Chapter 27 and 31 of Title 58 and Section 5-7-60, as is or as may hereafter be amended;
(10) within its area of operation, to purchase, obtain options upon, acquire by gift, grant, bequest, devise, or otherwise, any real or personal property or any interest in it, together with any improvements on it,
(11) to invest any funds held in reserves or sinking funds or any funds not required for immediate disbursements, in the investments as may be lawful for guardians, executors, administrators or other fiduciaries under the laws of this State; and to redeem its bonds at the redemption price established therein or to purchase its bonds at less than redemption price, all bonds so redeemed or purchased to be canceled;
(12) to borrow money and to apply for and accept advances, loans evidenced by bonds, grants, contributions, and any other form of financial assistance from the federal government, the State, county, municipality, or other public body or from any sources, public or private for the purposes of this chapter, to give this security as may be required and to enter into and carry out contracts in connection with it;
(13) within its area of operation, to make or have made all surveys, studies, and plans necessary to the carrying out of the purposes of this chapter and in connection with it to enter into or upon any land, building, or improvement on it for the purposes and to make soundings, test borings, surveys, appraisals, and other preliminary studies and investigations necessary to carry out its powers and to contract or cooperate with any and all persons or agencies, public or private, in the
(a) plans for carrying out a program of voluntary repair and rehabilitation of buildings and improvements; and
(b) plans for the enforcement of laws, codes, and regulations relating to the use of land, the use and occupancy of buildings and improvements, and to the compulsory repair, rehabilitation, demolition, or removal of buildings and improvements, subject to the approval of the municipality, or county if not within a municipality, within which the properties lie;
(14) to make expenditures as may be necessary to carry out the purposes of this chapter; and to make expenditures from funds obtained from the federal government;
(15) to perform redevelopment project undertakings and activities in one or more contiguous or noncontiguous redevelopment areas that are planned and carried out on the basis of annual tax increments in accordance with the remaining provisions of this Chapter.
(B) In carrying out a redevelopment project, an authority may:
(1) with or without consideration and, at private sale, in accordance with the redevelopment plan, convey real property to the municipality, county, or other appropriate public body to be laid out for streets, alleys, and public ways;
(2) with or without consideration, convey at private sale, in accordance with the redevelopment plan, grant, or dedicate easements and rights-of-way for public utilities, sewers, streets, and other similar facilities;
(3) with or without consideration, and at private sale, in accordance with the redevelopment plan, convey to a municipality, county, or other appropriate public body, real property to be used for parks, schools, public buildings, facilities, or other public purposes; and
(4) temporarily rent or lease, operate, or maintain real property in a redevelopment area, whether or not in accordance with the redevelopment plan and pending the disposition of the property for redevelopment, as may be deemed appropriate.
(C) In developing its redevelopment plans, an authority shall take into account the needs of the surrounding community; shall attempt to integrate the redevelopment of the properties scheduled for disposition with any adjacent areas; and shall consider the extent to which the plan compliments the existing development of the community, the competitive effect on existing businesses in the community, and the compatibility of the redevelopment with the community. To that end, and with the consent
(D) In furtherance of its purposes, an authority may issue revenue bonds, the interest on which may or may not be excludable from gross income for federal income tax purposes, for the purpose of raising funds needed from time to time for the financing or refinancing, in whole or in part, of the acquisition, construction, equipping, maintenance, and operation of any facility, building, structure, or any other matter or thing which the authority is authorized to acquire, construct, equip, maintain, or operate.
Section 31-12-80. (A) Any public body, including the State and any political subdivision or any public or quasi-public entity or affiliated corporate entity by whatever name whose board is appointed pursuant to an act of the General Assembly, upon such terms, with or without consideration, for the purpose of aiding and cooperating in the planning, undertaking, or carrying out of a redevelopment project located within the area in which it is authorized to act, may:
(a) dedicate, sell, convey, or lease any of its interest in any property, or grant easements, licenses, or any other rights or privileges therein to an authority;
(b) cause parks, playgrounds, recreational, community, education, water, sewer, or drainage facilities, or any other works that it is otherwise empowered to undertake, to be furnished in connection with a redevelopment project;
(c) furnish, dedicate, close, vacate, pave, install, grade, regrade, plan or replan streets, roads, sidewalks, ways, or other places that it is otherwise empowered to undertake;
(d) plan or replan any part of the redevelopment;
(e) cause administrative and other services to be furnished to the authority of the character which the public body is otherwise empowered to undertake or furnish for the same or other purposes;
(f) enter into an agreement to pay fees in lieu of taxes as to any
properties it might use, own, or acquire located within the redevelopment
project area, such fees not to exceed amounts which would otherwise be paid if
the properties were not tax exempt, and upon approval of the municipal governing
body, such fees may be pledged for the repayment of tax increment finance
obligations issued pursuant to this chapter;
(h) do any and all things necessary or convenient to aid and cooperate in the planning or carrying out of a redevelopment plan.
(B) Any sale, conveyance, or agreement provided for in this section may be made by a public body without public notice, advertisement, or public bidding.
Section 31-12-90. Notwithstanding any provision of law, neither the State nor any political subdivision or any public or quasi-public entity or affiliated corporate entity by whatever name whose board is appointed pursuant to an act of the General Assembly or any non-profit public or non-profit private corporation chartered for the purpose of furthering economic development may make a profit on the sale of real estate to a redevelopment authority created pursuant to this act; nor may any monies from the authority's assets developed through the sale, lease, or fees generated from the profits be transferred to any government entity above, beyond, or outside of the authority itself, except as may be required or permitted by applicable provisions of the Defense Base Closure Realignment Act, 10 U.S.C. 2901, et seq., as it may be amended from time to time.
Section 31-12-100. (A) An authority created pursuant to this chapter may dissolve the authority by a two-thirds vote of the entire number of authorized members if no property remains for redevelopment or if the authority decides to transfer the remaining redevelopment properties to another public body or successor entity created by statute.
(B) Final dissolution may occur only upon sale of all properties to the private sector or conveyance to another public entity described in subsection (A) with the lawful power to receive real and personal property held by the authority and the satisfaction of all outstanding obligations of the authority or their lawful assumption by another public entity described in subsection (A).
(C) Upon a determination to dissolve, the authority may dispose of any tangible or intangible property remaining after transfer of any remaining redevelopment properties as provided by law or in the following manner:
(1) tangible personal property and cash or similar instruments held by the
authority shall be distributed to the local governmental entities which
nominated members to the authority; and
(D) The authority shall keep annual and permanent records of cash contributions and the value of in-kind donations of the governmental entities, and such records shall be used to determine the distribution of assets of the authority based on the net present value of such contributions at the time it is dissolved.
Section 31-12-110. Notwithstanding any provision of law or regulation, an authority shall be an "agency" for purposes of Chapter 78 of Title 15.
Section 31-12-120. Notwithstanding any provision of law or regulation, an authority must comply with the provisions of Chapter 35 of Title 11 (South Carolina Consolidated Procurement Code) and the related regulations issued by the Budget and Control Board. In any instance where a provision of this chapter is inconsistent with a provision of the Procurement Code or regulation, the Procurement Codes and regulation shall control.
Section 31-12-200. Upon creation of a redevelopment authority by the Governor, any properties scheduled for disposal within a particular municipality, whether contiguous or not, including, to the extent that the State may then or thereafter have or acquire jurisdiction, all properties over which the State has ceded jurisdiction in whole or in part to the United States of America, and including both the real property to be disposed of by an authority as well as any other properties disposed of directly by the federal government to public or private persons or entities, other than disposal to the federal government for other military uses, in connection with military installation closure and realignment, shall without further action being necessary be constituted as a tax increment finance district in accordance with the remaining provisions of this Chapter.
Section 31-12-210. Obligations secured by the special tax allocation fund set forth in Section 31-12-270 for the redevelopment project area may be issued by the municipality upon the request of the authority to provide for redevelopment project costs. The obligations, when so issued, must be retired in the manner provided in the ordinance authorizing the issuance of the obligations by the receipts of taxes levied as specified in Section 31-12-270 against the taxable property included in the area and other revenue as specified in Section 31-12-310 designated by the municipality or by the authority which source does not involve revenues from any tax or license.
In addition to obligations secured by the special tax allocation fund, the municipality, with the concurrence of the authority evidenced by its resolution, may pledge for a period not greater than the term of the obligations toward payment of the obligations any part of the revenues remaining after payment of operation and maintenance, of all or part of any redevelopment project.
The obligations may be issued in one or more series, may bear such date or
dates, may mature at such time or times not exceeding thirty years from their
respective dates, may bear such rate or rates of interest as the governing body
shall determine, may be in such denomination or denominations, may be in such
form, either coupon or registered, may carry such registration and conversion
privileges, may be executed in such manner, may be payable in such medium of
payment, at such place or places, may be subject to such terms of redemption,
with or without premium, may be declared or become due before the maturity date
thereof, may provide for the replacement of mutilated, destroyed, stolen, or
lost bonds, may be authenticated in such manner and upon compliance with such
conditions, and may contain such other terms and covenants, as may be provided
by the governing body of the municipality. If the governing body determines to
sell any obligations the obligations must be sold at public or private sale in
such manner and upon such terms as the governing body considers best for the
interest of the municipality.
A certified copy of the ordinance authorizing the issuance of the obligations must be filed with the clerk of the governing body of each county and treasurer of each county in which any portion of the tax municipality is situated and shall constitute the authority for the extension and collection of the taxes to be deposited in the special tax allocation fund.
A municipality also may issue its obligations to refund in whole or in part obligations previously issued by the municipality under the authority of this chapter, whether at or prior to maturity, and all references in this chapter to "obligations" are considered to include these refunding obligations.
The debt incurred by a municipality pursuant to this chapter is exclusive of
any statutory limitation upon the indebtedness a taxing district may incur. All
obligations issued pursuant to this chapter shall contain a statement on the
face of the obligation specifying the sources from which payment is to be made
and shall state that the full faith, credit, and taxing powers are not pledged
for the obligations.
The trustee or depositary under any indenture may be such persons or
corporations as the governing body designates, or they may be nonresidents of
South Carolina or incorporated under the laws of the United States or the laws
of other states of the United States.
Section 31-12-250. The proceeds from obligations issued under authority of Sections 31-12-200 through 31-12-320 of this chapter must be applied only for the purpose for which they were issued. Any premium and accrued interest received in any such sale must be applied to the payment of the principal of or the interest on the obligations sold. Any portion of the proceeds not needed for redevelopment project costs must be applied to the payment of the principal of or the interest on the obligations.
Section 31-12-260. The obligations authorized by this chapter and the income from the obligations and all security agreements and indentures executed as security for the obligations made pursuant to the provisions of this chapter and the revenue derived from the obligations are exempt from all taxation in the State of South Carolina except for inheritance, estate, or transfer taxes and all security agreements and indentures made pursuant to the provisions of this chapter are exempt from all state stamp and transfer taxes.
Section 31-12-270. A municipality, after the adoption of an ordinance pursuant to Section 31-12-280 concurring in an authority's redevelopment