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 1                       SECTION 10
 2
 3     TO AMEND SECTION 59-53-53, AS AMENDED,  OF THE 1976 CODE, RELATING TO BORROWING BY AREA
 4     COMMISSIONS OF TECHNICAL COLLEGES AND THE MANNER IN WHICH THESE AREA COMMISSIONS ARE
 5     AUTHORIZED TO DISPOSE OF SURPLUS REAL PROPERTY, SO AS TO REVISE THE MANNER IN WHICH AND
 6     PROCEDURES UNDER WHICH SURPLUS REAL PROPERTY MAY BE DISPOSED OF BY TECHNICAL COLLEGES; AND
 7     TO AMEND SECTION 59-101-180, RELATING TO THE SALES AND DISPOSAL OF REAL PROPERTY BY
 8     STATE-SUPPORTED INSTITUTIONS OF HIGHER LEARNING, SO AS TO REVISE THE MANNER IN WHICH AND
 9     PROCEDURES UNDER WHICH SURPLUS REAL PROPERTY MAY BE DISPOSED OF BY THESE INSTITUTIONS.
10
11     A.  Section 59-53-53 of the 1976 Code, as last amended by Act 676 of 1988,  is further amended to read:
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13           "Section 59-53-53.  (A) The area commission of any technical education institution under the jurisdiction of the South Carolina
14     technical education system may borrow for capital improvements from a federal or other lending agency an amount not to exceed its ability
15     to repay the loan through the imposition of a special fee. The terms of the loan may not exceed forty years. An area commission may issue
16     covenants, enter into mortgages, and grant liens limiting the sale or use of certain parcels of real or personal property in its possession when
17     required as a condition of accepting a grant, loan, or donation for specified capital improvement projects. Local area commissions may
18     dispose of real property that is surplus to their needs upon prior approval of the State Board for Technical and Comprehensive Education,
19     the Budget and Control Board, and the Joint Bond Review Committee. Proceeds from the sale of such property must be deposited in the
20     capital improvement account and expended by the local institution in accordance with all applicable state and other laws.
21           To amortize the loan, a special fee must be imposed within the limits established by the state board, the proceeds of which must be
22     deposited in a special account to be used for payment of the loan in accordance with the terms negotiated by the commission and the lender.
23     No funds other than the revenue from the special fee may be pledged for payment of the loan.
24           (B) The governing body for each technical college shall review the real property titled in the name of its institution to determine if
25     such property is in excess of the institution's anticipated needs and is available for disposal.  All real properties determined to be in excess
26     may be disposed of with the approval of the State Board for Technical and Comprehensive Education, the Budget and Control Board, and
27     the Joint Bond Review Committee.  The proceeds of such sales are to be disposed of as follows:
28                  (1) if the property was acquired by gift, or through tuition, student fees, county funds, or earned income, the proceeds may be
29     retained by the selling institution for use in accord with established needs;
30                  (2) if the property was acquired through state appropriations, state capital improvement bonds, or formula funds, the proceeds
31     shall revert to the state general fund.  The responsibility for providing any necessary documentation including , but not limited to,
32     documenting the fund source of any real property proposed for sale rests with each respective institution.
33
34     B.  Section 59-101-180 of the 1976 Code is amended to read:



        PART II                                    PAGE 538

 1           "Section 59-101-180.  Any institution of higher learning supported in whole or in part by the State shall have the power to sell and
 2     dispose of any of its real estate other than buildings with the consent of two thirds of the members of the board of trustees.
 3           The governing body for each state-support college and university shall review the real property titled in the name of its institution to
 4     determine if such property is in excess of the institution's anticipated needs and is available for disposal.  All real properties determined
 5     to be in excess may be disposed of with the approval of the Budget and Control Board and the governing body for the college or university.
 6     The proceeds of such sales are to be disposed of as follows:
 7                  (1) if the property was acquired as a gift, or through tuition, student fees or earned income, the proceeds may be retained by the
 8     selling institution for use in accord with established needs;
 9                  (2) if the property was acquired through state appropriations, state capital improvement bonds, or formula funds, the proceeds
10     shall revert to the state general fund.  The responsibility for providing any necessary documentation including , but not limited to,
11     documenting the fund source of any real property proposed for sale rests with each respective institution."
12
13     C.  This section takes effect upon approval by the Governor.
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