Hint: To avoid truncation when printing, be sure your software is set to print in Landscape Orientation. Adjust font size as needed.

Indicates Matter Stricken
Indicates New Matter

26                       SECTION 10
27
28     TO AMEND SECTION 59-53-53, AS AMENDED,  OF THE 1976 CODE, RELATING TO BORROWING BY AREA
29     COMMISSIONS OF TECHNICAL COLLEGES AND THE MANNER IN WHICH THESE AREA COMMISSIONS ARE
30     AUTHORIZED TO DISPOSE OF SURPLUS REAL PROPERTY, SO AS TO REVISE THE MANNER IN WHICH AND
31     PROCEDURES UNDER WHICH SURPLUS REAL PROPERTY MAY BE DISPOSED OF BY TECHNICAL COLLEGES; AND
32     TO AMEND SECTION 59-101-180, RELATING TO THE SALES AND DISPOSAL OF REAL PROPERTY BY
33     STATE-SUPPORTED INSTITUTIONS OF HIGHER LEARNING, SO AS TO REVISE THE MANNER IN WHICH AND
34     PROCEDURES UNDER WHICH SURPLUS REAL PROPERTY MAY BE DISPOSED OF BY THESE INSTITUTIONS.



PART II                                                                            PAGE 546

 1     A.  Section 59-53-53 of the 1976 Code, as last amended by Act 676 of 1988,  is further amended to read:
 2
 3           "Section 59-53-53.   (A) The area commission of any technical education institution under the jurisdiction of the South Carolina technical
 4     education system may borrow for capital improvements from a federal or other lending agency an amount not to exceed its ability to repay the
 5     loan through the imposition of a special fee. The terms of the loan may not exceed forty years. An area commission may issue covenants, enter
 6     into mortgages, and grant liens limiting the sale or use of certain parcels of real or personal property in its possession when required as a
 7     condition of accepting a grant, loan, or donation for specified capital improvement projects. Local area commissions may dispose of real
 8     property that is surplus to their needs upon prior approval of the State Board for Technical and Comprehensive Education, the Budget and
 9     Control Board, and the Joint Bond Review Committee. Proceeds from the sale of such property must be deposited in the capital improvement
10     account and expended by the local institution in accordance with all applicable state and other laws.
11           To amortize the loan, a special fee must be imposed within the limits established by the state board, the proceeds of which must be
12     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.
13     No funds other than the revenue from the special fee may be pledged for payment of the loan.
14           (B)  The governing body for each technical college shall review the real property titled in the name of its institution to determine if such
15     property is in excess of the institution's anticipated needs and is available for disposal.  All real properties determined to be in excess may be
16     disposed of with the approval of the State Board for Technical and Comprehensive Education, the Budget and Control Board, and the Joint
17     Bond Review Committee.  The proceeds of such sales are to be disposed of as follows:
18                  (1)  if the property was acquired by gift, or through tuition, student fees, county funds, or earned income, the proceeds may be retained
19     by the selling institution for use in accord with established needs;
20                  (2)  if the property was acquired through state appropriations, state capital improvement bonds, or formula funds, the proceeds shall
21     revert to the state general fund.  The responsibility for providing any necessary documentation including , but not limited to, documenting the
22     fund source of any real property proposed for sale rests with each respective institution.
23
24     B.   Section 59-101-180 of the 1976 Code is amended to read:
25           "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
26     dispose of any of its real estate other than buildings with the consent of two thirds of the members of the board of trustees.
27           The governing body for each state-support college and university shall review the real property titled in the name of its institution to
28     determine if such property is in excess of the institution's anticipated needs and is available for disposal.  All real properties determined to be
29     in excess may be disposed of with the approval of the Budget and Control Board and the governing body for the college or university.  The
30     proceeds of such sales are to be disposed of as follows:
31                  (1)  if the property was acquired as a gift, or through tuition, student fees or earned income, the proceeds may be retained by the selling
32     institution for use in accord with established needs;



PART II                                                                            PAGE 547

 1                  (2)  if the property was acquired through state appropriations, state capital improvement bonds, or formula funds, the proceeds shall
 2     revert to the state general fund.  The responsibility for providing any necessary documentation including , but not limited to, documenting the
 3     fund source of any real property proposed for sale rests with each respective institution."
 4
 5     C.   This section takes effect upon approval by the Governor.
 6