South Carolina General Assembly
118th Session, 2009-2010

Download This Version in Microsoft Word format

Bill 4755

Indicates Matter Stricken
Indicates New Matter

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

INTRODUCED

March 24, 2010

H. 4755

Introduced by Reps. Miller and Anderson

L. Printed 3/24/10--S.

Read the first time March 24, 2010.

            

A BILL

TO PROVIDE THAT THE SCHOOL DISTRICT OF GEORGETOWN COUNTY FOR FISCAL YEAR 2010-2011 MAY EXPEND FUNDS GENERATED FROM A GENERAL OBLIGATION DEBT BOND ISSUE FOR SCHOOL OPERATING PURPOSES, IN ORDER TO DEAL WITH A SHORTAGE OF SCHOOL OPERATING FUNDS, IF PERMITTED BY THE FEDERAL LAW APPLICABLE TO THE PARTICULAR TYPES OF BONDS ISSUED AND IF IT DOES NOT VIOLATE ANY PROVISIONS OF THE BOND INDENTURE APPLICABLE TO THE ISSUANCE AND SALE OF THOSE BONDS.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    The School District of Georgetown County for fiscal year 2010-2011 may expend funds generated from a general obligation debt bond issue for school operating purposes, in order to deal with a shortage of school operating funds, if permitted by the federal law applicable to the particular types of bonds issued and if it does not violate any provisions of the bond indenture applicable to the issuance and sale of those bonds.

SECTION    2.    This act takes effect upon approval by the Governor.

----XX----

This web page was last updated on March 24, 2010 at 7:09 PM