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TO AMEND ACT 1377 OF 1968, AS AMENDED, RELATING TO THE ISSUANCE OF STATE CAPITAL IMPROVEMENT BONDS, TO AUTHORIZE ADDITIONAL PROJECTS, TO CONFORM THE AGGREGATE PRINCIPAL INDEBTEDNESS AMOUNT TO THE ADDITIONAL AMOUNTS AUTHORIZED BY THIS ACT, AND TO PROVIDE THAT THE PROVISIONS CONTAINED IN SECTION 2-7-105 OF THE 1976 CODE DO NOT APPLY TO THIS ACT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Item (f) of Section 3 of Act 1377 of 1968, as last amended by Act 308 of 2012, is further amended by adding:
SECTION 2. The first sentence of Section 4 of Act 1377 of 1968, as last amended by Act 308 of 2012, is further amended to read:
SECTION 3. Notwithstanding any other provision of law, the provisions contained in Section 2-7-105 of the 1976 Code do not apply to the provisions contained in this act.
SECTION 4 Funds for the projects authorized in SECTION 1 may not be released until January 1, 2016.
SECTION 5. This bill takes effect upon approval by the Governor.
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