A bill

 

TO AMEND ACT 919 OF 1928, AS AMENDED, RELATING TO THE POWERS AND DUTIES OF THE GREENVILLE AIRPORT COMMISSION, SO AS TO INCREASE THE AUTHORIZED TOTAL INDEBTEDNESS TO TWENTY MILLION DOLLARS.

 

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

 

SECTION 1.  The last paragraph of Section 4 of Act 919 of 1928, as added by Act 636 of 1980, is amended to read:

 

    The commission may borrow money, issue negotiable bonds, notes and other evidences of indebtedness payable solely from the revenue derived from the operation of any revenue-producing facility under its jurisdiction and may mortgage or pledge any assets owned by the commission in connection with such indebtedness. The money may be borrowed to pay costs incident to the operation and maintenance of the airport facility or for any extension, addition, or improvement to its facility. Neither the faith and credit of the State nor of the City or County of Greenville shall be pledged for the payment of any such obligations and neither the members of the commission nor any person signing such obligations shall be personally liable therefor. The total indebtedness authorized by the section shall not exceed one twenty million dollars.

 

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

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