reglab/housing_qa huggingface dataset:
SC Code § 59-71-320 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 71 - School Bonds|Section 59-71-320. Duties of State Treasurer.

 Upon adoption of the resolution, a copy shall be transmitted to the State Treasurer together with a concise statement showing the principal and estimated interest payments to become due on the bonds to be issued. If the State Treasurer determines  (a) that sufficient funds can reasonably be expected to accrue to the school district from State revenues otherwise applicable to the school district for other purposes to provide debt service on the bonds,  (b) that the resolution provides adequate assurance that ad valorem taxes will be levied annually on all taxable property within the school district sufficient to pay the principal and interest on the bonds as they become due and  (c) that an interest savings can be expected to result from his approval of the resolution, the State Treasurer shall approve the resolution by signing it. It is not the intent of this section to give the State Treasurer authority to approve or disapprove a local bond issue.  HISTORY: 1962 Code Section 21-993.1; 1973 (58) 652.
SC Code § 59-71-330 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 71 - School Bonds|Section 59-71-330. Rules and regulations.

 The State Treasurer is hereby authorized to prescribe rules and regulations  (a) requiring the filing of such information as he deems pertinent with respect to bonds to be sold with the provision authorized by Section 1 of 1973 Act No. 378,  (b) requiring school districts issuing bonds to provide him with an analysis of each annual tax levy to be made therein before it is imposed,  (c) providing for the immediate withholding of any funds due to a school district which fails to impose adequate millage for debt service, or which fails to perform any of the terms and provisions contained in any such resolution or to comply with any such rules and regulations.  HISTORY: 1962 Code Section 21-993.2; 1973 (58) 652.  Editor's Note  The reference in this section to "Section 1 of 1973 Act No. 378" appears erroneous as that section sets out the findings of the General Assembly relative to this article; that section was not codified. It appears that the reference was probably intended to be Section 2 of 1973 Act No. 378 which is codified as 1976 Code Section 59-71-310.
SC Code § 59-71-340 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 71 - School Bonds|Section 59-71-340. Levy of additional tax.

 The State Comptroller is directed in any year to levy and the State Treasurer is directed to collect in any school district which does not levy adequate millage for that year, to provide debt service to become due on bonds sold with the provision authorized by Section 1 of 1973 Act No. 378, an ad valorem tax on all taxable property in the school district without limit as to rate or amount sufficient to pay the principal of and interest on the bonds as they become due, including all bonds and coupons paid by him pursuant to Section 2 of 1973 Act No 378. A notice of such tax levy shall be provided to the district board by March first.  HISTORY: 1962 Code Section 21-993.3; 1973 (58) 652.  Editor's Note  The reference in this section to "Section 1 of 1973 Act No. 378" appears erroneous as that section sets out the findings of the General Assembly relative to this article; that section was not codified. It appears that the reference was probably intended to be Section 2 of 1973 Act No. 378 which is codified as 1976 Code Section 59-71-310. Similarly, the reference in this section to "Section 2 of 1973 Act No. 378" which appears as 1976 Code Section 59-71-310 seems erroneous and the actual reference intended was to Section 3 of 1973 Act No. 378 which appears as 1976 Code Section 59-71-320.
SC Code § 59-71-410 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 71 - School Bonds|Section 59-71-410. Authority to issue State school bonds.

 For the purpose of enabling the State Board of Education to raise funds for capital improvements and other purposes in addition to those funds provided by Article 3 of Chapter 21 of this Title, for the purpose of enabling the Board to raise funds necessary to acquire the school bus equipment authorized to be acquired by the provisions of Article 3 of Chapter 67 of this Title and for the purpose of permitting the Board to raise funds to refinance the short-term indebtedness incurred in connection with the acquisition of school bus equipment, the Governor and the State Treasurer may issue State school bonds under the conditions prescribed by this article.  HISTORY: 1962 Code Section 21-995; 1952 Code Section 21-995; 1951 (47) 546; 1959 (51) 130; 1967 (55) 719.
SC Code § 59-71-420 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 71 - School Bonds|Section 59-71-420. Limits on aggregates of indebtedness; maturity date.

 The aggregate outstanding principal indebtedness on account of bonds issued for capital improvements and other purposes, after deducting that part of any sinking fund applicable to the retirement of bonds issued for such purposes, shall never exceed one hundred thirty-seven million, five hundred thousand dollars.  The aggregate outstanding principal indebtedness on account of bonds issued to acquire the school bus equipment authorized by the provisions of Article 3 of Chapter 67 of this Title, after deducting that part of any sinking fund applicable to the retirement of bonds issued for such purpose, shall never exceed nine million dollars.  Within such limits, State school bonds may be issued from time to time under the conditions prescribed by this article, but in no event to mature later than July 1, 1991.  HISTORY: 1962 Code Section 21-996; 1952 Code Section 21-996; 1951 (47) 546; 1954 (48) 1530; 1955 (49) 125, 595; 1956 (49) 1773; 1961 (52) 480; 1966 (54) 2044; 1967 (55) 719.
SC Code § 59-71-430 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 71 - School Bonds|Section 59-71-430. Request for issuance of bonds.

 Before any State school bonds are issued, the State Board of Education shall transmit to the Governor and to the State Treasurer a request for the issuance thereof and shall embody in such request:  (a) A schedule showing the aggregate of bonds issued pursuant to previous requests, the purposes for which they were issued, the annual payments required to retire such bonds, the interest thereon and the amount of sinking fund applicable to the retirement of such outstanding bonds, apportioned in accordance with the requirement of Section 59-71-570;  (b) the amount of bonds sought to be issued;  (c) a schedule showing future annual principal requirements and estimated annual interest requirements on the bonds requested to be issued;  (d) a schedule showing  (i) the estimated total funds required to cover applications for capital improvements and other purposes to be approved by the Board in that fiscal year;  (ii) the amount of funds then available to apply on such applications and;  (iii) the remaining amount required to cover such applications, being the amount for which it is proposed that State school bonds be issued.  HISTORY: 1962 Code Section 21-997; 1952 Code Section 21-997; 1951 (47) 546; 1967 (55) 719.
SC Code § 59-71-440 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 71 - School Bonds|Section 59-71-440. Conditions warranting issuance of bonds.

 If the following shall appear to the satisfaction of the Governor and the State Treasurer from the foregoing request:  (a) That the amount of revenues derived from the retail sales tax received during the next preceding fiscal year will, if received annually thereafter, be sufficient to pay as they fall due the principal and interest on such proposed State school bonds and all other State school bonds theretofore issued;  (b) that the amount of revenues estimated by the State Board of Education to be received during the term for which such proposed State school bonds will be outstanding will be sufficient to pay, as the same respectively mature, the principal and interest of such bonds and of all other State school bonds theretofore issued;  (c) that the estimate by the State Board of Education of its needs as shown pursuant to Section 59-71-430 requires bonds to be issued in the amount requested;  (d) that the issue will be within the limitations prescribed by Section 59-71-420; it shall be the duty of the Governor and the State Treasurer to issue State school bonds in accordance with such request.  HISTORY: 1962 Code Section 21-998; 1952 Code Section 21-998; 1951 (47) 546; 1967 (55) 719.
SC Code § 59-71-450 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 71 - School Bonds|Section 59-71-450. Form of bonds; time, place, and medium of payment.

 The State school bonds shall be issued in such form and with such provisions as to time, place or places and medium of payment as may be determined by the Governor and the State Treasurer, subject to the provisions of this article.  HISTORY: 1962 Code Section 21-999; 1952 Code Section 21-999; 1951 (47) 546.
SC Code § 59-71-460 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 71 - School Bonds|Section 59-71-460. Denomination of bonds.

 State school bonds shall each be in the denomination of one thousand dollars or some multiple thereof.  HISTORY: 1962 Code Section 21-999.1; 1952 Code Section 21-999.1; 1951 (47) 546; 1956 (49) 1773.
SC Code § 59-71-470 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 71 - School Bonds|Section 59-71-470. Form of bonds; registration.

 State school bonds issued pursuant to this article may be in the form of negotiable coupon bonds, payable to bearer, with the privilege to the holder of having them registered in his name on the books of the State Treasurer as to principal only, or as to both principal and interest, and such principal, or both principal and interest, as the case may be, thus made payable to the registered holder, subject to such conditions as the State Treasurer may prescribe. State school bonds so registered as to principal in the name of the holder may thereafter be registered as payable to bearer and made payable accordingly.  State school bonds may also be issued as fully registered bonds with both principal and interest thereof made payable only to the registered holder. Such fully registered bonds shall be subject to transfer under such conditions as the State Treasurer may prescribe. Such fully registered bonds may, if the proceedings authorizing their issuance so provide, be convertible into negotiable coupon bonds with the attributes set forth in the first paragraph of this section.  HISTORY: 1962 Code Section 21-999.2; 1952 Code Section 21-999.2; 1951 (47) 1773; 1956 (49) 1773.
SC Code § 59-71-480 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 71 - School Bonds|Section 59-71-480. Interest; maturities; redemption.

 State school bonds shall bear interest, payable semiannually, at a rate or rates not exceeding the maximum interest rate specified in the Board's request for the issuance thereof. Each issue of State school bonds shall mature in annual series or installments, the first of which annual series or installments shall mature not more than ten years after the date of the bonds and the last not more than twenty-four years after such date. The installments or series may be equal or unequal in amount. State school bonds may, in the discretion of the Board, be made subject to redemption at par and accrued interest, plus such redemption premium as it shall approve and on such occasions as it may specify in its request for the issuance of such bonds. State school bonds shall not be redeemable before maturity unless they contain a statement to that effect.  HISTORY: 1962 Code Section 21-999.3; 1952 Code Section 21-999.3; 1951 (47) 546.
SC Code § 59-71-490 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 71 - School Bonds|Section 59-71-490. Exemption of bonds from taxes or assessments.

 All State school bonds issued under this article, and the income therefrom, shall be exempt from all State, county, municipal, school district and other taxes or assessments, direct or indirect, general or special, whether imposed for the purpose of general revenue or otherwise.  HISTORY: 1962 Code Section 21-999.4; 1952 Code Section 21-999.4; 1951 (47); 546, 710.
SC Code § 59-71-510 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 71 - School Bonds|Section 59-71-510. Pledge of credit and revenues for payment of bonds.

 For the payment of the principal and interest on all State school bonds at any time issued and outstanding pursuant to this article as now constituted or hereafter amended, there shall be pledged the full faith, credit and taxing power of the State and, in addition thereto, but subject to the provisions of Section 59-71-520, the entire amount of revenue derived from the retail sales tax levied by Chapter 35 of Title 12. The revenues derived from such retail sales tax during each fiscal year shall be discharged from the foregoing pledge when payment or provision for payment has been made for the principal and interest of all State school bonds maturing in such fiscal year and when the requirements of Section 59-71-570 as to payments into the sinking fund have been met.  HISTORY: 1962 Code Section 21-999.6; 1952 Code Section 21-999.6; 1951 (47) 546; 1961 (52) 480; 1967 (55) 719.
SC Code § 59-71-520 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 71 - School Bonds|Section 59-71-520. Revision of retail sales tax not precluded by pledge.

 The pledge of such revenue derived from such retail sales tax shall not preclude the revision of such retail sales tax as to rate or as to the item taxed, either or both, if the State Auditor shall certify that his estimate of the revenue to be derived annually from the tax as thus revised will not be less than one hundred and fifty per cent of that sum which is equal to the maximum annual principal and interest requirements on all State school bonds outstanding or then requested to be issued on the date such certificate bears. Such certificate shall be appended to the enrolled act reducing such tax and be presented to the joint assembly of the General Assembly on the occasion such act is presented for ratification.  HISTORY: 1962 Code Section 21-999.7; 1952 Code Section 21-999.7; 1951 (47) 546.
SC Code § 59-71-530 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 71 - School Bonds|Section 59-71-530. Sale of bonds.

 State school bonds whose proceeds are to be applied exclusively to the purchase of school bus equipment may be privately placed, if the terms and conditions of such disposition shall be approved by resolution duly adopted by the State Fiscal Accountability Authority.  All other State school bonds shall be sold by the Governor and the State Treasurer upon sealed proposals, after publication of notice of such sale one or more times at least ten days before such sale, in a newspaper of general circulation in the State and also in a financial paper published in New York City which regularly publishes notices of sale of state or municipal bonds. The bonds shall be awarded to the highest bidder at a price not less than par and accrued interest to the date of delivery, but the right shall be reserved to reject all bids and to readvertise the bonds for sale.  For the purpose of bringing about successful sales of such bonds, the Board may do all things ordinarily and customarily done in connection with the sale of State or municipal bonds. All expenses incident to the sales of such bonds shall be paid from the proceeds of the sale of such bonds.  HISTORY: 1962 Code Section 21-999.8; 1952 Code Section 21-999.8; 1951 (47) 546; 1956 (49) 1773; 1965 (54) 147.
SC Code § 59-71-540 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 71 - School Bonds|Section 59-71-540. Bonds as lawful investments.

 It shall be lawful for all executors, administrators, guardians and other fiduciaries and all sinking fund commissions to invest any moneys in their hands in State school bonds.  HISTORY: 1962 Code Section 21-999.9; 1952 Code Section 21-999.9; 1951 (47) 546.
SC Code § 59-71-550 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 71 - School Bonds|Section 59-71-550. Disposition of proceeds of sale.

 The proceeds of the sale of State school bonds shall be received by the State Treasurer and placed by him to the credit of the State Board of Education, except that the premium, if any, shall be placed in the sinking fund established by Section 59-71-570 and the accrued interest, if any, shall be used to discharge in part the first interest to become due on such bonds. On the occasion that he receives the proceeds of State school bonds from the purchasers, the State Treasurer shall segregate that part of the proceeds which are intended for allocation to school districts for capital improvements and other purposes from that portion intended for the purchase of school bus equipment, but the purchasers of such bonds shall in no wise be liable for the proper application of the proceeds to the purposes for which they are intended.  The State Board of Education shall in turn credit each of the several school districts with its proportionate share of the proceeds of the bonds applicable to capital improvements and other purposes, each district's share being determined in the ratio of its public school enrollment to the enrollment of the State as a whole.  HISTORY: 1962 Code Section 21-1000; 1952 Code Section 21-1000; 1951 (47) 546; 1967 (55) 719.
SC Code § 59-71-560 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 71 - School Bonds|Section 59-71-560. Use of proceeds; segregation for different uses.

 The proceeds derived from the sale of State school bonds shall be applied by the Board only to the purposes for which the bonds are issued, and, if it shall be provided that a part of the proceeds of an issue of bonds shall be allocated to school districts for capital improvements and other purposes and another part be applied to defray the cost of school bus equipment, the State Treasurer shall, upon the receipt of the proceeds of such bonds, segregate such proceeds in accordance with the provisions of the request made to the Governor and the State Treasurer pursuant to the provisions of Section 59-71-430.  HISTORY: 1962 Code Section 21-1000.1; 1952 Code Section 21-1000.1; 1951 (47) 546; 1967 (55) 719.
SC Code § 59-71-570 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 71 - School Bonds|Section 59-71-570. Sinking fund payments.

 If the annual principal payment on account of outstanding bonds be less than five per cent of the aggregate of all bonds outstanding, there shall be placed in the sinking fund hereby established for the retirement of State school bonds such sum as is the difference between five per cent of the outstanding State school bonds and the amount retired by way of principal of such outstanding bonds during such year. The sinking fund shall be duly apportioned between debt existing by reason of borrowings for advances to the school districts or operating units of the several counties and debt existing by reason of borrowings to defray the cost of acquiring school bus equipment, in the proportion that each bears to the total of State school bonds outstanding.  Notwithstanding the preceding paragraph, the remaining balance in the Sinking Fund as of July first, 1981, shall be remitted to the General Fund of the State.  HISTORY: 1962 Code Section 21-1000.2; 1952 Code Section 21-1000.2; 1951 (47) 546; 1981 Act No. 178, Part II, Section 12.
SC Code § 59-71-580 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 71 - School Bonds|Section 59-71-580. Retail sales tax provisions as part of contract with bondholders.

 The provisions of Chapter 35 of Title 12 levying the retail sales tax and of this article pledging the proceeds thereof to the payment of the principal and interest of State school bonds and to the sinking fund to be established for the retirement of the outstanding principal of the bonds shall be deemed to partake of the obligation of the contract between the State and the holders of the State school bonds.  HISTORY: 1962 Code Section 21-1000.3; 1952 Code Section 21-1000.3; 1951 (47) 546.
SC Code § 59-73-10 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 73 - School Taxes|Section 59-73-10. Additional county taxes shall be determined by electorate.

 Before any additional tax is levied in any county for school purposes, the question of levying such tax shall first be submitted to the qualified electors of such county as provided by law.  HISTORY: 1962 Code Section 21-911; 1952 Code Section 21-911; 1942 Code Section 5426; 1933 (38) 567; 1934 (38) 1340, 1442; 1935 (39) 133; 1937 (40) 113, 220; 1938 (40) 1649.
SC Code § 59-73-20 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 73 - School Taxes|Section 59-73-20. School districts declared tax districts.

 The school districts of the several counties of the State are hereby made and declared to be the divisions of the counties for taxation for all school purposes.  HISTORY: 1962 Code Section 21-912; 1952 Code Section 21-912; 1942 Code Section 5329; 1932 Code Section 5355; Civ. C. '22 Section 2602; Civ. C. '12 Section 1741; Civ. C. '02 Section 1207; 1896 (22) 162.
SC Code § 59-73-30 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 73 - School Taxes|Section 59-73-30. Levy of annual school district tax.

 The voters or electors of any school district who return real or personal property for taxation may levy and collect an annual tax to supplement any special or other tax for like purposes in the manner herein provided.  HISTORY: 1962 Code Section 21-913; 1952 Code Section 21-913; 1942 Code Section 5330; 1932 Code Section 5356; Civ. C. '22 Section 2603; Civ. C. '12 Section 1742; Civ. C. '02 Section 1208; 1896 (22) 162; 1900 (23) 364; 1903 (24) 64; 1906 (25) 111; 1907 (25) 631; 1910 (26) 742; 1915 (29) 100; 1917 (30) 382; 1920 (31) 727, 1084; 1923 (33) 773; 1924 (33) 988; 1925 (34) 157; 1930 (36) 1126; 1934 (38) 1591.
SC Code § 59-73-40 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 73 - School Taxes|Section 59-73-40. Petition for and notice of election.

 Upon the written petition or request of at least one third of the resident electors and a like proportion of the resident freeholders of the age of twenty-one years being filed with the county board of education, asking for the same and stating the rate of tax levy proposed, which shall not exceed fifteen mills, the county board of education shall order the board of trustees of such school district to hold an election at some place within the district, after giving notice of the time and place thereof for at least two weeks in some newspaper published within the county and by posting notice thereof in at least three public places within such school district for such length of time, unless there be no newspaper published within the county, in which event the posting of the notices as above shall suffice.  HISTORY: 1962 Code Section 21-914; 1952 Code Section 21-914; 1942 Code Section 5330; 1932 Code Section 5356; Civ. C. '22 Section 2603; Civ. C. '12 Section 1742; Civ. C. '02 Section 1208; 1896 (22) 162; 1900 (23) 364; 1903 (24) 64; 1906 (25) 111; 1907 (25) 631; 1910 (26) 742; 1915 (29) 100; 1917 (30) 382; 1920 (31) 727, 1084; 1923 (33) 773; 1924 (33) 988; 1925 (34) 157; 1930 (36) 1126; 1934 (38) 1591.