reglab/statecodes huggingface dataset:
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 127 - South Carolina State University › Section 59-127-350. Requirements of bonds.

The bonds must be issued as serial bonds, maturing in equal or unequal amounts, at those times and on those occasions, and in denominations as the trustees determine. However, the last maturing bonds of any issue must be expressed to mature not later than twenty years from their date, and the first maturing bonds of any issue must fall due not later than five years from their date. The bonds shall bear a rate of interest, payable on occasions as the trustees prescribe, and must be payable in a medium of payment and at a place as the resolutions prescribe. Bonds may be issued with provisions permitting their redemption before their stated maturity, at a time and under conditions as the trustees prescribe. Bonds made subject to redemption before their stated maturities may contain a provision requiring the payment of a premium for the privilege of exercising the right of redemption, in an amount the trustees prescribe. All bonds that are subject to redemption must contain a statement to that effect on the face or reverse of each bond. A resolution authorizing redeemable bonds must contain provisions specifying the manner of call and the notice that must be given.
HISTORY: 1992 Act No. 514, Section 7.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 127 - South Carolina State University › Section 59-127-360. Registration of bonds.

The bonds may be in the form of fully registered bonds, payable to the registered owner as shown on the books of the treasurer of the university, or on registry books kept for the university by the State Treasurer or by any corporate registrar, upon conditions the trustees prescribe.
HISTORY: 1992 Act No. 514, Section 8.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 127 - South Carolina State University › Section 59-127-380. Persons who may lawfully invest in bonds.

It is lawful for all executors, administrators, guardians and fiduciaries, and all sinking fund commissions to invest any monies in their hands in the bonds.
HISTORY: 1992 Act No. 514, Section 10.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 127 - South Carolina State University › Section 59-127-390. Execution and delivery of bonds.

The bonds must be executed in the name of the university in a manner and by those persons the trustees determine, and the seal of the university must be reproduced, affixed to, or impressed on each bond. The delivery of the bonds so executed is valid notwithstanding changes in officers or seal occurring after the execution and before the delivery.
HISTORY: 1992 Act No. 514, Section 11.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 127 - South Carolina State University › Section 59-127-400. Sale of bonds.

All bonds must be disposed of in a manner the trustees determine, except that a sale, privately negotiated without public advertisement, must not be made unless the approval of the State Fiscal Accountability Authority is obtained.
HISTORY: 1992 Act No. 514, Section 12; 1997 Act No. 103, Section 3.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 127 - South Carolina State University › Section 59-127-410. Disposition of proceeds of sale of bonds.

The proceeds of all bonds must be delivered to the State Treasurer and retained in a special fund or funds and applied solely to the purposes for which the bonds are issued. Withdrawals from the Debt Service Fund must be made on the order or requisition of the university and must be in a manner the State Treasurer prescribes. The State Treasurer may make temporary investments of funds derived from the proceeds of bonds in obligations enumerated in Section 11-9-660 with maturities consonant with the need for the funds.
HISTORY: 1992 Act No. 514, Section 13.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 127 - South Carolina State University › Section 59-127-420. Authorization of special fees for repayment of bonds.

To provide for the adequate payment of the principal of and interest on the bonds, the trustees are authorized to place into effect either the admission fee or the special student fee, or both. If only one of the fees is imposed at the time the bonds are issued, the trustees, at any time the bonds are outstanding, by resolution, may impose the other fee to further secure payment of the bonds. The fees must be established on a basis and in an amount necessary to provide for the payment of the principal and interest on the bonds as they mature and to provide cushion or reserve for them in the Debt Service Fund that the trustees consider prudent. Either the admission fee or the special student fee, or both, may be imposed as soon after the effective date of this article as the trustees determine. It is the duty of the trustees to calculate the debt service requirements of the bonds not less frequently than annually and at that time, appropriate revisions of the admission fee or the special student fee, or both, may be made if required to make adequate provisions for the payment of principal and interest on the bonds and the maintenance of the cushion or reserve in the fund.
The special student fee must bear nomenclature as the trustees prescribe and, in the discretion of the trustees, it may be included as a part of any other fees. However, it is the duty of the trustees to account for the receipts from the special student fee to the State Treasurer.
HISTORY: 1992 Act No. 514, Section 14.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 127 - South Carolina State University › Section 59-127-430. Disposition of monies from other sources for repayment of bonds.

Except to the extent other monies are restricted inconsistent with these provisions, the trustees are empowered to deposit, in the Debt Service Fund, before the issuance of any bonds, monies derived from other sources, including funds raised by the athletic department of the university. They also are empowered throughout the life of the bonds to make payments from these other sources to the fund, and in calculating the amount or rate of the admission fee or the special student fee, or both, for any year, they may take into account all monies then actually paid to the fund from the other sources which then are available to meet the payment of the principal and interest on the bonds for the year.
HISTORY: 1992 Act No. 514, Section 15.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 127 - South Carolina State University › Section 59-127-440. Powers of trustees in authorizing issuance of bonds.

In the resolutions authorizing the issuance of the bonds, the trustees are empowered to:
(1) covenant and agree throughout the life of the bonds that the admission fee or the special student fee, or both, are imposed, maintained, and revised when necessary, in an amount, without limitation as to rate, as is sufficient, when added to net athletic revenues in any year, to meet the payment of the principal and interest for the bonds as they become due, and to create a cushion or reserve fund as the trustees consider prudent. The cushion or reserve must be used only to meet the payment of the principal and interest on the bonds under the conditions as the trustees prescribe and must be maintained in a manner as to insure its availability for repayment;
(2) establish the Debt Service Fund, which must be maintained at the hands of the State Treasurer;
(3) covenant that all revenues derived from the admission fee or the special student fee, or both, are paid to the State Treasurer for deposit in the fund in a manner prescribed by the State Treasurer;
(4) establish appropriate rules requiring the payment of the admission fee or the special student fee, or both;
(5) covenant as to the use of the proceeds of the sale of the bonds;
(6) provide for the terms, form, registration, exchange, execution and authentication of bonds, and for the replacement of lost, destroyed, or mutilated bonds;
(7) covenant for the mandatory redemption of bonds on terms and conditions as the resolutions authorizing the bonds prescribe;
(8) prescribe the procedure, if any, by which the terms of the contract with the bondholders may be amended, the number of bonds whose holders must consent to amendment, and the manner in which the consent is given;
(9) covenant to insure the football stadium against loss by fire or other casualty;
(10) operate and maintain the football stadium in good repair;
(11) prescribe the events of default and the terms and conditions upon which all or any bonds are or may be declared due before maturity, and the terms and conditions upon which the declaration and its consequences may be waived;
(12) reserve the right to issue additional bonds payable from the sources provided in this article for the payment of the bonds pursuant to Section 59-127-460 or to the extent to which the trustees may become authorized to issue additional bonds by legislation enacted, if it is necessary in the future to further enlarge or improve the football stadium and to prescribe the conditions under which additional bonds may be issued; and
(13) make further covenants and agreements as necessary or desirable in order to market the bonds.
HISTORY: 1992 Act No. 514, Section 16; 1997 Act No. 103, Section 4.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 127 - South Carolina State University › Section 59-127-450. Responsibilities of State Treasurer.

The State Treasurer is authorized to accept custody of receipts and revenues derived from the imposition of the admission fee and any special student fee imposed by the trustees, to deposit them in the Debt Service Fund, and to utilize the proceeds of the fund for the payment of the principal and interest on the bonds and for the establishment of a cushion or reserve for their payment. The trustees shall make adequate provisions for the transmission of the revenues derived from the fees to the State Treasurer in a manner prescribed by the State Treasurer. Monies in the fund may be invested and reinvested by the State Treasurer in obligations enumerated in Section 11-9-660, with maturities consonant with the needs of the fund.
HISTORY: 1992 Act No. 514, Section 17.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 127 - South Carolina State University › Section 59-127-460. Authority of trustees to issue additional bonds; purposes for which additional bonds may be issued.

The trustees are authorized to issue additional bonds in one or more series as provided in the resolutions authorizing the original series of bonds for the purpose of refunding or retiring the bonds or for the purpose of enlarging or improving the football stadium.
HISTORY: 1992 Act No. 514, Section 18; 1997 Act No. 103, Section 5.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 127 - South Carolina State University › Section 59-127-470. Feasibility study.

There is established a committee to study the feasibility and need for a School of Law at the South Carolina State University in Orangeburg. This committee shall consist of nine members as follows:
(1) three to be appointed by the President of the Senate;
(2) three to be appointed by the Speaker of the House; and
(3) three to be appointed by the Legislative Black Caucus.
These members are to be appointed no later than July 1, 2004. The senior member of the Legislative Black Caucus is to call the first meeting of the committee no later than July 15, 2004, and is to serve as chairman until such time as the committee elects a chairman. This committee is to produce a report to be provided to the members of the General Assembly and the Governor no later than December 31, 2004. The report is to address the following:
(1) feasibility of having a law school at South Carolina State University;
(2) need for additional attorneys in the State of South Carolina;
(3) cost of implementation; and
(4) impact to the economy.
HISTORY: 2004 Act No. 187, Section 19, eff March 17, 2004.
Editor's Note
2019 Act No. 1, Section 97, provides as follows:
"SECTION 97. The Code Commissioner is directed to change all references to 'President Pro Tempore', 'President Pro Tempore of the Senate', or 'President of the Senate Pro Tempore' not specifically addressed in this act to 'President of the Senate'."
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 127 - South Carolina State University › Section 59-127-490. Definitions.

As used in this article:
(1) "Board" means the Board of Trustees of South Carolina State University.
(2) "Equipment" means items with a useful life of at least fifteen years.
(3) "Academic and administrative buildings" means the real and personal property and equipment to be utilized by the College of Engineering, Science and Mathematics, the College of Education, Humanities and Social Science, and the College of Business and Applied Professional Sciences, whether or not the acquisition or construction of these facilities are financed from the proceeds of bonds, notes, or other indebtedness issued pursuant to the provisions of this article.
(4) "Fees and revenues" means the special student fees, auxiliary fees, and revenues derived or to be derived from the operation, sale, lease, or other disposition of the facilities.
(5) "University" means South Carolina State University.
HISTORY: 2005 Act No. 44, Section 1, eff May 3, 2005.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 127 - South Carolina State University › Section 59-127-500. Power to issue facilities improvement bonds

Subject to the approval of the Joint Bond Review Committee and the State Fiscal Accountability Authority or Department of Administration, as appropriate, by resolution adopted, the university may issue bonds, notes, or other forms of indebtedness for the purpose of financing or refinancing in whole or in part the cost of acquisition, construction, reconstruction, renovation, and improvement of land, buildings, and other improvements to real property and equipment for the purpose of providing certain academic and administrative buildings as defined in this article serving the needs of the university.
HISTORY: 2005 Act No. 44, Section 1, eff May 3, 2005.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 127 - South Carolina State University › Section 59-127-520. Form and content of bonds; negotiability.

Bonds, notes, and other forms of indebtedness may be issued in one or more series at those prices, may bear the date, may mature at the time, not exceeding forty years from their respective date, may bear interest at the fixed or variable rate, may be payable in the medium of payment and at the place, may be in the denomination, may be in the form, either coupon or registered and either certified or uncertified, may carry the registration privileges, may be subject to the terms of redemption before maturity, with or without premium, and may contain terms, covenants, and conditions as the resolution authorizing the issuance of the bonds, notes, and other forms of indebtedness may provide. Except as otherwise specified in the authorizing resolution, the bonds, notes, and other forms of indebtedness are fully negotiable within the meaning of and for all the purposes of the Uniform Commercial Code.
HISTORY: 2005 Act No. 44, Section 1, eff May 3, 2005.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 127 - South Carolina State University › Section 59-127-540. Signature and seal.

The bonds, notes, and other forms of indebtedness must be signed in the corporate name of the university by the manual or facsimile signature of the acting chairman of the board of the university, under the corporate seal of the university attested by the manual or facsimile signature of the acting secretary of the board. Interest coupons attached to the bonds, notes, and other forms of indebtedness must be signed by the facsimile signatures of these officers. The bonds, notes, and other forms of indebtedness may be issued notwithstanding that any of the officials signing them or whose facsimile signatures appear on the coupons have ceased to hold office at the time of the issue or at the time of the delivery of the bonds, notes, and other forms of indebtedness to the purchaser.
HISTORY: 2005 Act No. 44, Section 1, eff May 3, 2005.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 127 - South Carolina State University › Section 59-127-550. Terms and conditions of sale.

The bonds, notes, and other forms of indebtedness must be sold at public or private sale upon the terms and conditions as the board of the university considers advisable.
HISTORY: 2005 Act No. 44, Section 1, eff May 3, 2005.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 127 - South Carolina State University › Section 59-127-560. Filing description of obligations with State Treasurer.

The board or its proper administrative officers shall file with the State Treasurer within thirty days from the date of their issuance a complete description of all obligations entered into by the board, with the rates of interest, maturity dates, annual payments, and all pertinent data.
HISTORY: 2005 Act No. 44, Section 1, eff May 3, 2005.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 127 - South Carolina State University › Section 59-127-570. Enforcement rights.

All provisions of a resolution authorizing or providing for the issuance of the bonds, notes, and other forms of indebtedness in accordance with Section 59-127-500 and of the covenants and agreements constitute valid and legally binding contracts between the university and the several holders of the bonds, notes, and other forms of indebtedness, regardless of the time of issuance of the bonds, notes, and other forms of indebtedness, and are enforceable by the holder or holders by mandamus or other appropriate action, suit, or proceeding at law or in equity in a court of competent jurisdiction.
HISTORY: 2005 Act No. 44, Section 1, eff May 3, 2005.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 127 - South Carolina State University › Section 59-127-580. Revenue sources for payment; liability of board members.

The bonds, notes, and other forms of indebtedness must be made payable only from all or the portion of the fees and revenues as the university in its discretion may designate pursuant to the authorizing resolution and also from other available funds of the university designated by the university pursuant to the authorizing resolution except funds of the university derived from appropriations received from the General Assembly and tuition funds pledged to the repayment of state institution bonds, notes, and other forms of indebtedness. The use of academic fees must be approved by the university's board. The bonds, notes, and other forms of indebtedness are not general obligations of the State. Neither the members of the board nor a person signing the bonds, notes, and other forms of indebtedness is liable personally for the bonds, notes, and other forms of indebtedness. Bonds, notes, and other forms of indebtedness may not be issued pursuant to the provisions of this article unless an identified source of revenue is designated for the repayment of the bonds, notes, and other forms of indebtedness.
HISTORY: 2005 Act No. 44, Section 1, eff May 3, 2005.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 129 - Palmer College › Section 59-129-10. Palmer College declared State institution.

Palmer College, which was merged into the State Technical and Comprehensive Education System on July 1, 1973, is hereby declared to be a State educational institution under the jurisdiction of the State Board of Technical and Comprehensive Education as of July 1, 1973, with all such privileges and immunities as attach thereto.
HISTORY: 1962 Code Section 22-561; 1974 (58) 2621.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 129 - Palmer College › Section 59-129-20. Retirement benefits for employees.

Any employee of Palmer College, or any other State employee, on July 2, 1974, who was as of July 1, 1973, an employee of Palmer College may avail himself of prior service credits under the South Carolina Retirement System in accordance with the provisions of Section 9-1-860. Provided, however, that such prior service credits shall not be extended if to do so would adversely affect the tax-exempt status of the South Carolina Retirement System plan.
HISTORY: 1962 Code Section 22-562; 1974 (58) 2621.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 130 - The College Of Charleston › Section 59-130-35. Authorization to sell Remley's Point; use of certain appropriated funds; use of proceeds from sale.

(A) Pursuant to item (4) of Section 59-130-30, the board of trustees of the College of Charleston, with the consent of the Budget and Control Board, is authorized to sell Remley's Point which it owns in Charleston County during fiscal year 1997-98 or thereafter for such price and under such terms and conditions as the board considers appropriate. The funds appropriated to the college for other operating expenses on line 13, Section 18E, Part I of this act, after this property is sold shall be used by the college for the purpose of acquiring through lease or purchase additional real and personal property in Charleston County which shall be used for athletic, intramural, or sports programs of the college. The proceeds derived from this sale shall be retained by the college and used to reimburse the appropriation which was used as provided above to fund this purchase.
(B) Remley's Point for purposes of this section is described as follows:
"All that certain piece, parcel or tract of land, situate, lying and being in Christ Church Parish in the County of Charleston, State aforesaid, containing 17.32 acres of highland and 15 acres of marshlands, be the same more or less, more particularly shown and delineated on a plat thereof entitled 'Plat of 17.32 acres in Christ Church Parish, Charleston County, State aforesaid conveyed by the Estates of W. A. Leland and W. R. Bonsal to the College of Charleston', surveyed August 6, 1975, by W. L. Gaillard, Surveyor."
The property is further identified on Charleston County Tax Map 514-05-00 as parcel number 6.
HISTORY: 1997 Act No. 155, Part II, Section 31A.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 130 - The College Of Charleston › Section 59-130-40. Meetings of board.

The board shall meet in Charleston not less than four times each year, the time and place to be fixed by the chairman or as the board provides. The chairman shall preside and, in his absence, a member shall preside as the board may select. The chairman or a majority of the members has the power to call a special meeting and fix the time and place of the meeting. A majority of the members constitutes a quorum for the transaction of all business of the board. A majority vote of the whole board is required for the election or removal of the president. The president, other officers, and faculty members shall attend meetings of the board when requested to do so.
Notice of the time and place of all meetings of the board must be mailed by the secretary or his assistant to each trustee not less than five days before each meeting.
HISTORY: 1988 Act No. 510, Section 1.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 130 - The College Of Charleston › Section 59-130-50. Authority to sell or lease donated real property.

Upon approval of the State Fiscal Accountability Authority or Department of Administration, as appropriate, the board is authorized to lease or sell any real property which may have been or may be donated to the college during any fund campaign. The proceeds of any lease or sale must be applied to the original purpose of the donation of the property leased or sold.
HISTORY: 1988 Act No. 510, Section 1.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 130 - The College Of Charleston › Section 59-130-60. Board authority to enter ground lease agreements.

The Board of Trustees of the College of Charleston with the approval of the Department of Administration or State Fiscal Accountability Authority, as appropriate, may enter into lease agreements with a private entity whereby the private entity will provide all services necessary for the creation and operation of student housing facilities including, but not limited to, ground leasing, financing, designing, construction, managing, operating, maintaining, and related services. Upon expiration of the agreement term, the private entity shall surrender to the College of Charleston, such premises with the existing buildings, other structures and improvements constructed and located thereon and therein, in the same condition as when the construction of the buildings, other structures, and improvements were completed, only natural and normal wear and tear excepted. The Department of Administration or State Fiscal Accountability Authority, as appropriate, first must approve all agreement terms and conditions including the consideration involved, and the full faith and credit of the State toward the lease obligations must not be pledged, and any statement to the contrary is deemed null and void as a matter of public policy. The private entity may be a nonprofit organization. The Department of Administration or State Fiscal Accountability Authority, as appropriate, approval required shall be in lieu of or a substitute for any other approval required by any other provision of law or regulation in connection with the undertaking of the private entity and the College of Charleston; however, the private entity and the College of Charleston shall adhere to fire, life, and safety codes as required by the Office of State Engineer.
Neither this section, nor the approval required by this section, exempts any transaction or entity from complying with Chapter 35 of Title 11.
HISTORY: 2001 Act No. 63, Section 3; 2008 Act No. 275, Section 6, eff June 5, 2008.
Effect of Amendment
The 2008 amendment added the second undesignated paragraph relating to compliance with the Procurement Code.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 130 - The College Of Charleston › Section 59-130-220. Authority to issue revenue bonds.

The College of Charleston, in this article referred to as the college, may issue revenue bonds of the college for the purpose of financing or refinancing in whole or in part the cost of construction, reconstruction, improvement, and equipment of buildings for the purposes of the college, including, without limiting the generality of the foregoing, dormitories, apartment buildings, dwelling houses, dining halls, cafeterias, parking facilities, sports facilities, and inns or for any one or more of these purposes.
HISTORY: 1992 Act No. 350, Section 1.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 130 - The College Of Charleston › Section 59-130-240. Revenue bonds.

Revenue bonds may be issued in one or more series, may bear such date or dates, may mature at such time or times, not exceeding forty years from their respective dates, may bear interest at such rate or rates, may be payable in such medium of payment and at such place or places, may be in such denomination or denominations, may be in such form, either coupon or registered, may carry such registration privileges, may be subject to such terms of redemption before maturity, with or without premium, and may contain such terms, covenants, and conditions as the resolution authorizing the issuance of the bonds may provide. The bonds must be fully negotiable within the meaning of and for all the purposes of the Uniform Commercial Code.
HISTORY: 1992 Act No. 350, Section 1.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 130 - The College Of Charleston › Section 59-130-260. Bonds to be signed.

The bonds must be signed in the corporate name of the college by the chairman of the board of trustees of the college, under the corporate seal of the college attested by the secretary of the board of trustees. Interest coupons attached to the bonds must be signed by the facsimile signatures of these officers. The bonds may be issued notwithstanding that any of the officials signing them or whose facsimile signatures appear on the coupons have ceased to hold office at the time of the issue or at the time of the delivery of the bonds to the purchaser.
HISTORY: 1992 Act No. 350, Section 1.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 130 - The College Of Charleston › Section 59-130-280. Board to file description of obligations entered with State Treasurer.

The board of trustees or its proper administrative officers shall file with the State Treasurer within thirty days from the date of their issuance a complete description of all obligations entered into by the board, with the rates of interest, maturity dates, annual payments, and all pertinent data.
HISTORY: 1992 Act No. 350, Section 1.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 130 - The College Of Charleston › Section 59-130-290. Resolutions, covenants, and agreements constitute binding and enforceable contracts.

All provisions of a resolution authorizing or providing for the issuance of the bonds in accordance with Section 59-130-230 and of the covenants and agreements constitute valid and legally binding contracts between the college and the several holders of the bonds, regardless of the time of issuance of the bonds, and is enforceable by the holder or holders by mandamus or other appropriate action, suit, or proceeding at law or in equity in any court of competent jurisdiction.
HISTORY: 1992 Act No. 350, Section 1.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 130 - The College Of Charleston › Section 59-130-300. Repayment of bonds; bonds not obligations of state.

The bonds must be made payable solely from the revenues derived by the college from the operation of the building or equipment for which the bonds are issued or, in the discretion of the board of trustees of the college, from the revenues and also from any other revenues of the college except revenues derived from appropriations received from the General Assembly. The bonds are not obligations of the State.
HISTORY: 1992 Act No. 350, Section 1.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 130 - The College Of Charleston › Section 59-130-420. Definitions.

As used in this article:
(1) "Board" means the board of trustees of the College of Charleston.
(2) "Equipment" means items with a useful life of at least fifteen years.
(3) "Academic and administrative buildings" means the real and personal property and equipment to be utilized by the School of the Arts, the School of Education, the School of Science and Mathematics, the Physical Education/Arena Complex, and the Student Center, whether or not the acquisition or construction of these facilities are financed from the proceeds of bonds issued pursuant to the provisions of this article.
(4) "Fees and revenues" means the special student fees and revenues derived or to be derived from the operation, sale, lease, or other disposition of the facilities.
(5) "University" means the College of Charleston.
HISTORY: 2004 Act No. 173, Section 1, eff February 18, 2004.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 130 - The College Of Charleston › Section 59-130-430. Authority to issue bonds; purpose.

Subject to the approval of the State Fiscal Accountability Authority or the Department of Administration, as appropriate, by resolution adopted, the university may issue bonds of the university for the purpose of financing or refinancing in whole or in part the cost of acquisition, construction, reconstruction, renovation and improvement of land, buildings, and other improvements to real property and equipment for the purpose of providing certain academic and administrative buildings as defined in this article serving the needs of the university.
HISTORY: 2004 Act No. 173, Section 1, eff February 18, 2004.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 130 - The College Of Charleston › Section 59-130-450. Bond provisions as to maturity, interest, redemption, etc.; negotiability.

Bonds may be issued in one or more series at those prices, may bear the date or dates, may mature at the time or times, not exceeding forty years from their respective date, may bear interest at the fixed or variable rate or rates, may be payable in the medium of payment and at the place or places, may be in the denomination or denominations, may be in the form, either coupon or registered and either certified or uncertified, may carry the registration privileges, may be subject to the terms of redemption before maturity, with or without premium, and may contain terms, covenants, and conditions as the resolution authorizing the issuance of the bonds may provide. Except as otherwise specified in the authorizing resolution, the bonds are fully negotiable within the meaning of and for all the purposes of the Uniform Commercial Code.
HISTORY: 2004 Act No. 173, Section 1, eff February 18, 2004.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 130 - The College Of Charleston › Section 59-130-470. Signing of bonds; corporate seal of university; attestation; signing of interest coupons.

The bonds must be signed in the corporate name of the university by the manual or facsimile signature of the acting chairman of the board of the university, under the corporate seal of the university attested by the manual or facsimile signature of the acting secretary of the board. Any interest coupons attached to the bonds must be signed by the facsimile signatures of these officers. The bonds may be issued notwithstanding that any of the officials signing them or whose facsimile signatures appear on the coupons have ceased to hold office at the time of the issue or at the time of the delivery of the bonds to the purchaser.
HISTORY: 2004 Act No. 173, Section 1, eff February 18, 2004.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 130 - The College Of Charleston › Section 59-130-490. Description of obligations entered into by board to be filed with State Treasurer.

The board or its proper administrative officers shall file with the State Treasurer within thirty days from the date of their issuance a complete description of all obligations entered into by the board, with the rates of interest, maturity dates, annual payments, and all pertinent data.
HISTORY: 2004 Act No. 173, Section 1, eff February 18, 2004.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 130 - The College Of Charleston › Section 59-130-500. Resolutions, covenants, and agreements constitute binding and enforceable contracts.

All provisions of a resolution authorizing or providing for the issuance of the bonds in accordance with Section 59-130-440 and of the covenants and agreements constitute valid and legally binding contracts between the university and the several holders of the bonds, regardless of the time of issuance of the bonds, and are enforceable by the holder or holders by mandamus or other appropriate action, suit, or proceeding at law or in equity in any court of competent jurisdiction.
HISTORY: 2004 Act No. 173, Section 1, eff February 18, 2004.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 130 - The College Of Charleston › Section 59-130-510. Repayment of bonds; bonds not obligation of state or signator of bond.

The bonds must be made payable only from all or the portion of the fees and revenues as the university in its discretion may designate pursuant to the authorizing resolution and also from any other available funds of the university designated by the university pursuant to the authorizing resolution except funds of the university derived from appropriations received from the General Assembly and any tuition funds pledged to the repayment of state institution bonds. The use of academic fees must be approved by the university's board. The bonds are not general obligations of the State. Neither the members of the board nor any person signing the bonds is liable personally for the bonds. Bonds may not be issued pursuant to the provisions of this article unless an identified source or sources of revenue are designated for the repayment of the bonds.
HISTORY: 2004 Act No. 173, Section 1, eff February 18, 2004.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 131 - Parking Facilities At The College Of Charleston › Section 59-131-10. Parking facilities authorized.

Subject to the conditions of this chapter, the board of trustees for the College of Charleston is authorized to:
(a) provide parking facilities, including one or more multilevel parking garage facilities, on its properties, acquired at the college and on property in the vicinity of the college leased by the City of Charleston to the State for not less than ninety-nine years under the terms and conditions of an agreement between the city and the board providing for the operation and maintenance of the parking facilities to be constructed on the property;
(b) promulgate regulations concerning the use of the facilities, including regulations requiring those who undertake to park motor vehicles on the properties of the board to utilize the facilities;
(c) to establish and maintain, and revise, whenever necessary, a schedule of rates and charges for the use of the facilities which must be designed to provide not less than the sums required to pay principal and interest of any bonds authorized pursuant to this chapter.
HISTORY: 1975 (59) 79; 1981 Act No. 26, Section 2; 1988 Act No. 510, Section 8.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 131 - Parking Facilities At The College Of Charleston › Section 59-131-20. Bond issue authorized upon approval.

If the approval of the State Fiscal Accountability Authority or the Department of Administration, as appropriate, is obtained and expressed by a resolution adopted by the State Fiscal Accountability Authority or the Department of Administration, as appropriate, the trustees of the College shall be authorized to issue, from time to time, bonds of the trustees, payable from the revenues required by this chapter to be pledged therefor, in such amount as the trustees and the State Fiscal Accountability Authority or the Department of Administration, as appropriate, shall approve.
HISTORY: 1975 (59) 79.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 131 - Parking Facilities At The College Of Charleston › Section 59-131-25. Use of proceeds of bonds.

The proceeds of bonds issued pursuant to this chapter shall be deposited with the State Treasurer and used to defray all or a part of the cost of acquiring and constructing the parking facilities authorized in this chapter and to defray the cost of issuing such bonds.
HISTORY: 1981 Act No. 26, Section 3.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 131 - Parking Facilities At The College Of Charleston › Section 59-131-30. Bonds payable solely from revenues of parking facilities.

All bonds issued pursuant to this chapter are payable from the revenues derived from all parking facilities which the board of trustees for the College of Charleston may possess at the college, including parking facilities on property leased to the State under the terms and conditions of an agreement described in Section 59-131-10(a), and the revenues must be pledged to the payment of the principal and interest of the bonds in the manner provided in this chapter. The board may, in its discretion, determine with respect to each parking facility to pledge either the entire revenues derived from the parking facility or the revenues derived from the parking facility remaining after defraying the cost of operation and maintenance of the parking facility. In the issuance of the bonds, the trustees may reserve the right to issue additional bonds payable from the revenues and on a parity with the bonds authorized by this chapter, whether issued pursuant to this chapter or pursuant to any other provision of law.
HISTORY: 1975 (59) 75; 1981 Act No. 26, Section 4; 1988 Act No. 510, Section 9.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 131 - Parking Facilities At The College Of Charleston › Section 59-131-40. Full faith and credit of State not pledged for payment of bonds.

The faith and credit of the State of South Carolina shall not be pledged for the payment of the principal and interest of such bonds, and there shall be on the face of each bond a statement plainly worded, to that effect. Neither the trustees nor any other person signing the bonds shall be personally liable thereon.
HISTORY: 1975 (59) 79.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 131 - Parking Facilities At The College Of Charleston › Section 59-131-50. Provisions of resolution concerning bonds.

In order to avail themselves of the authorizations set forth in this chapter, the trustees shall adopt resolutions providing for the issuance of the bonds within the limitations herein mentioned, which resolutions shall prescribe the tenor, terms and conditions of such bonds. Such bonds shall be issued as serial bonds, maturing in equal or unequal amounts, at such times and on such occasions as the trustees shall determine. Provided, always, that the last maturing bonds of any issue shall be expressed to mature not later than forty years from their date, and the first maturing bonds of any issue, issued pursuant to this chapter, shall fall due within five years from their date. They shall bear such rates of interest, payable on such occasion, as the trustees shall prescribe, and the bonds shall be in such denominations, shall be payable in such medium of payment, and at such place as such resolutions shall prescribe. All bonds maturing subsequent to fifteen years from their date shall be subject to redemption not later than fifteen years from their date, and on all subsequent interest payment dates prior to their respective maturities. All bonds may be issued with a provision permitting their redemption on any interest payment date prior to their respective maturities. Bonds made subject to redemption prior to their stated maturities may contain a provision requiring the payment of a premium for the privilege of exercising the right of redemption, in such amount as the trustees shall prescribe in the resolutions authorizing their issuance. All bonds that are subject to redemption shall contain a statement to that effect on the face of each bond. The resolution authorizing their issuance shall contain provisions, specifying the manner of call and the notice of call that must be given.
HISTORY: 1975 (59) 79.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 131 - Parking Facilities At The College Of Charleston › Section 59-131-60. Negotiability and registration.

Such bonds may be in the form of negotiable coupon bonds, payable to bearer, with the privilege to the holder of having them registered and upon such conditions in such manner as the trustees shall prescribe, and the principal thus made payable to the registered holder, unless the last registered transfer shall have been to bearer, or such bonds may be issued as fully registered bonds. If issued as fully registered bonds, it may be provided that they may thereafter be converted into negotiable coupon bonds of the tenor described above.
HISTORY: 1975 (59) 79.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 131 - Parking Facilities At The College Of Charleston › Section 59-131-80. Bonds as lawful investments.

It shall be lawful for all executors, administrators, guardians and fiduciaries, all sinking fund commissions, and the State Board, as Trustee of the South Carolina Retirement System, to invest any moneys in their hands in such bonds.
HISTORY: 1975 (59) 79.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 131 - Parking Facilities At The College Of Charleston › Section 59-131-90. Execution of bonds.

Such bonds and the coupons, if any, attached to such bonds, shall be executed in the name of the trustees in such manner and by such persons as the trustees shall from time to time determine, and the seal of the College shall be affixed to or impressed on each bond. Any coupons attached to such bonds shall be authenticated by the facsimile signature of one or more of the persons signing the bonds. The delivery of the bonds so executed shall be valid notwithstanding changes in officers or seal occurring after such execution.
HISTORY: 1975 (59) 79.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 131 - Parking Facilities At The College Of Charleston › Section 59-131-100. Sales of bonds.

The bonds shall be disposed of in such manner as the trustees shall determine, except that no sale shall be made unless the approval of the State Board shall be obtained. If the trustees shall elect to sell the bonds at public sale, at least one advertisement thereof shall appear in some newspaper of general circulation in South Carolina not less than ten days prior to the occasion fixed for the opening of bids.
HISTORY: 1975 (59) 79.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 131 - Parking Facilities At The College Of Charleston › Section 59-131-120. No time limit on issuance of bonds.

The authorizations granted by this chapter shall remain of full force and effect until rescinded by subsequent enactment, and no time limit is set for the issuance of bonds pursuant to this chapter.
HISTORY: 1975 (59) 79.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 133 - Francis Marion University › Section 59-133-15. Francis Marion College changed to Francis Marion University.

Francis Marion College is changed to Francis Marion University, effective July 1, 1992, and wherever in the 1976 Code or in any other provision of law the name Francis Marion College appears, it must be construed to mean Francis Marion University.
HISTORY: 1992 Act No. 272, Section 5; 2008 Act No. 355, Section 8, eff June 25, 2008.
Effect of Amendment
The 2008 amendment reenacted this section with no apparent change.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 133 - Francis Marion University › Section 59-133-20. Compensation of board members.

Members of the board are entitled to subsistence, per diem, and mileage authorized for members of state boards, committees, and commissions.
HISTORY: 1988 Act No. 510, Section 2; 2008 Act No. 355, Section 8, eff June 25, 2008.
Effect of Amendment
The 2008 amendment reenacted this section with no apparent change.
2023 South Carolina Code of Laws › Title 59 - Education › Chapter 133 - Francis Marion University › Section 59-133-40. Meetings of board.

The board shall meet not less than four times each year, the time and place to be fixed by the chairman or as the board provides. The chairman shall preside and, in his absence, a member shall preside as the board may select. The chairman or a majority of the members has the power to call a special meeting and fix the time and place of the meeting. A majority of the members constitutes a quorum for the transaction of all business of the board. A majority vote of the whole board is required for the election or removal of the president. The president, other officers, and faculty members shall attend meetings of the board when requested to do so.
Notice of the time and place of all meetings of the board must be mailed by the secretary or his assistant to each trustee not less than five days before each meeting.
HISTORY: 1988 Act No. 510, Section 2; 2002 Act No. 320, Section 2; 2008 Act No. 355, Section 8, eff June 25, 2008.
Effect of Amendment
The 2008 amendment reenacted this section with no apparent change.