South Carolina General Assembly
116th Session, 2005-2006
A409, R299, S836
STATUS INFORMATION
General Bill
Sponsors: Senator Moore
Document Path: l:\council\bills\nbd\11800ac05.doc
Introduced in the Senate on May 11, 2005
Introduced in the House on May 17, 2005
Last Amended on May 11, 2006
Passed by the General Assembly on May 17, 2006
Became law without Governor's signature, May 25, 2006
Summary: Clark's-Hill Russell Authority
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
5/11/2005 Senate Introduced, read first time, placed on local & uncontested calendar SJ12
5/11/2005 Senate Unanimous consent for second and third readings on next two consecutive legislative days SJ12
5/12/2005 Senate Read second time SJ37
5/12/2005 Scrivener's error corrected
5/13/2005 Senate Read third time and sent to House SJ1
5/17/2005 House Introduced and read first time HJ6
5/17/2005 House Referred to Committee on Ways and Means HJ7
5/10/2006 House Committee report: Favorable with amendment Ways and Means HJ3
5/11/2006 House Amended HJ20
5/11/2006 House Read second time HJ20
5/11/2006 House Unanimous consent for third reading on next legislative day HJ20
5/12/2006 House Read third time and returned to Senate with amendments HJ2
5/17/2006 Senate Concurred in House amendment and enrolled SJ45
5/18/2006 Ratified R 299
5/25/2006 Became law without Governor's signature
5/31/2006 Copies available
5/31/2006 Effective date 05/25/06
10/17/2006 Act No.409
VERSIONS OF THIS BILL
5/11/2005
5/11/2005-A
5/12/2005
5/10/2006
5/11/2006
(A409, R299, S836)
AN ACT TO AMEND JOINT RESOLUTION 210 OF 1987, RELATING TO THE PURCHASE OF NOTES OF THE CLARK’SHILL RUSSELL AUTHORITY BY THE DIVISION OF GENERAL SERVICES OF THE STATE BUDGET AND CONTROL BOARD AND THE INTEREST RATE ON THESE NOTES, SO AS TO CORRECT THE NAME OF THE AUTHORITY TO THE DIVISION OF SAVANNAH VALLEY DEVELOPMENT AND TO PROVIDE THAT THE INTEREST RATE MUST BE DETERMINED PERIODICALLY BY THE STATE TREASURER, RATHER THAN SET AT A RATE OF EIGHT PERCENT PER YEAR.
Be it enacted by the General Assembly of the State of South Carolina:
Division of Savannah Valley Development; notes and interest rates thereon
SECTION 1. Section 1 of Joint Resolution 210 of 1987 is amended to read:
“SECTION 1. The Division of General Services of the State Budget and Control Board through the Insurance Reserve Fund and the State Treasurer shall purchase not more than twenty million dollars of notes of the Division of Savannah Valley Development in amounts not exceeding three million five hundred thousand dollars in any one year for the purpose prescribed in Article 5, Chapter 1, Title 13 of the 1976 Code. The notes of the authority must bear interest at a rate of interest to be determined periodically by the State Treasurer and must be repaid over a term not exceeding thirty years from the date of issuance of a respective series of notes.”
Time effective
SECTION 2. This act takes effect upon approval by the Governor.
Ratified the 18th day of May, 2006.
Became law without the signature of the Governor -- 5/25/06.
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