Following the close of each state fiscal year, the authority shall submit an annual report of its activities for the preceding year to the Governor and to the General Assembly. Also, the authority shall submit an annual report of any loans or other financial assistance, excluding grants, to the Joint Bond Review Committee. An independent certified public accountant shall perform an audit of the books and accounts of the authority at least once in each state fiscal year.
HISTORY: 2010 Act No. 171, Section 1, eff May 26, 2010; 2014 Act No. 195 (S.812), Section 4, eff June 2, 2014.
Effect of Amendment
2014 Act No. 195, Section 4, add the second sentence, relating to submittal of an annual report.
Structure South Carolina Code of Laws
Chapter 50 - South Carolina Rural Infrastructure Act
Section 11-50-10. Short title.
Section 11-50-20. Legislative findings.
Section 11-50-40. Definitions.
Section 11-50-50. Board of directors; terms; vacancies; compensation.
Section 11-50-55. Director of the authority.
Section 11-50-60. Powers of authority.
Section 11-50-65. Administrative support for State Rural Infrastructure Authority.
Section 11-50-70. Rural Infrastructure Fund capitalization.
Section 11-50-80. Earnings on balances in Rural Infrastructure Fund.
Section 11-50-90. Loans and other financial assistance.
Section 11-50-100. Financing agreements; authorizations; security.
Section 11-50-110. Exempt from taxes and assessments.
Section 11-50-120. Defaults by eligible entities.
Section 11-50-130. Liability of authority, officers, employees, or committees.
Section 11-50-150. Deposit of money of authority; investment of funds.
Section 11-50-160. Annual reports; audit of books and accounts.
Section 11-50-170. Liberal construction; approval of ad valorem property taxes.