As a condition precedent to the issuance of general obligation debt pursuant to the provisions of this chapter, the Research Centers of Excellence Review Board shall certify to the state board that at least fifty percent of the cost of each research infrastructure project is being provided by private, federal, municipal, county, or other local government sources. This portion of the cost, in the discretion of the Research Centers of Excellence Review Board, may be in the form of cash; cash equivalent; buildings including sale-lease back; gifts in kind including, but not limited to, land, roads, water and sewer, and maintenance of infrastructure; facilities and administration costs; equipment; or furnishings.
HISTORY: 2004 Act No. 187, Section 9.
Structure South Carolina Code of Laws
Chapter 51 - South Carolina Research University Infrastructure Act
Section 11-51-10. Short title.
Section 11-51-20. Legislative findings and purpose.
Section 11-51-30. Definitions.
Section 11-51-40. Issuance of general obligation debt authorized; limitations.
Section 11-51-50. Maximum annual debt service at time of issuance.
Section 11-51-90. Principal amount of general obligation debt provided on a competitive basis.
Section 11-51-100. Issuance of general obligation debt or anticipation notes.
Section 11-51-120. Maturity, payment, and interest rates.
Section 11-51-130. General obligation debt exempt from taxation.
Section 11-51-140. Executive signature, attestation, and state seal requirements.
Section 11-51-170. Application of sale proceeds; liability of purchaser.
Section 11-51-180. Investment by executors, administrators, and other fiduciaries.
Section 11-51-190. Exemption from state procurement process; alternative procurement procedures.