There is created the Trident Economic Development Finance Authority. The jurisdictional area of the authority shall consist of two or more of the counties of Berkeley, Charleston, and Dorchester which counties qualified electors have each approved their participation in the authority by referendum. The governing body of the authority is a board of not more than seven members whose members shall serve for terms of four years and until their successors are elected and qualify. The governing bodies of Berkeley and Dorchester Counties shall each elect two members of the board and the governing body of Charleston County shall elect three members of the board upon approval of their county's participation by referendum. Vacancies on the board must be filled for the unexpired term in the manner of the original election. The authority is a local political subdivision as contemplated by Section 11-35-310(18).
HISTORY: 1992 Act No. 515, Section 1, eff Sept. 1, 1992; 1992 Act No. 518, Section 1, eff Sept. 2, 1992.
Code Commissioner's Note
Chapter 12 of Title 13, was added by two 1992 Acts; 1992 Act No. 515, Section 1, effective September 1, 1992, and 1992 Act No. 518, Section 1, effective September 2, 1992. At the direction of the Code Commissioner, Chapter 12, as added by 1992 Act No. 518, Section 1, is set out as the latest expression of the intent of the General Assembly.
Editor's Note
1992 Act No. 518 Section 3, eff September 2, 1992, provides as follows:
"The county election commissioners for Berkeley, Dorchester, and Charleston Counties are directed to place on the ballot at the time of the November, 1992, general election the following question:
"Shall there be created a Trident Economic Development Finance Authority which shall have the power, among other things, with the approval of the governing bodies of each of the participating counties in the Berkeley, Dorchester, and Charleston County area, to issue general obligation bonds for the purpose of promoting economic development in the area of the authority?
Yes [] No []
"Those voting in favor of the question shall deposit a ballot with a check or cross mark in the square before the word 'Yes', and those voting against the question shall deposit a ballot with a check or cross mark in the square before the word 'No'.
"If this question receives a majority of the votes cast in two or more of the counties of Charleston, Berkeley, and Dorchester, as certified by the Board of State Canvassers, this act shall be implemented on the date on which written evidence of this fact is transmitted to the Secretary of State."
Structure South Carolina Code of Laws
Title 13 - Planning, Research and Development
Chapter 12 - Trident Economic Development Finance Authority
Section 13-12-15. Referendum in nonparticipating county whether to participate in authority.
Section 13-12-20. Officers of governing board; committees; meetings; quorum.
Section 13-12-30. Rights and powers of board.
Section 13-12-70. Notice requirements with respect to hearing on bond issue.
Section 13-12-80. Public hearing.
Section 13-12-100. Notice of governing bodies' actions; call for election.
Section 13-12-110. Right to challenge action taken by county governing bodies.
Section 13-12-120. Manner of election; majority vote required.
Section 13-12-130. Issuance of bonds following authorization.
Section 13-12-150. Signature and attestation of bonds and interest coupons.
Section 13-12-180. Net earnings of authority not to inure to benefit of person other than authority.
Section 13-12-190. Carryover of unexpended funds from year to year.