After January 1, 1986, before any project may be purchased or leased from any municipality, county, agency, political subdivision, or special purpose district for the purpose of providing a project hereunder, the plan for the purchase or lease must be submitted to the applicable council of governments for the preparation of a feasibility report which shall include the fiscal impact of the proposed action on the taxpayers of each taxing authority affected by the project. The report must be submitted to the governing body of the municipality, county, agency, political subdivision, or special purpose district at least thirty days prior to the execution of the final purchase or lease arrangement.
HISTORY: 1985 Act No. 196, Section 3.
Structure South Carolina Code of Laws
Chapter 29 - Industrial Development Projects
Section 4-29-50. Contracts for construction of projects.
Section 4-29-65. Requirement of feasibility report.
Section 4-29-68. Special source revenue bonds.
Section 4-29-69. Inducement agreement providing for payment in lieu of property taxes.
Section 4-29-70. Options in leases; consideration for renewal of lease or purchase of project.
Section 4-29-80. Additional powers of governing boards.
Section 4-29-90. Application of proceeds from sale of bonds; cost of acquiring project.
Section 4-29-110. Refunding bonds.