For purposes of this section:
(A) "JBRC" means the Joint Bond Review Committee.
(1) Prior to issuing any (1) bonds, (2) notes, or (3) other indebtedness, including any refinancing that does not achieve a savings in total debt service, the JBRC must approve, reject, or modify the issuance by the Authority. This section does not apply to the issuance of short-term or revolving-credit debt for the management of day-to-day operations and financing needs.
(2) If the JBRC does not take action on the issuance within sixty days, the issuance is considered approved.
(3) Issuance approved by the JBRC need not be issued immediately, and the debt may be issued across multiple series and over a three-year term.
(B)(1) By September first of each year, the Authority shall provide an annual report regarding every transaction involving an interest in real property and executed during the preceding twelve months, including:
(a) a summary of the key terms of all contracts effectuating or related to such transactions; and
(b) parties involved in the transaction, including all entities or persons with any type of ownership interest or authority to control.
(2) A transfer of any interest in real property by the Authority, regardless of the value of the transaction, requires approval, rejection, or modification by the JBRC.
(3) The reporting and other requirements of this item do not apply to encroachment agreements, rights of way, or lease agreements made by the Authority for property within the Federal Energy Regulatory Project boundary.
(C) The JBRC may adopt instructions which must be followed by the Authority for any submission pursuant to this section.
(D) The requirements imposed on the Authority pursuant to this section are in addition to any other requirements of law. If any provision of this section conflicts with another provision of law, the provisions of this section shall control to the extent of the conflict.
HISTORY: 2021 Act No. 90 (H.3194), Section 8, eff June 15, 2021.
Structure South Carolina Code of Laws
Title 58 - Public Utilities, Services and Carriers
Chapter 31 - Public Service Authority
Section 58-31-10. Creation of South Carolina Public Service Authority; offices.
Section 58-31-20. Board of directors; advisory board.
Section 58-31-30. Powers of Authority.
Section 58-31-40. Remedies upon default of obligations; appointment of receiver.
Section 58-31-50. Right to and procedure for acquisition of property by Authority.
Section 58-31-55. Standards for director's discharge of duties; immunity.
Section 58-31-56. Conflict of interest transactions.
Section 58-31-57. Suits for breach of duty.
Section 58-31-60. Duties and powers of board of directors.
Section 58-31-70. Use of facilities and operation of business of Authority.
Section 58-31-90. Payments in lieu of taxes to certain counties and school districts.
Section 58-31-100. Payment of additional sums in lieu of taxes.
Section 58-31-110. Net earnings; disposition and use.
Section 58-31-120. Authority shall use labor and materials from this State.
Section 58-31-150. Amendments or repeal of chapter; effect.
Section 58-31-160. Authority may construct Santee-Cooper project.
Section 58-31-170. Designation of Lake Moultrie and Lake Marion.
Section 58-31-200. Joint ownership of nuclear electric generating station in Fairfield County.
Section 58-31-225. Office of Regulatory Staff; inspections, audits, and examinations.
Section 58-31-227. Renewable energy facilities and resources.
Section 58-31-230. Public Service Authority broadband authority.
Section 58-31-240. Joint Bond Review Committee; annual reporting of real property transactions.
Section 58-31-250. Legislative oversight.
Section 58-31-310. Definitions.
Section 58-31-320. Customers to whom Authority shall provide electric service.
Section 58-31-330. Service area of authority.
Section 58-31-340. Filing and correcting drawings; acquisition of facilities outside service area.
Section 58-31-350. Acquisition of facilities within service area.
Section 58-31-360. State covenant with holders of obligations of Authority.
Section 58-31-370. Jurisdiction of circuit court.
Section 58-31-380. Annual report of Authority as to rates.
Section 58-31-400. Submission of annual budget.
Section 58-31-440. Maintenance of existing lines; customer choice in certain circumstances.
Section 58-31-450. Erosion control.
Section 58-31-510. Definitions.
Section 58-31-520. Termination procedures; contents.
Section 58-31-530. Third-party notification program.
Section 58-31-540. Disconnection when public safety emergency exists.
Section 58-31-550. Private right of action; duty of care.
Section 58-31-710. Adoption and publication of pricing principles.
Section 58-31-720. Definition of "customer".
Section 58-31-730. Retail rate adjustment process; notice; interim rates; judicial review.