The State Board of Education, by resolution, shall notify the State Fiscal Accountability Authority of the following:
(1) the amount then required for allocation to local school districts for school facilities for the next fiscal year;
(2) a tentative time schedule setting forth the period of time during which the sum requested will be expended;
(3) a debt service table showing the annual principal and interest requirements for all state school facilities bonds then outstanding; and
(4) the total amount of all state school facilities bonds issued.
This notification shall be presented to the State Fiscal Accountability Authority by March first of each year.
HISTORY: 1999 Act No. 28, Section 1.
Structure South Carolina Code of Laws
Chapter 146 - State School Facilities Bonds Act
Section 59-146-10. Short title.
Section 59-146-20. Purpose of chapter to assist school districts to provide educational facilities.
Section 59-146-30. Definitions.
Section 59-146-40. School facilities bonds.
Section 59-146-60. State Board of Education notification to State Fiscal Accountability Authority.
Section 59-146-90. Terms of state school facilities bonds.
Section 59-146-100. Tax exemption of state school facilities bonds.
Section 59-146-110. Execution and authentication of state school facilities bonds.
Section 59-146-120. Payment of principal and interest.
Section 59-146-130. Sale of state school facilities bonds.
Section 59-146-140. Proceeds of sale of state school facilities bonds.
Section 59-146-150. Investment in state school facilities bonds by fiduciaries.
Section 59-146-160. Allocation of proceeds of sale of state school facilities bonds.
Section 59-146-180. Qualification of school districts for funds.