Before any State school bonds are issued, the State Board of Education shall transmit to the Governor and to the State Treasurer a request for the issuance thereof and shall embody in such request:
(a) A schedule showing the aggregate of bonds issued pursuant to previous requests, the purposes for which they were issued, the annual payments required to retire such bonds, the interest thereon and the amount of sinking fund applicable to the retirement of such outstanding bonds, apportioned in accordance with the requirement of Section 59-71-570;
(b) the amount of bonds sought to be issued;
(c) a schedule showing future annual principal requirements and estimated annual interest requirements on the bonds requested to be issued;
(d) a schedule showing
(i) the estimated total funds required to cover applications for capital improvements and other purposes to be approved by the Board in that fiscal year;
(ii) the amount of funds then available to apply on such applications and;
(iii) the remaining amount required to cover such applications, being the amount for which it is proposed that State school bonds be issued.
HISTORY: 1962 Code Section 21-997; 1952 Code Section 21-997; 1951 (47) 546; 1967 (55) 719.
Structure South Carolina Code of Laws
Section 59-71-10. Short title.
Section 59-71-20. Definitions.
Section 59-71-50. Notice of election.
Section 59-71-70. Maturity of bonds.
Section 59-71-80. Provision for redemption.
Section 59-71-90. Negotiability and registration.
Section 59-71-100. Place of payment.
Section 59-71-110. Interest rate.
Section 59-71-120. Execution of bonds.
Section 59-71-130. Sale of bonds.
Section 59-71-140. Minimum sales price.
Section 59-71-150. Credit pledged for payment; tax.
Section 59-71-160. Exemption of bonds from taxes.
Section 59-71-170. Bonds as legal investments.
Section 59-71-180. Deposit and use of proceeds.
Section 59-71-190. Investment of sinking funds in defense securities.
Section 59-71-310. Resolution of school district concerning bonds in default.
Section 59-71-320. Duties of State Treasurer.
Section 59-71-330. Rules and regulations.
Section 59-71-340. Levy of additional tax.
Section 59-71-410. Authority to issue State school bonds.
Section 59-71-420. Limits on aggregates of indebtedness; maturity date.
Section 59-71-430. Request for issuance of bonds.
Section 59-71-440. Conditions warranting issuance of bonds.
Section 59-71-450. Form of bonds; time, place, and medium of payment.
Section 59-71-460. Denomination of bonds.
Section 59-71-470. Form of bonds; registration.
Section 59-71-480. Interest; maturities; redemption.
Section 59-71-490. Exemption of bonds from taxes or assessments.
Section 59-71-510. Pledge of credit and revenues for payment of bonds.
Section 59-71-520. Revision of retail sales tax not precluded by pledge.
Section 59-71-530. Sale of bonds.
Section 59-71-540. Bonds as lawful investments.
Section 59-71-550. Disposition of proceeds of sale.
Section 59-71-560. Use of proceeds; segregation for different uses.
Section 59-71-570. Sinking fund payments.
Section 59-71-580. Retail sales tax provisions as part of contract with bondholders.