South Carolina Code 59-127-500. Power to issue facilities improvement bonds
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Terms Used In South Carolina Code 59-127-500
- Academic and administrative buildings: means the real and personal property and equipment to be utilized by the College of Engineering, Science and Mathematics, the College of Education, Humanities and Social Science, and the College of Business and Applied Professional Sciences, whether or not the acquisition or construction of these facilities are financed from the proceeds of bonds, notes, or other indebtedness issued pursuant to the provisions of this article. See South Carolina Code 59-127-490
- Equipment: means items with a useful life of at least fifteen years. See South Carolina Code 59-127-490
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- University: means South Carolina State University. See South Carolina Code 59-127-490
Subject to the approval of the Joint Bond Review Committee and the State Fiscal Accountability Authority or Department of Administration, as appropriate, by resolution adopted, the university may issue bonds, notes, or other forms of indebtedness for the purpose of financing or refinancing in whole or in part the cost of acquisition, construction, reconstruction, renovation, and improvement of land, buildings, and other improvements to real property and equipment for the purpose of providing certain academic and administrative buildings as defined in this article serving the needs of the university.