South Carolina Code 59-147-20. Definitions
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As used in this chapter:
(1) "board" means the board of trustees of the university;
Terms Used In South Carolina Code 59-147-20
- board: means the board of trustees of the university;
(2) "equipment" means items with a useful life of at least fifteen years;
(3) "facilities" means the real and personal property and equipment specified in § 59-147-20(2) of this chapter whether or not the acquisition or construction thereof is financed from the proceeds of bonds issued pursuant to this chapter;
(4) "revenues" means the revenues derived or to be derived from the operation, sale, lease, or other disposition of the facilities; and
(5) "university" means all research and four-year public institutions of higher education. See South Carolina Code 59-147-20 - Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Personal property: All property that is not real property.
(2) "equipment" means items with a useful life of at least fifteen years;
(3) "facilities" means the real and personal property and equipment specified in § 59-147-20(2) of this chapter whether or not the acquisition or construction thereof is financed from the proceeds of bonds issued pursuant to this chapter;
(4) "revenues" means the revenues derived or to be derived from the operation, sale, lease, or other disposition of the facilities; and
(5) "university" means all research and four-year public institutions of higher education.