The authorities of any operating school unit may issue general obligation bonds of such operating school unit for the purpose of defraying the cost of capital improvements to any amount not exceeding the constitutional debt limitation applicable to such operating school unit, if:

(1) The election required by this article as a condition precedent to the issuance of bonds results favorably thereto;

Terms Used In South Carolina Code 59-71-30

  • authorities: shall mean the board of trustees or the commission vested by law with the duty of operating the public schools in any particular district, unit or county of the State;

    (2) The term "operating school unit" shall mean any type of school district, whether it be located in its entirety in one county or located partly in more than one county or, in case the schools of any county be operated by the county unit plan, the county;

    (3) The term "capital improvements" shall mean the constructing, improving, equipping, renovating and repairing of school buildings or other school facilities or the cost of the acquisition of land whereon to construct or establish such school facilities; and

    (4) The term "county board" shall mean the county board of education of the county wherein the operating school unit is located, except that when an operating school unit is located partly in one county and partly in another county such term shall in such instances relate to the county boards of education of the counties wherein the operating school unit is located. See South Carolina Code 59-71-20
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.

(2) The bonds are issued within three years following the holding of the election; and

(3) The county board wherein such operating school unit is located, if there is such, shall give its approval to the issuance of such bonds.

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