§ 11-51-10 Short title
§ 11-51-20 Legislative findings and purpose
§ 11-51-30 Definitions
§ 11-51-40 Issuance of general obligation debt authorized; limitations
§ 11-51-50 Maximum annual debt service at time of issuance
§ 11-51-60 Research infrastructure project used for unapproved purpose; reimbursement of debt service to State
§ 11-51-70 Certification of costs to State Budget and Control Board prior to issuance of general obligation debt
§ 11-51-80 Information provided to Joint Bond Review Committee and State Budget and Control Board prior to issuance of general obligation debt
§ 11-51-90 Principal amount of general obligation debt provided on a competitive basis
§ 11-51-100 Issuance of general obligation debt or anticipation notes
§ 11-51-110 Resolution by State Budget and Control Board authorizing issuance of general obligation debt
§ 11-51-120 Maturity, payment, and interest rates
§ 11-51-125 Allocation and use of funds; authorization for additional bonds; project approval
§ 11-51-130 General obligation debt exempt from taxation
§ 11-51-140 Executive signature, attestation, and state seal requirements
§ 11-51-150 Pledge of full faith, credit, and taxing power of State; allocation of tax revenues for payment of principal and interest
§ 11-51-160 Advertisement and sale requirements; right to reject bids; expenses incident to sale
§ 11-51-170 Application of sale proceeds; liability of purchaser
§ 11-51-180 Investment by executors, administrators, and other fiduciaries
§ 11-51-190 Exemption from state procurement process; alternative procurement procedures
§ 11-51-200 Construction of Chapter

Terms Used In South Carolina Code > Title 11 > Chapter 51 - South Carolina Research University Infrastructure Act

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
  • Facilities and administration costs: means depreciation and use allowances, interest on debt associated with buildings, equipment and capital improvements, operation and maintenance expenses, library expenses, general administration expenses, departmental administration, sponsored projects administration, and student administration and services. See South Carolina Code 11-51-30
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • General obligation debt: means any indebtedness of the State which must be secured in whole or in part by a pledge of the full faith, credit and taxing power of the State, including, but not limited to, bonds, notes, and other evidences of indebtedness, and issued pursuant to the provisions of this chapter. See South Carolina Code 11-51-30
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • 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
  • 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.
  • project: means a project that would advance economic development and create a knowledge based economy, thereby increasing job opportunities, or facilitate and increase externally funded research at the research universities, including, but not limited to, land acquisition, acquisition or construction of buildings, equipment, furnishings, site preparation, road and highway improvements, water and sewer infrastructure, and other things necessary or convenient to advance economic development or to facilitate and increase research at the research universities. See South Carolina Code 11-51-30
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Research Centers of Excellence Review Board: means the board created pursuant to § 2-75-10. See South Carolina Code 11-51-30
  • Research universities: means Clemson University, The Medical University of South Carolina, and the University of South Carolina-Columbia. See South Carolina Code 11-51-30
  • State board: means the governing board of the State Fiscal Accountability Authority. See South Carolina Code 11-51-30
  • Trustee: A person or institution holding and administering property in trust.