§ 59-127-480 Citation of article
§ 59-127-490 Definitions
§ 59-127-500 Power to issue facilities improvement bonds
§ 59-127-510 Resolution provisions
§ 59-127-520 Form and content of bonds; negotiability
§ 59-127-530 Tax exempt status
§ 59-127-540 Signature and seal
§ 59-127-550 Terms and conditions of sale
§ 59-127-560 Filing description of obligations with State Treasurer
§ 59-127-570 Enforcement rights
§ 59-127-580 Revenue sources for payment; liability of board members
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Terms Used In South Carolina Code > Title 59 > Chapter 127 > Article 4 - South Carolina State University Academic and Administrative Facilities Bond Act

  • 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
  • Board: means the Board of Trustees of South Carolina State University. See South Carolina Code 59-127-490
  • Contract: A legal written agreement that becomes binding when signed.
  • Equipment: means items with a useful life of at least fifteen years. See South Carolina Code 59-127-490
  • Fees and revenues: means the special student fees, auxiliary fees, and revenues derived or to be derived from the operation, sale, lease, or other disposition of the facilities. See South Carolina Code 59-127-490
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • 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
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Personal property: All property that is not real property.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Trustee: A person or institution holding and administering property in trust.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • University: means South Carolina State University. See South Carolina Code 59-127-490
  • Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.