South Carolina Code 11-41-90. Authorizing resolution
(1) a statement of whether the bonds are being authorized and issued pursuant to § 11-41-50(A), § 11-41-50(B), or § 11-41-50(C);
Terms Used In South Carolina Code 11-41-90
- bonds: means general obligation bonds of this State issued under the authority of this chapter. See South Carolina Code 11-41-30
- project: means either (A) a project in this State as defined in § 12-44-30(16) in which a total of at least four hundred million dollars is invested in the project by the sponsor and at least four hundred new jobs are created at the project by the sponsor, or (B) an expansion of an existing economic development project for which economic development bonds have previously been issued, if in connection with the expansion, in addition to and not including the investment made and new jobs created in connection with the existing project for which economic development bonds have previously been issued, a total of at least four hundred million dollars is invested in the project by the sponsor and at least four hundred new jobs are created at the project by the sponsor. See South Carolina Code 11-41-30
(2) a schedule showing the aggregate of bonds issued, the annual principal payments required to retire the bonds, and the interest on the bonds;
(3) the amount of bonds proposed to be issued;
(4) a schedule showing future annual principal requirements and estimated annual interest requirements on the bonds to be issued; and
(5) certificates evidencing that the provisions of §§ 11-41-50 and 11-41-60 have been or will be met.
(6) a statement that the resolution required by this section for the issuance of bonds pursuant to this chapter is adopted not later than eighteen months after the date of the first notification to the Joint Bond Review Committee and the State Fiscal Accountability Authority with respect to such economic development project pursuant to § 11-41-70.