South Carolina Code 12-44-70. Use of revenues
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 12-44-70
- County: means the county or counties in which the project is proposed to be located. See South Carolina Code 12-44-30
- Fee: means the amount paid in lieu of ad valorem property tax as provided in the fee agreement. See South Carolina Code 12-44-30
- Sponsor: means one or more entities which sign the fee agreement with the county and makes the minimum investment, subject to the provisions of § 12-44-40, each of which makes the minimum investment as provided in item (13) and also includes a sponsor affiliate unless the context clearly indicates otherwise. See South Carolina Code 12-44-30
A county, municipality, or special purpose district that receives and retains revenues from a payment in lieu of taxes may use a portion of the revenues for the purposes outlined in § 4-29-68 without the requirements of issuing special source revenue bonds or complying with § 4-29-68(A)(4) by providing a credit against or payment derived from the fee due from a sponsor.