South Carolina Code 59-117-80. Board authorized to lease or sell real property donated during fund campaign
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In South Carolina Code 59-117-80
- 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
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
After obtaining the approval of the State Fiscal Accountability Authority or the Department of Administration, as appropriate, the board of trustees of the University of South Carolina is authorized to lease or to sell and convey from time to time any real property which may have been or may hereafter be donated to the University in the course of its current greater university fund campaign, or any similar campaign which may be conducted at any future time, for such consideration and upon such terms and at such times and in such manner as shall be set forth in the resolution of approval of the State Fiscal Accountability Authority or the Department of Administration, as appropriate. The proceeds of any such lease or sale shall be applied to the original purpose of the donation of the property leased or sold.