South Carolina Code 11-40-70. Receipt, distribution, and holding of funds by the authority
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 11-40-70
- Authority: means the South Carolina Infrastructure Facilities Authority. See South Carolina Code 11-40-30
- Fund: means the South Carolina Infrastructure Revolving Loan Fund established pursuant to § 11-40-50, including the various accounts established thereunder. See South Carolina Code 11-40-30
- Management services: means technical, administrative, instructional, or informational services provided to any current or potential loan recipient in, but not limited to, the areas of service charge structure; accounting, capital improvements budgeting or financing; financial reporting, treasury management, debt structure or administration or related fields of financial management; contract or grant administration; management of water, sewer, or solid waste systems; and economic development administration strategies. See South Carolina Code 11-40-30
The authority may receive funds from federal, state, or other sources for the purpose of making grants to local governments to fund, or assist in funding, projects, infrastructure services and management services. Except with respect to funds for the purpose of making grants described in § 11-40-50 (C)(6), the funds must be held by the authority separately from the fund. The authority may hold and distribute the funds in accordance with any federal or state program in connection with which the funds were received by the authority.