South Carolina Code 59-127-450. Responsibilities of State Treasurer
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Terms Used In South Carolina Code 59-127-450
- Admission fee: means the special fee or charge, in addition to other charges, imposed upon each person admitted to a "home" football game, except a freshman or intramural game, in Dawson Football Stadium at South Carolina State University or at any other location where a "home" game is played by the South Carolina State University varsity football team, excluding students admitted as a result of student fees paid to the institution for a regular session. See South Carolina Code 59-127-310
- Bonds: means the Stadium Improvement Revenue Bonds of South Carolina State University authorized by this article. See South Carolina Code 59-127-310
- Debt Service Fund: means the fund established by this article for the payment of the principal and interest on the bonds. See South Carolina Code 59-127-310
- Special student fee: means the fee authorized by this article to be established by the university to provide funds to assist in the repayment of bonds authorized under this article and imposed upon each person in attendance at any regular session, excluding summer sessions, of the university, who is enrolled in a sufficient number of classes or courses for which credit is given toward any degree offered by the university to be classified as a regular full-time student for the purpose of assessing other student fees. See South Carolina Code 59-127-310
- Trustees: means the Board of Trustees of South Carolina State University. See South Carolina Code 59-127-310
The State Treasurer is authorized to accept custody of receipts and revenues derived from the imposition of the admission fee and any special student fee imposed by the trustees, to deposit them in the Debt Service Fund, and to utilize the proceeds of the fund for the payment of the principal and interest on the bonds and for the establishment of a cushion or reserve for their payment. The trustees shall make adequate provisions for the transmission of the revenues derived from the fees to the State Treasurer in a manner prescribed by the State Treasurer. Monies in the fund may be invested and reinvested by the State Treasurer in obligations enumerated in § 11-9-660, with maturities consonant with the needs of the fund.