2020 South Carolina Code of Laws
Title 59 - Education
Chapter 122 - The Citadel Housing Revenue Bonds
Section 59-122-10. Definitions.

As used in this chapter:

(1) "Auxiliary facilities" means any dining or food service facilities operated to provide for the students, faculty, or staff at The Citadel, any lodging facilities provided for temporary use by student, faculty, staff, or guests of any of them or of The Citadel, and such other facilities or activities, including laundry facilities and facilities for the sale of sundry items, as are determined by the board to be necessary or appropriate in connection with student and faculty housing or other auxiliary facilities.

(2) "Board" means the Board of Visitors of The Citadel.

(3) "Bond" or "bonds" means any note, bond, installment contract, or other evidence of indebtedness issued pursuant to this chapter.

(4) "Facilities" means student and faculty housing auxiliary facilities or either of them.

(5) "Maximum annual debt service" means the total amount of principal, premium, if any, and interest due and payable by The Citadel in any fiscal year of The Citadel.

(6) "Revenues" means receipts of The Citadel from the operation of any of the facilities. 'Net revenues' means these receipts reduced by the necessary expenses for operation and maintenance of the facilities.

(7) "Authority" means the State Fiscal Accountability Authority.

(8) "Student and faculty housing" means any dormitories, barracks, or similar facilities intended for occupancy by students resident at The Citadel and any apartment or residence intended for occupancy by permanent or temporary members of the faculty or lecturers and authorized staff members at The Citadel.

HISTORY: 1989 Act No. 102, Section 2.