2021 South Carolina Code of Laws
Title 11 - Public Finance
Chapter 40 - South Carolina Infrastructure Facilities Authority Act
Section 11-40-250. Division of Local Government to assist authority; duties of Division.
The Division of Local Government of the State Rural Infrastructure Authority shall provide staff and otherwise assist the authority in the administration of the fund and the performance of its functions under this chapter. The funds to be used for purposes of the Infrastructure Facilities Authority must come from funds appropriated to or made available to the Infrastructure Facilities Authority and not those funds of the Rural Infrastructure Authority, the administration of which also is a part of the responsibilities of the Division of Local Government as provided by law. In providing such assistance the Division of Local Government shall:
(1) assist in the formulation, establishment, and structuring of programs undertaken by the authority pursuant to this chapter;
(2) provide local governments information as to the programs of the authority and the procedures for obtaining the assistance intended by the chapter;
(3) assist local governments in making application to such state and federal agencies, including the authority, as may be necessary or helpful in order to avail themselves of such programs;
(4) assist the authority in analyzing and evaluating local government requests for assistance pursuant to this chapter;
(5) assist in the structuring and negotiation of local government loan agreements and loan obligations and authority bonds;
(6) administer the fund, including any accounts therein;
(7) administer the authority's programs and loans, including monitoring compliance by local governments with any rules, regulations, or other requirements of the authority with respect to such programs and compliance with covenants and agreements made by local governments with respect to any loan agreement or loan obligation; and
(8) provide other assistance and perform other duties as may be requested or directed by the authority.
HISTORY: 1994 Act No. 525, Section 2; 2014 Act No. 121 (S.22), Pt VII, Section 20.G.2, eff July 1, 2015.
Effect of Amendment
2014 Act No. 121, Section 20.G.2, in the first undesignated paragraph, substituted "Rural Infrastructure Authority" for "Budget and Control Board", and added the second sentence relating to the source of funds; and made other nonsubstantive changes.
