2021 South Carolina Code of Laws
Title 11 - Public Finance
Chapter 51 - South Carolina Research University Infrastructure Act
Section 11-51-70. Certification of costs to State Budget and Control Board prior to issuance of general obligation debt.
As a condition precedent to the issuance of general obligation debt pursuant to the provisions of this chapter, the Research Centers of Excellence Review Board shall certify to the state board that at least fifty percent of the cost of each research infrastructure project is being provided by private, federal, municipal, county, or other local government sources. This portion of the cost, in the discretion of the Research Centers of Excellence Review Board, may be in the form of cash; cash equivalent; buildings including sale-lease back; gifts in kind including, but not limited to, land, roads, water and sewer, and maintenance of infrastructure; facilities and administration costs; equipment; or furnishings.
HISTORY: 2004 Act No. 187, Section 9.
