§ 4-29-100 — Payments from county or municipal general funds prohibited; use of lands owned by county or municipality; donations of property or money.

South Carolina § 4-29-100

• Jurisdiction: South Carolina
• Title 4: COUNTIES
• Ch. 29: INDUSTRIAL DEVELOPMENT PROJECTS

Text

No county or incorporated municipality shall have the power to pay out of its general funds or otherwise contribute, any part of the costs of acquiring a project, except that lands owned by any county or incorporated municipality not required for any other public purpose, may be utilized to the extent required for a project, but under such circumstances the reasonable value of the lands shall be deemed a part of the cost of construction, and shall be paid out of the proceeds of the bonds to the general fund of the county or incorporated municipality. The determination by the governing board of the reasonable value of the land shall be conclusive but review of the determination may be instituted by any interested party within twenty days, but not afterwards, following the publication of notice of the determination in a newspaper of general circulation in each county in which the land is situated, by proceedings de novo in the court of common pleas of the county. The entire cost of acquiring any project shall be paid out of the proceeds from the sale of bonds issued under the authority of this chapter; provided, however, that this provision shall not be construed to prevent a county or incorporated municipality from accepting donations of property to be used as a part of any project or money to be used for defraying any part of the cost of any project.

Legislative History

HISTORY: 1962 Code SECTION 14-399.30; 1967 (55) 120; 1980 Act No. 518, SECTION 10B.