South Carolina § 11-51-70 Certification of costs to State Budget and Control Board prior to issuance of general obligation debt.

South Carolina Statutes

§ 11-51-70 — Certification of costs to State Budget and Control Board prior to issuance of general obligation debt.

South Carolina § 11-51-70

Title 11PUBLIC FINANCE

Ch. 51SOUTH CAROLINA RESEARCH UNIVERSITY INFRASTRUCTURE ACT

This text of South Carolina § 11-51-70 (Certification of costs to State Budget and Control Board prior to issuance of general obligation debt.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 11-51-70 (2026).

Text

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.

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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.