In addition to other powers vested in the authority by existing laws, the authority has all powers granted the counties and municipalities of this State pursuant to the provisions of Chapter 29, Title 4, including the issuance of bonds by the authority and the refunding of bonds issued under that chapter. The authority may issue bonds upon receipt of a certified resolution by the county or municipality in which the project, as defined in Chapter 29, Title 4, is or will be located, containing the findings pursuant to Section 4-29-60 and evidence of a public hearing held not less than fifteen days after publication of notice in a newspaper of general circulation in the county in which the project is or will be located. The authority may combine for the purposes of a single offering bonds to finance more than one project. The interest rate of bonds issued pursuant to this section is not subject to approval by the South Carolina Coordinating Council for Economic Development.

HISTORY: 1983 Act No. 145 Section 11; 1992 Act No. 404, Section 4, eff July 1, 1992; 2014 Act No. 121 (S.22), Pt VIII, Section 24.A, eff July 1, 2015; 2017 Act No. 80 (H.3927), Section 1, eff June 1, 2017.

Effect of Amendment

The 1992 amendment revised this section.

2014 Act No. 121, Section 24.A, substituted "Fiscal Accountability Authority" for "Budget and Control Board", and made other nonsubstantive changes.

2017 Act No. 80, Section 1, substituted "not subject to approval by the South Carolina Coordinating Council for Economic Development" for "subject to approval by the State Fiscal Accountability Authority".