South Carolina § 13-12-10 - Authority created; jurisdictional area; governing body; selection and terms of members; filling of vacancies.

§ 13-12-10. Authority created; jurisdictional area; governing body; selection and terms of members; filling of vacancies.

There is created the Trident Economic Development Finance Authority. The jurisdictional area of the authority shall consist of two or more of the counties of Berkeley, Charleston, and Dorchester which counties qualified electors have each approved their participation in the authority by referendum. The governing body of the authority is a board of not more than seven members whose members shall serve for terms of four years and until their successors are elected and qualify. The governing bodies of Berkeley and Dorchester Counties shall each elect two members of the board and the governing body of Charleston County shall elect three members of the board upon approval of their county's participation by referendum. Vacancies on the board must be filled for the unexpired term in the manner of the original election. The authority is a local political subdivision as contemplated by Section 11-35-310(18).

HISTORY: 1992 Act No. 515, SECTION 1, eff Sept. 1, 1992; 1992 Act No. 518, SECTION 1, eff Sept. 2, 1992.

Code Commissioner's Note

Chapter 12 of Title 13, was added by two 1992 Acts; 1992 Act No. 515, SECTION 1, effective September 1, 1992, and 1992 Act No. 518, SECTION 1, effective September 2, 1992. At the direction of the Code Commissioner, Chapter 12, as added by 1992 Act No. 518, SECTION 1, is set out as the latest expression of the intent of the General Assembly.

Editor's Note

1992 Act No. 518 SECTION 3, eff September 2, 1992, provides as follows:

"The county election commissioners for Berkeley, Dorchester, and Charleston Counties are directed to place on the ballot at the time of the November, 1992, general election the following question:

"Shall there be created a Trident Economic Development Finance Authority which shall have the power, among other things, with the approval of the governing bodies of each of the participating counties in the Berkeley, Dorchester, and Charleston County area, to issue general obligation bonds for the purpose of promoting economic development in the area of the authority?

	Yes	[]
	No	[]

"Those voting in favor of the question shall deposit a ballot with a check or cross mark in the square before the word 'Yes', and those voting against the question shall deposit a ballot with a check or cross mark in the square before the word 'No'.

"If this question receives a majority of the votes cast in two or more of the counties of Charleston, Berkeley, and Dorchester, as certified by the Board of State Canvassers, this act shall be implemented on the date on which written evidence of this fact is transmitted to the Secretary of State."