Marlboro County approves second reading of $3 million special source revenue bond for ‘Delta Project’ and passes related resolutions

Marlboro County Council on Sept. 9 approved the second reading of Ordinance No. 874, clearing the way for up to $3 million in special source revenue bonds tied to the county’s “Delta Project.” The council also unanimously approved Resolution 09-25-01 to submit a grant application to the South Carolina Department of Commerce and Resolution 09-25-02 to seek approval from the State Fiscal Accountability Authority.

The ordinance, described at the meeting as a special source revenue bond, limits repayment to revenues derived from payments in lieu of taxes from designated multi-county parks and establishes dedicated funds and covenants to secure the bonds. County Administrator Wilson A. Clyburn and Finance Director Wes Park discussed the measure briefly during the meeting but did not offer additional financial detail in the minutes.

Council members moved and seconded the measures by roll call of motions recorded in the minutes: the ordinance second reading was moved by Councilman Jason Steen and seconded by Councilman Charles P. Midgley Jr.; Resolution 09-25-01 was moved by Mr. Midgley and seconded by Mr. Steen; Resolution 09-25-02 was moved by Mr. Lafeyette Jackson and seconded by Mr. Steen. The minutes record each vote as “Unanimous.” The minutes do not list individual vote names or a final adoption step for the ordinance beyond the second reading.

The second-reading ordinance and the State Fiscal Accountability Authority resolution reference Title 4, Chapter 29 of the Code of Laws of South Carolina for procedures related to special source revenue projects. According to the minutes, council members approved the motions and the items carried; staff were directed to pursue the state-level approvals and the commerce-department grant application as the next steps.

The meeting record shows the council entered an executive session to discuss contractual and personnel matters and then reconvened; Chairman Anthony Woods said no votes or formal decisions were made in executive session. The council adjourned at 7:10 p.m.