As used in this article:
(1) "Board" means the governing board of the Department of Natural Resources which serves as the trustees of the South Carolina Heritage Trust.
(2) "Bond" or "bonds" means a note, bond, installment contract, or other evidence of indebtedness issued pursuant to this article.
(3) "Bond Reserve Fund" means the special fund that may be established by the board pursuant to this article, which must be in the custody of the State Treasurer or a corporate trust department of a financial institution selected by the State Treasurer and which is established primarily for the purpose of providing a reserve with which to meet the payment of the principal of and interest on bonds if payments otherwise required from the debt service fund are insufficient to meet the payment of the principal and interest as and when they are due and payable.
(4) "Department" means the South Carolina Department of Natural Resources.
(5) "Heritage Land Trust Fund" means the fund established and administered pursuant to Section 51-17-115 of the 1976 Code.
(6) "Heritage Land Trust portion of the state deed recording fee" means that portion of the state deed recording fee credited to the Heritage Land Trust Fund pursuant to Section 12-24-90(B)(1) of the 1976 Code.
(7) "Heritage Preserve" has the meaning provided in Section 51-17-10(7) of the 1976 Code.
(8) "The Heritage Trust Program" has the meaning provided in Section 51-17-10(12) of the 1976 Code.
(9) "State" or "this State" means the State of South Carolina.
(10) "State deed recording fee" means that portion of the deed recording fee imposed by Chapter 24 of Title 12 of the 1976 Code designated as the "state fee" in Section 12-24-90 of the 1976 Code.
(11) "State Treasurer" means the State Treasurer of South Carolina.
(12) "Trustees" means the trustee of the South Carolina Heritage Trust which is the board of the Department of Natural Resources.
HISTORY: 2006 Act No. 251, Section 2.B, eff March 28, 2006.