After obtaining the approval of the State Fiscal Accountability Authority or the Department of Administration, as appropriate, the board of trustees of the University of South Carolina is authorized to lease or to sell and convey from time to time any real property which may have been or may hereafter be donated to the University in the course of its current greater university fund campaign, or any similar campaign which may be conducted at any future time, for such consideration and upon such terms and at such times and in such manner as shall be set forth in the resolution of approval of the State Fiscal Accountability Authority or the Department of Administration, as appropriate. The proceeds of any such lease or sale shall be applied to the original purpose of the donation of the property leased or sold.
HISTORY: 1962 Code Section 22-107.1; 1962 (52) 2237.