(A) The General Assembly finds that it is desirable to provide continuing and general statutory authority for Winthrop University to incur debt for the purpose of, among other things, acquiring, constructing, renovating, and equipping certain athletic facilities, which debt is secured by a pledge of the revenues derived from the operation of the athletic department of Winthrop University and by the proceeds of certain related admissions fees and special fees charged to students enrolled at Winthrop University. Winthrop University has demonstrated need for additional funds to provide for acquisition, construction, renovation, and equipping of such facilities. These facilities are needed to replace or renovate aging facilities and to provide additional facilities all to the end that the educational environment at Winthrop University will be enhanced for the benefit of present and future students at Winthrop University.
(B) Consideration has been given to this need and to the methods of funding it. It has been determined to be in the best interests of the people of this State to authorize Winthrop University to acquire, construct, renovate, and equip additional such facilities and to incur indebtedness for these purposes which is payable from the revenues derived from the operation of these facilities and from related fees to the extent and under the conditions provided for in this article.
HISTORY: 2000 Act No. 356, Section 1.