(a) Creation. In order to assist in capital improvement programming, there is hereby created within the office of the county treasurer a special fund to be known as the real property fund. After November 17, 1981, the treasurer is authorized and directed to place in such fund all sums representing the proceeds of sales of real property belonging to the county.
(b) Investment of funds. The treasurer is hereby authorized to invest any portion or all of such funds in those securities or investments authorized by S.C. Code, § 12-45-220, as amended.
(c) Use of moneys; withdrawal of such funds. Moneys in the real property fund may be used only for capital improvement projects or costs incidental thereto, including without limitation, fees of architects, engineers, and planners, attorney’s fees, land acquisition, and site preparation. Such moneys may be withdrawn from the real property fund only upon a 2/3 vote of the members of the county council.
(1976 Code, § 7-88) (Ord. 937, §§ 1-3, passed 11-17-1981; Ord. 3680, § 1, passed 4-1-2003)