University of South Carolina Libraries
$20 million in c US cover c By Candi Sittc Gamecock Staff Wi The $20 million USC collects fi in student fees is used primarily service and universitv nrw?rnHnr Denton, USC vice president for Once the students pay the fe< money is deposited in a universit auspices of the state treasurer. 1 deposited into an account used to building loans. The bondholder, who made the year, Denton said. The first paj payment, which is followed by a principle payment. "IN BETWEEN those times, t interest," he said, "which is fi called the debt amortization sche satisfy those bond issues." The interest earned on bond mi money mark at the time. "Rigl large amounts of interest like ni Denton said. "There have been ti as little as five percent." The portion of fees to be used to is determined by state law an< Bad chei By Gordon Ilirsch Gamecock Staff Writer Writing bad checks in Colum can be a profitable and relativ safe practice because of a n interpretation of laws dealing \* fraudulent checks. It's profitable to the tune of minion mis year, according to b Merchants Association, and saf< the check writer keeps the amoi of the check small. Under current state law, m chants are finding the cost recovering bad checks for sm amounts of money can be grea than the amount of the check. It wasn't always this way. A ser of legal opinions by the Attorn rir*no**ol 'c AffI "???1 4 ?i o unite uiiangeu l application of the law this p; August. Formerly, businessm could rely on the authority county magistrates for help. I now magistrates are almt powerless to help collect b checks. MAGISTRATE-OPERATED "check-clearing houses" Greenville, Lexington a 311s 3:30 'Iff m 6:30 iTilTilil * ANY TIME _________ __ MEL.E I? n | IPfii A Psyct w^^nri "> i j ^Q'fi n - . collections >C stude lebts, oj >n rit?r agreeme: 'om its 10 campuses bolder. r for university debt rf1 * Qraac nf i, according to Pete " finance. your hom ss, Denton said, the consi(Jer ;y account under the ?Peratlon ^alf of the money is T repay loans, such as loan, is paid twice a >nment is an interest : second interest and |"come 18 the mom tremendo he money does earn yearigured into what is In add dule, which helps us receives subsidy f< oney depends on the usually r tit now you can earn Total u ne and 10 percent," approprif imes when it earned the differ work-stu< ward bond payment "Since 3 a bond indenture do not pa] zks provit Richland counties becam ivvii t v anci UlCStK Oj bia determined they could no ely act as a collection agency ew check cases, ith Magistrates had been payment of bad checks $10 taining criminal warrants i.C. check cases. The warrant e if held until the check was ma unt and a civil fee paid magistrate. er- An opinion by the A of General's Office said magi all "clearly cannot" charge a ter collecting bad checks and i punished for doing so. The i ies criminal process to settle ley debt was dropped because he questionable legality. ast en THE RESULT is an inc of number of bad checks and i iut to effectively collect for >st within the legal system. ad Under existing law, a cl considered fraudulent criminal) when the check signs improperly or lack in ficient funds to cover the am* nd Ihp fVi Lr QnH (lion folio t" " V..V unu tw^ii latio lU II 1ROOKS ~ in MaI 1If wComedy (jg nt fees >eratior tit, which guarantees paymer Denton said. nainder of the money is used the university charging fees, sing fee, it goes to cover housi ?d university fees, it goes is," he said. IONEY also collects interest, state calls "investment incom income for state operation, reasurer Howard Rhodes sai a smart move for the state. "1 ey in the entire state, yoi us amount of interest over th ition to the student fees, tl state appropriations which )r operating the university. Dei eceives $70 to $80 million a y niversity operation is $117 mil ition for 1978-79 is $68.7 million ence is paid by federal conti Jy funds and other sources, we're state supported," he sa f all the costs of running the ins ig profitc e inef- good within 10 d? pinions criminal proceeding: longer intent" (proof that in bad- tended the check to be shown, a difficult forcing in many cases, by ob- 1? civil suits, me in bad- pay a $10 fee to hav< s were investigated by the degood office. This fee may to the in the civil action if ( in the merchants' ttorney success in the istrates guarantee payment fee for because civil courts 1 may be to enforce payment, jse of a a civil?? J of its >? :reased / no way yf leek is / Jar (or I Jr n writer I ;s suf- j : j I'] ountof lake it 'd Ksl I EDS1 m I e I to fund other ' "If it was for ng, and if it's J:' : to university which I>enton e." The state j d investment If you took all i pick up a e period of a le university [ ,'T is the state iton said USC ear. tioii ana scaie i. Denton said racts, grants, iid, "students r* f utution Beach With Folly Be ISJS.%^ that scientists recently lost IS iys. Also, in s, "fraudulent the writer in- |? be bad) must ^1 point to prove ^ ^B| Tchants must mm ??? ~ , . KB 1411 Oervali e a bad check ^ 11-2:15*4:45. magistrate's H be recovered flj he court finds K| ^ favor. But KfAll suit doesn't of the debt, Choice < ack the power ] 1PDI/4 0 TH 9TUDGNT MGDIH rfCCGPTING ^PPLIC TH ^OLLOWIM' TOR IN CHIEF - l ffective June 1, 1971 rtPPLOTIONS rfMrtlLrtBLG 3RD ^LOOR m D rtDLIN . MONMY. D erosion iach in the news so often I; have failed to notice 0 miles of beach. Or is it cafetei IT-] New ^ Special ed Liver of Two Vegetable BDcc. 4 - Dec. 1( DPNIN 1 >w 1 I I I 1 IrtTlOW f OR ~~ G POSITION, 6ARNET & B ? May 31, 1984 IN M DM Office sen House. C. 11. 1978 5 P.r V jB^H X < ^ .> . .- ^x.. -r MuJ *"- ^ .:,c ^ y^WIPi^B |DM^^ck-OAA^CWK| atcly v it would seem that Myrtle Beach just a frat fantasy? j | I Richland Mall I fe 111-2:1$ >4:00-1:00 | " j $1.79\| hi I >?wmM \ x3J LACK I Agp