The gamecock. (Columbia, S.C.) 1908-2006, December 04, 1978, Page Page 4, Image 4
$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
\
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LACK I
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