Davenport v. City of Rock Hill

Finney, Associate Justice:

This proceeding is brought within the original jurisdiction of the Supreme Court due to the significant public interest involved. See Key v. Currie, 305 S.C. 115, 406 S.E. (2d) 356 (1991). We deny relief.

The city council (council) of Rock Hill (City) adopted a tax ordinance effective January 1, 1992, which provided that the council was empowered at any time in 1992 to authorize the issuance of tax anticipation notes (TANS) pursuant to S.C. Const, art. X, § 14 and S.C. Code Ann. § 11-27-40 (1986). On July 1992, the City issued TANS 1 in the amount of $3 million. The…