The Old Exchange Building Commission shall have the responsibility of reviewing the problems and opportunities presented in the preservation and restoration of the Exchange Building and review and adopt if deemed appropriate the agreement between the Rebecca Motte Chapter of the Daughters of the American Revolution and the South Carolina American Revolution Bicentennial Commission dated October 25, 1975, a copy of which is on file in the office of the Attorney General. In addition the Commission shall have the following powers:

(a) To negotiate and contract not only with present occupants and title holders of the property but with other parties, if necessary, for the restoration and development of the old Exchange Building.

(b) To accept grants, gifts and bequests for the purpose of restoring, developing and administering the old Exchange Building.

(c) To accept and expend funds of the State, Federal Government and other such public funds as may be given or appropriated for the purpose of restoring, developing and administering the old Exchange Building.

(d) To set and determine policies for the administration and control of the Old Exchange Building Commission pursuant to agreements and contracts that shall be entered into to achieve the development, restoration and administration of the old Exchange Building.

(e) To enter into leases for appropriate periods of time in the event title is not available.

(f) To receive and expend revenue generated by its own activities.

HISTORY: 1976 Act No. 678 Section 3; 1977 Act No. 218 Section 2.