AN ACT TO AUTHORIZE THE ACQUISITION OR CONSTRUCTION AND THE FINANCING OF CERTAIN CAPITAL IMPROVEMENTS PROJECTS OF THE CONSTITUENT INSTITUTIONS OF THE UNIVERSITY OF NORTH CAROLINA. Enacted October 20, 2015. Effective October 20, 2015.
Summary date: Oct 26 2015 - View summary
Summary date: Sep 21 2015 - View summary
Senate committee substitute makes the following changes to the 1st edition.
Amends the long title.
Makes clarifying changes.
Adds language authorizing the planning of the Plant Sciences Building at NC State during the 2015-17 fiscal biennium, with a total allowable maximum cost of $14 million. Specifies from where the funding for the project is to be originated.
Summary date: Apr 15 2015 - View summary
Authorizes four specified capital improvement projects for constituent institutions of the University of North Carolina. Further provides that the financing of these projects can come from various types of funds available to the institution, including gifts, grants, receipts, and self-liquidating indebtedness. Specifically excludes tuition funds or appropriated monies from the General Fund form being used for the projects.
Provides that the Budget Director can authorize an increase or decrease in the costs of, or a change in the method of, funding the authorized projects.
Allows the Board of Governors to issue special obligation bonds for the purposes of paying for the authorized projects. Specifies procedures and limitations for such bond issuance.