AN ACT TO AUTHORIZE THE ACQUISITION OR CONSTRUCTION AND THE FINANCING, WITHOUT APPROPRIATIONS FROM THE GENERAL FUND, OF CERTAIN CAPITAL IMPROVEMENTS PROJECTS OF THE CONSTITUENT INSTITUTIONS OF THE UNIVERSITY OF NORTH CAROLINA.
As the title indicates. Provides that the financing for the capital improvement projects listed in this act is via funds available from gifts, grants, receipts, self-liquidating indebtedness, Medicare reimbursements for education costs, hospital receipts from patient care, or other funds, or any combination of these funds. Excludes funds received for tuition or appropriated from the General Fund unless previously authorized by General Statute. Also provides that pursuant to GS 116D-26, the Board of Governors may issue, subject to the approval of the Director of the Budget, special obligation bonds to pay all or part of the cost of acquiring, constructing, or providing for the projects authorized in this project. Limits the maximum principal amount of bonds to be issued to be no more than the specified project costs in this act plus 5 percent of such amount to pay issuance expenses, fund reserve funds, pay capitalized interest and other related additional costs, plus any increase in the specific project costs authorized by the Director of the Budget under Section 3 of this act.
This act lists the ten capital improvement projects and their respective costs.
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