Bill Summary for H 679 (2015-2016)

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Summary date: 

Apr 15 2015

Bill Information:

View NCGA Bill Details2015-2016 Session
House Bill 679 (Public) Filed Monday, April 13, 2015
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.
Intro. by W. Brawley, S. Martin, Szoka, Hastings.

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Bill 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.