AN ACT TO AUTHORIZE THE ISSUANCE OF GENERAL OBLIGATION BONDS FOR THE PURPOSE OF ACCOMPLISHING CERTAIN INTERRELATED AND UNITED PROJECTS TO FURTHER ECONOMIC DEVELOPMENT IN THE STATE CONSISTENT WITH THE CONNECT NC PLAN.
House amendments make the following changes to the 2nd edition.
Amendment #1 inserts a new provision requiring a community college receiving proceeds of public improvement bonds and notes to provide matching local funds from county funds or other non-state funds equal to the amount of proceeds received.
Amendment #5 requires entities receiving proceeds of public improvement bonds and notes to report not only to the Joint Legislative Capital Oversight Committee, as the 2nd edition requires, but also to the House of Representatives Appropriations Committee and the Senate Committee on Appropriations/Base Budget.
Amendment #5 also amends the special allocation provisions to require items purchased with bond and note proceeds as part of a renovation or rehabilitation to have a useful life of or extend the life of the facility by at least 20 (was, 10) years.
© 2020 School of Government The University of North Carolina at Chapel Hill
This work is copyrighted and subject to "fair use" as permitted by federal copyright law. No portion of this publication may be reproduced or transmitted in any form or by any means without the express written permission of the publisher. Distribution by third parties is prohibited. Prohibited distribution includes, but is not limited to, posting, e-mailing, faxing, archiving in a public database, installing on intranets or servers, and redistributing via a computer network or in printed form. Unauthorized use or reproduction may result in legal action against the unauthorized user.
Beginning January 1, you do not need to log in to view the Daily Bulletin, Bills and Bill Summaries.