Bill Summary for S 367 (2021-2022)

Summary date: 

Mar 29 2021

Bill Information:

View NCGA Bill Details2021
Senate Bill 367 (Public) Filed Monday, March 29, 2021
AN ACT TO AUTHORIZE THE ACQUISITION OR CONSTRUCTION AND THE FINANCING, WITHOUT APPROPRIATIONS FROM THE GENERAL FUND, OF CERTAIN CAPITAL IMPROVEMENT PROJECTS OF THE CONSTITUENT INSTITUTIONS OF THE UNIVERSITY OF NORTH CAROLINA.
Intro. by Lee.

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Bill summary

States the act's purpose. Authorizes the UNC Board of Governors (BOG) to issue, at one time or from time to time, special obligation bonds for the purpose of acquiring or constructing and financing the Recreation Field and Facilities at Walton Drive Student Village at UNC-Wilmington, with a total capital improvement project cost of $9.75 million. Caps the maximum principal amount of bonds issued at the specified project cost plus 5% to pay issuance expenses and related costs. Permits the Director of the State Budget to authorize an increase or decrease in the cost of, or change the method of, funding for the authorized project; allows consultation with the Joint Legislative Commission on Governmental Operations. Provides for financing within funds available to UNCW, as specified, not including funds received for tuition or legislatively appropriated unless statutorily authorized. 

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