Bill Summary for S 309 (2023-2024)
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Summary date:
Mar 14 2023
Bill Information:
| View NCGA Bill Details | 2023-2024 Session |
AN ACT TO AUTHORIZE THE FINANCING, WITHOUT APPROPRIATIONS FROM THE GENERAL FUND OR THE STATE CAPITAL AND INFRASTRUCTURE FUND, OF CERTAIN CAPITAL IMPROVEMENT PROJECTS OF THE CONSTITUENT INSTITUTIONS OF THE UNIVERSITY OF NORTH CAROLINA.Intro. by Galey, Barnes.
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Bill summary
Substantively identical to H 364, filed 3/14/23.
States the act's purpose. Authorizes the UNC Board of Governors (BOG) to issue, at one time or from time to time, revenue or special obligation bonds, or both, for the listed projects in the stated amounts at Appalachian State University, NC State University, UNC-Chapel Hill, UNC-Pembroke, and Western Carolina University.
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 projects; allows consultation with the Joint Legislative Commission on Governmental Operations.