Authorizes Rutherford County (County) to construct community college buildings (defined) on the campuses of Isothermal Community College (College) within the County.  Defines construct and construction to include making additions, improvements, renovations, or repairs to all or any part of a community college building. Provides for financing of such construction, including by transfer of College property to the County as security with a leaseback provision upon completion of building construction. Exempts the County from GS 115D-9 (powers of State Board of Community Colleges regarding capital improvements) and the general provisions governing the Department of Administration laid out in Part I of Article 36 in GS Chapter 143. Requires the County to comply with provisions of GS Chapter 143 pertaining to the procurement of architectural, engineering, and surveying services as well as public contracting.  Authorizes an MOU between the College and County if certain circumstances permit.  Applies only to construction projects, including additions, improvements, renovations, and repairs, coordinated by the County for College uses and purposes.