GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2013

 

 

SESSION LAW 2014-60

HOUSE BILL 1182

 

 

AN ACT to AUTHORIZE THE ACQUISITION OR CONSTRUCTION AND THE FINANCING, WITHOUT APPROPRIATIONS FROM THE GENERAL FUND, OF CERTAIN CAPITAL IMPROVEMENTS PROJECTS OF THE CONSTITUENT INSTITUTIONS OF THE UNIVERSITY OF NORTH CAROLINA.

 

The General Assembly of North Carolina enacts:

 

SECTION 1.  The purpose of this act is to authorize (i) the acquisition or construction of the capital improvements projects listed in the act for the respective institutions of The University of North Carolina and (ii) the financing of these projects with funds available to the institutions from gifts, grants, receipts, self‑liquidating indebtedness, Medicare reimbursements for education costs, hospital receipts from patient care, or other funds, or any combination of these funds, but not including funds received for tuition or appropriated from the General Fund of the State unless previously authorized by General Statute.

SECTION 2.  The capital improvements projects, and their respective costs, authorized by this act to be acquired or constructed and financed as provided in Section 1 of this act, including by revenue bonds, by special obligation bonds as authorized in Section 4 of this act, or by both, are as follows:

 

East Carolina University

New Student Union, Parking Structure & Health Sciences

Campus Student Services Building                                                              $ 156,300,000

           

North Carolina State University

Reynolds Coliseum Renovation                                                                                  35,000,000

           

The University of North Carolina at Asheville 

Completion of Karl Straus Track Building                                                                       550,000

Student Recreation Center Improvements                                                                        440,000

           

The University of North Carolina at Chapel Hill          

Chilled Water Plant at Manning Drive                                                                         32,000,000

           

The University of North Carolina at Charlotte 

Campus Infrastructure Development Phase II                                                             46,000,000

Elm/Maple/Pine (Phase V) Renovation                                                                       18,550,000

Sanford Hall Renovation                                                                                            19,000,000

Residence Hall, Phase XIV                                                                                        45,829,000

           

Western Carolina University     

Brown Building Renovation and Addition                                                                   22,510,000

 

SECTION 3.  At the request of the Board of Governors of The University of North Carolina and upon determining that it is in the best interest of the State to do so, the Director of the Budget may authorize an increase or decrease in the cost of, or a change in the method of, funding the projects authorized by this act. In determining whether to authorize a change in cost or funding, the Director of the Budget may consult with the Joint Legislative Commission on Governmental Operations.

SECTION 4.  Pursuant to G.S. 116D‑26, the Board of Governors may issue, subject to the approval of the Director of the Budget, at one time or from time to time, special obligation bonds of the Board of Governors for the purpose of paying all or any part of the cost of acquiring, constructing, or providing for the projects authorized by Section 2 of this act. The maximum principal amount of bonds to be issued shall not exceed the specified project costs in Section 2 of this act plus five percent (5%) of such amount to pay issuance expenses, fund reserve funds, pay capitalized interest and pay other related additional costs, plus any increase in the specific project costs authorized by the Director of the Budget pursuant to Section 3 of this act.

SECTION 5.  This act is effective when it becomes law.

In the General Assembly read three times and ratified this the 1st day of July, 2014.

 

 

                                                                    s/  Daniel J. Forest

                                                                         President of the Senate

 

 

                                                                    s/  Thom Tillis

                                                                         Speaker of the House of Representatives

 

 

                                                                    s/  Pat McCrory

                                                                         Governor

 

 

Approved 4:16 p.m. this 7th day of July, 2014