GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 1991

CHAPTER 969
SENATE BILL 1200

AN ACT TO AUTHORIZE THE CONSTRUCTION AND THE FINANCING, WITHOUT APPROPRIATIONS FROM THE GENERAL FUND, OF CERTAIN CAPITAL IMPROVEMENTS PROJECTS ON THE CENTENNIAL CAMPUS OF NORTH CAROLINA STATE UNIVERSITY AT RALEIGH.

The General Assembly of North Carolina enacts:

Section 1.  The purpose of this act is to authorize and provide for acquisition and construction, by North Carolina State University at Raleigh, to pay the cost of the capital improvements projects to the Centennial Campus listed in Section 2 of this act, and to authorize the financing of these capital improvements projects with funds available to North Carolina State University at Raleigh from gifts, grants, receipts, self-liquidating indebtedness, or other funds and revenues described in the Centennial Campus Financing Act, Article 21B of Chapter 116 of the General Statutes, or any combination of these funds, but not including funds appropriated from the General Fund of the State.
Sec. 2.  The projects authorized to be acquired, constructed, and financed as provided in Section 1 of this act are as follows:
(1)	Research III Building 	$4,060,400
(2)	Corporate Research Center I Building 	7,350,000
(3)	Corporate Research Center II Building	7,100,000
Sec. 3.  At the request of The University of North Carolina Board of Governors 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 scope of or a change in the method of funding for any project authorized by this act.  In making a determination of whether to authorize a change in scope or funding, the Director of the Budget may consult with the Advisory Budget Commission.  In no event shall appropriations from the General Fund be used for a project authorized by this act.
Sec. 4.  The University Board of Gov. shall provide an annual report to the General Assembly beginning July 1, 1993 on all self-liquidated projects.  The report shall include all receipts, expenditures, balances on hand, amounts estimated to complete each project, source of all receipts, terms and balances of any loans, and the stage of completion of each project.
Sec. 5.  This act is effective upon ratification.
In the General Assembly read three times and ratified this the 16th day of July, 1992.

James C. Gardner
President of the Senate

Daniel Blue, Jr.
Speaker of the House of Representatives