GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2001

SESSION LAW 2001-463
SENATE BILL 968

AN ACT TO AUTHORIZE THE 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:  (i) to authorize the construction by certain constituent institutions of The University of North Carolina of the capital improvements projects listed in the act for the respective institutions, and (ii) to authorize the financing of these projects with funds available to the institutions from gifts, grants, receipts, self‑liquidating indebtedness, or other funds, or any combination of these funds, but not including funds appropriated from the General Fund of the State.
SECTION 2.  The capital improvements projects, and their respective costs, authorized by this act to be constructed and financed as provided in Section 1 and Section 5 of this act, are as follows:

1.	Appalachian State University
Student Recreation Complex	$19,530,000
Renovation and Addition to Miles Annas Student	
Support Facility	1,977,000

2.	East Carolina University
Baseball Stadium	$8,700,000

3.	North Carolina A&T State University
Student Union Renovation and Modernization	$3,600,000
Stadium Track and Field Upgrade	2,065,000
Reid Greenhouse	2,500,000

4.	North Carolina Central University
Shepard House Restoration	$685,000

5.	North Carolina State University
Alumni Center	$12,500,000
Carter Finley Stadium Improvements	50,000,000
Center for Educational Innovation	9,000,000
Greek Housing Renovations	8,000,000
Upgrade Baseball and Tennis Facilities	4,000,000
Welcome and Visitor Center	4,960,000
Residence Halls Fire Safety Improvements	1,300,000
Support Services Center ‑ Supplement	2,000,000

6.	The University of North Carolina at Chapel Hill
Ramshead Complex for Parking and Student Support	$44,000,000
Renovations to Connor, Winston, and Alexander	
Residence Halls	10,000,000

7.	The University of North Carolina at Charlotte
Recreation Field Lighting	$930,100

8.	The University of North Carolina at Greensboro
Parking Deck ‑ Supplement	$2,500,000
Renovations to Residence Halls	4,950,000

9.	Western Carolina University
Improvements to Athletic and Student Recreation Facilities	$8,192,100

10.	Winston‑Salem State University
Renovations to Residence Halls	$3,100,000

TOTAL	$204,489,200

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 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 six million three hundred thousand dollars ($6,300,000) for related additional costs, such as issuance expenses, funding of reserve funds, and capitalized interest.
SECTION 5.  With respect to two capital projects at North Carolina State University, the Alumni Center and the Carter Finley Stadium improvements listed in Section 2 of this act, the institution may accomplish construction and financing through lease arrangements to and from nonprofit corporations, as follows:
(1)	Alumni Center through lease with The North Carolina State University Alumni Association, Inc.
(2)	Carter Finley Stadium improvements through lease with The North Carolina State University Student Aid Association, Inc.
The financing of these projects shall not constitute a debt or liability of the State or any political subdivision of the State or a pledge of the faith and credit of the State or of any political subdivision of the State. Any lease or other obligation for these projects shall not be paid from funds appropriated to the Board of Governors or any constituent institution from the General Fund by the General Assembly from funds derived from general tax and other revenues of the State.

SECTION 6.  This act is effective when it becomes law.
In the General Assembly read three times and ratified this the 16th day of November, 2001.

	s/	 Beverly E. Perdue
	 President of the Senate

	s/	 James B. Black
	 Speaker of the House of Representatives

	s/	 Michael F. Easley
	 Governor

Approved 11:52 a.m. this 16th day of November, 2001