Senate Bill 733 Summary

• Authorizes acquisition or construction of three capital improvement projects at University of North Carolina institutions without appropriations from the General Fund.

• UNC Chapel Hill: $22,000,000 for Morehead Chemistry Laboratory HVAC Upgrades and $6,500,000 for Campus-Wide Life Safety Upgrades – Phase 1.

• Western Carolina University: $20,000,000 for Lower Campus Residence Halls – Phase 2.

• Projects may be financed through gifts, grants, receipts, self-liquidating indebtedness, Medicare reimbursements, hospital receipts, special obligation bonds, or revenue bonds, but not tuition or General Fund appropriations.

• Board of Governors may issue special obligation bonds up to project costs plus 5% for issuance expenses, reserve funds, capitalized interest, and related costs, subject to Director of the Budget approval.