NC S803

Authorizes acquisition or construction of three capital improvement projects at University of North Carolina institutions: Holmes Convocation Center Parking Deck at Appalachian State University ($20,000,000), New Residence Hall at Elizabeth City State University ($5,000,000), and Integrated Sciences (S.T.E.M.) Building at North Carolina State University ($80,000,000)

Projects must be financed without appropriations from the General Fund, using available institutional funds from gifts, grants, receipts, self-liquidating indebtedness, Medicare reimbursements, hospital patient care receipts, or other non-tuition sources

Authorizes Board of Governors to issue special obligation bonds, subject to Director of the Budget approval, to pay project costs with maximum principal amount not exceeding specified project costs plus 5% for issuance expenses, reserve funds, capitalized interest, and related costs

Allows Director of the Budget to authorize increases or decreases in project costs or changes in funding methods upon Board of Governors request, with optional consultation with Joint Legislative Commission on Governmental Operations

Becomes effective upon enactment