NC H912

Authorizes financing of capital improvement projects for four University of North Carolina institutions totaling $471.6 million without appropriations from the General Fund or State Capital and Infrastructure Fund.

Funds must come from institutional sources including gifts, grants, receipts, self-liquidating indebtedness, Medicare reimbursements, hospital patient care receipts, or revenue bonds.

Projects authorized: East Carolina University Jones Hall/Legacy Hall renovation ($60 million), Fayetteville State University dormitories ($6 million), UNC Chapel Hill chilled water infrastructure expansion ($102.6 million) and translational research building ($205.6 million), and UNC Wilmington Seahawk Housing Complex acquisition ($97.4 million).

Board of Governors may issue special obligation bonds up to the specified amounts plus 5% for issuance expenses, reserve funds, capitalized interest, and related costs.

Director of the Budget may authorize increases or decreases in project costs or funding methods upon Board of Governors request; became effective June 28, 2024.