A BILL TO BE ENTITLED
AN ACT to authorize the issuance of special indebtedness to finance the expansion of the North Carolina Museum of Art.
The General Assembly of North Carolina enacts:
SECTION 1.  In accordance with G.S. 142‑83, this section authorizes the issuance or incurrence of special indebtedness in the maximum aggregate principal amount of fifty million dollars ($50,000,000) to finance the costs of constructing new buildings and pavilions and renovating existing buildings at the North Carolina Museum of Art. The State, with the prior approval of the State Treasurer and the Council of State, as provided in Article 9 of Chapter 142 of the General Statutes, is authorized to issue or incur special indebtedness in order to provide funds to the State to be used, together with other available funds, to pay the costs of constructing and renovating the project described in this section.
SECTION 2.  This act is effective when it becomes law.