A BILL TO BE ENTITLED
AN ACT TO AUTHORIZE THE acquisition or 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:

Statement of purpose
SECTION 1.  The purpose of this act is to authorize (i) the acquisition or construction of the capital improvements projects listed in this act for the respective institutions of The University of North Carolina and (ii) the financing of these projects with funds available to the institutions from gifts, grants, receipts, self‑liquidating indebtedness, Medicare reimbursements for education costs, hospital receipts from patient care, or other funds, or any combination of these funds, but not including funds received for tuition or appropriated from the General Fund of the State unless previously authorized by General Statute.
SECTION 2.(a)  The capital improvements projects and their respective costs authorized by this act to be constructed and financed as provided in Section 1 of this act, including by revenue bonds, by special obligation bonds as authorized in Section 4 of this act, or by both, are as follows:

Appalachian State University
Anne Belk Hall Renovations	$ 4,000,000
Soccer Field to Field Hockey Renovation	1,500,000

East Carolina University
Belk Residence Hall Demolition and Reconstruction – Supplement	16,000,000
Women and Children's Clinic Facility	71,605,960

North Carolina A&T State University
New Student Center	90,000,000

North Carolina State University
Carmichael Locker Room Renovation	7,600,000

The University of North Carolina at Chapel Hill
Rizzo Center Phase III Acquisition	36,000,000
Odum Village Replacement	25,000,000
Craige Parking Deck – Supplement	4,000,000

The University of North Carolina at Charlotte
Holshouser Hall Renovation	16,000,000
Oak Hall Renovation, Phase V	8,900,000
Residence Hall, Phase XIII	34,750,000

The University of North Carolina at Greensboro
Spartan Village Phase I Acquisition	67,000,000

Western Carolina University
Upper Campus New Residence Hall	48,000,000

Winston‑Salem State University
New Residence Hall – Freshmen Living/Learning	20,800,000

SECTION 2.(b)  Before undertaking a project authorized by this section or undertaking the associated cost and no later than October 1, 2013, the Board of Governors of The University of North Carolina shall prepare an estimate and shall report the estimate to the Joint Legislative Commission on Governmental Operations. The estimate shall include all of the following:
(1)	The total anticipated cost associated with each project.
(2)	The resources being pledged for each project, including (i) the preceding five fiscal years of any revenue stream anticipated to be obligated and current expenditures and obligations associated with each such revenue stream and (ii) a forecast of not less than five fiscal years of any revenue stream anticipated to be newly obligated or anticipated to be obligated to a greater extent for purposes of financing the project.
(3)	Anticipated term, interest rate, structure, and debt servicing schedule of any financing of costs for each authorized project.
(4)	Anticipated operating costs associated with each project for not less than five fiscal years, including the source of the funds.
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 Section 2 of 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 five percent (5%) of such amount to pay issuance expenses, fund reserve funds, pay capitalized interest, and pay other related additional costs, plus any increase in the specific project costs authorized by the Director of the Budget pursuant to Section 3 of this act.
SECTION 5.  This act is effective when it becomes law.