North Carolina § 116D-6 - Short title.

§ 116D-6. Short title.

This Article may be cited as the University Improvement General Obligation Bonds Finance Act. History (2000-3, s. 1.2.) Editor's Note. - As to the interpretation and implementation of the Michael K. Hooker Higher Education Facilities Financing Act, Session Laws 2000-3, see the Editor's Note under G.S. 116D-1. Session Laws 2000-3, s. 2(a), as amended by Session Laws 2001-424, s. 31.9, Session Laws 2002-126, s. 9.3, Session Laws 2003-284, s. 9.3, Session Laws 2006-146, ss. 3.1-3.3, Session Laws 2007-394, ss. 8 and 9, and by Session Laws 2008-204, s. 2, directs that the proceeds of university improvement general obligation bonds and notes, including any premium thereon, except the proceeds of university improvement general obligation bonds the issuance of which has been anticipated by bond anticipation notes or the proceeds of refunding bonds or notes, are to be allocated and expended for paying the cost of university capital facilities, to the extent and as provided in Article 2 of Chapter 116D of the General Statutes, as enacted by the act and subject to change as provided in the act, and sets out a schedule of allocations for each of the constituent or affiliated institutions. Session Laws 2000-3, s. 2(b), authorizes the Director of the Budget to use excess funds to meet increased costs of other capital facilities located at the same institution, where the cost of a particular capital facility is less than the amount allocated for it and to do so would be in the best interest of the State and the University, and directs the Director to report to the Joint Legislative Commission on Governmental Operations on any such changes. Section 2(b) further authorizes the General Assembly, in its discretion, from time to time, to change any capital facility and the amount of the allocation for it set forth in the act. The provisions of G.S. 116-11(9) with respect to appropriations to the Board of Governors of The University of North Carolina do not apply to proceeds of university improvement general obligation bonds and notes issued pursuant to Article 2 of Chapter 116D of the General Statutes, as enacted by the act. Session Laws 2000-3, s. 2(c), provides that allocations to the costs of a capital improvement or undertaking in each case may include allocations to pay the costs set forth in the act in connection with the issuance of university improvement general obligation bonds for that capital improvement or undertaking. Session Laws 2000-3, s. 2(d), provides that the validity of university improvement general obligation bonds and notes issued under Article 2 of Chapter 116D of the General Statutes, as enacted by the act, is not affected by any subsequent adjustment of allocations, or by any failure to comply with the reporting requirements provided in the act. Session Laws 2000-3, s. 2(e), provides that bond proceeds allocated to the reserve for repairs and renovations and cost overruns are to be used only for repairs and renovations for institutions listed in the section and for additional costs needed for projects listed due to cost overruns. The subsection authorizes the Board of Governors, subject to the approval of the Director of Budget, to determine the capital facilities for which bond proceeds in the reserve may be used. The Board of Governors is directed to include the details of all allocations made pursuant to this subsection in its periodic reports under G.S. 116D-3 to the Joint Legislative Commission on Governmental Operations. Session Laws 2000-3, s. 2(f), provides that it is the intent of the General Assembly that every effort be made to preserve the architectural and historic fabric of the buildings being renovated pursuant to the section. Session Laws 2001-424, s. 1.2, provides: "This act shall be known as the 'Current Operations and Capital Improvements Appropriations Act of 2001.'" Session Laws 2001-424, s. 36.3, provides: "Except for statutory changes or other provisions that clearly indicate an intention to have effects beyond the 2001-2003 fiscal biennium, the textual provisions of this act apply only to funds appropriated for, and activities occurring during, the 2001-2003 fiscal biennium." Session Laws 2001-424, s. 36.5, is a severability clause. Session Laws 2002-126, s. 1.2, provides: "This act shall be known as 'The Current Operations, Capital Improvements, and Finance Act of 2002'." Session Laws 2002-126, s. 31.3, provides: "Except for statutory changes or other provisions that clearly indicate an intention to have effects beyond the 2002-2003 fiscal year, the textual provisions of this act apply only to funds appropriated for, and activities occurring during, the 2002-2003 fiscal year. For example, uncodified provisions of this act relating to the Medicaid program apply only to the 2002-2003 fiscal year." Session Laws 2002-126, s. 31.6, is a severability clause. Session Laws 2003-284, s. 1.2, provides: "This act shall be known as the 'Current Operations and Capital Improvements Appropriations Act of 2003'." Session Laws 2003-284, s. 49.3, provides: "Except for statutory changes or other provisions that clearly indicate an intention to have effects beyond the 2003-2005 fiscal biennium, the textual provisions of this act apply only to funds appropriated for, and activities occurring during, the 2003-2005 fiscal biennium." Session Laws 2003-284, s. 49.5, is a severability clause. Session Laws 2008-204, ss. 1.1 through 1.9, authorizes construction of specified improvement projects at University of North Carolina constituent institutions and the funding therefore. Session Laws 2008-204, s. 1.6, provides: "With respect to the University of North Carolina at Chapel Hill's Research Resource Facility - Phase III capital project, East Carolina University's Athletic Facilities Expansion and Improvements capital project, and North Carolina State University's Avent Ferry Administration Center Renovation capital project, the institution may accomplish construction and financing notwithstanding the requirement in G.S. 116D-22(5) as to location at the institution." Session Laws 2008-208, s. 1.9, provides: "With respect to the University of North Carolina at Chapel Hill's Cogeneration and Steam Infrastructure Improvements and Expansion capital project, the institution may accomplish the construction and financing of the Landfill Gas Utilization portion thereof notwithstanding the requirement in G.S. 116D-22(5) as to location of the special obligation project at the institution. The University of North Carolina at Chapel Hill may enter into any other required agreements as necessary for the completion of the improvements, notwithstanding any other provisions of the General Statutes governing such acquisition, negotiation, and execution of such rights-of-way, easements, leases, or other required agreements therefor."