GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2025
H 1
HOUSE BILL 268
Short Title: 2025 UNC Self-Liquidating Capital Projects. (Public)
Sponsors: Representatives Hastings and Pickett (Primary Sponsors).
For a complete list of sponsors, refer to the North Carolina General Assembly web site.
Referred to: Higher Education, if favorable, Rules, Calendar, and Operations of the House
March 5, 2025
*H268 -v-1*
A BILL TO BE ENTITLED 1
AN ACT TO AUTHORIZE THE FINANCING, WITHOUT APPROPRIATIONS FROM THE 2
GENERAL FUND OR THE STATE CAPITAL AND INFRASTRUCTURE FUND, O F 3
CERTAIN CAPITAL IMPR OVEMENT PROJECTS OF THE CONSTITUENT 4
INSTITUTIONS OF THE UNIVERSITY OF NORTH CAROLINA. 5
The General Assembly of North Carolina enacts: 6
SECTION 1. The purpose of this act is to authorize the financing of the capital 7
improvement projects listed in this act for the respective institutions of The University of North 8
Carolina with funds available to the institutions from gifts, grants, receipts, self-liquidating 9
indebtedness, Medicare reimbursements for education costs, hospital receipts from patient care, 10
or other funds, or any combination of these funds, but not including funds received for tuition or 11
appropriated from the General Fund or State Capital and Infrastructure Fund of the State unless 12
previously authorized by General Statute. 13
SECTION 2. The capital improvement projects, and their respective costs, 14
authorized by this act to be financed as provided in Section 1 of this act, including by revenue 15
bonds, by special obligation bonds as authorized in Section 4 of this act, or by both, are as 16
follows: 17
18
University of North Carolina at Chapel Hill 19
Electrical Distribution System/Substations & Switchgear Upgrade $14,581,920 20
Fetzer Hall Addition/Campus Recreation $90,000,000 21
22
University of North Carolina at Wilmington 23
Parking Deck III $12,000,000 24
Student Housing Village - Phase III $71,002,458 25
26
SECTION 3. At the request of the Board of Governors of The University of North 27
Carolina and upon determining that it is in the best interest of the State to do so, the Director of 28
the Budget may authorize an increase or decrease in the cost of, or a change in the method of, 29
funding the projects listed in this act. In determining whether to authorize a change in cost or 30
funding, the Director of the Budget may consult with the Joint Legislative Commission on 31
Governmental Operations. 32
SECTION 4. Pursuant to G.S. 116D-26, the Board of Governors may issue, subject 33
to the approval of the Director of the Budget, at one time or from time to time, special obligation 34
bonds of the Board of Governors for the purpose of paying all or any part of the cost of acquiring, 35 General Assembly Of North Carolina Session 2025
Page 2 House Bill 268-First Edition
constructing, or providing for the projects listed in Section 2 of this act. The maximum principal 1
amount of bonds to be issued shall not exceed the specified amounts in Section 2 of this act plus 2
five percent (5%) of such amount to pay issuance expenses, fund reserve funds, pay capitalized 3
interest, and pay other related additional costs plus any increase in the specific project costs 4
authorized by the Director of the Budget pursuant to Section 3 of this act. The amounts specified 5
in Section 2 of this act are not inclusive of other amounts that may have been authorized by an 6
act of the General Assembly for the projects listed. 7
SECTION 5. This act is effective when it becomes law. 8