State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_116D > GS_116D-5

§ 116D‑5.  HigherEducation Bond Oversight Committee.

(a)        Creation andMembership. – The Higher Education Bond Oversight Committee is established. TheCommittee shall be located administratively in the General Assembly. TheCommittee shall consist of 10 members appointed as provided below. In makingappointments, each appointing officer shall select members who have appropriateexperience and knowledge of the issues to be examined by the Committee andshall strive to ensure geographical diversity among the membership.

(1)        Three members shallbe appointed by the Speaker of the House of Representatives.

(2)        Three members shallbe appointed by the President Pro Tempore of the Senate.

(3)        Two members shall beappointed by the Chair of the Board of Governors of The University of NorthCarolina.

(4)        Two members shall beappointed by the Chair of the State Board of Community Colleges.

(b)        Terms. – Terms onthe Committee are for three years and begin on January 15, except the terms ofthe initial members, which begin on appointment. A member continues to serveuntil a successor is appointed. A vacancy shall be filled within 30 days by theofficer who made the original appointment.

(c)        Duties. – TheCommittee shall:

(1)        Call for reports andpresentations from the following parties and convene for the purpose of hearingfrom the following parties:

a.         The UniversityFacilities Office of each institution of The University of North Carolina.

b.         The FacilitiesOffice of the General Administration of The University of North Carolina.

c.         The StateConstruction Office of the Department of Administration.

d.         The president ofeach community college, or the president's designee.

e.         The Administrativeand Facilities Services Section of the North Carolina Community College SystemOffice.

f.          The StateTreasurer.

(2)        Analyze and preparerecommendations, based on the information received under subdivision (1) ofthis subsection, concerning the following issues:

a.         Whether expendituresof the proceeds from the bonds issued under the Michael K. Hooker HigherEducation Facilities Financing Act, S.L. 2000‑3, are in compliance withthe provisions of the Michael K. Hooker Higher Education Facilities FinancingAct, S.L. 2000‑3.

b.         Whether the awardedcontracts are consistent with the budget and scope of the approved projects.

c.         Whether changes inconstruction methods could enhance cost savings and promotion of on‑timecompletion of projects.

d.         Whether the bondissuances are adequately timed to reflect cash‑flow requirements of theprojects.

(d)        Reports. – TheCommittee shall report annually to the Board of Governors of The University ofNorth Carolina, the State Board of Community Colleges, and the JointLegislative Commission on Governmental Operations.

(e)        Organization. – ThePresident Pro Tempore of the Senate and the Speaker of the House ofRepresentatives shall each designate a cochair of the Committee. The Committeeshall meet at least twice a year upon the joint call of the cochairs. A quorumof the Committee is six members. No action may be taken except by a majorityvote at a meeting at which a quorum is present.

(f)         Funding. – Fromfunds available to the General Assembly, the Legislative Services Commissionshall allocate monies to fund the work of the Higher Education Bond OversightCommittee. Members of the Committee receive subsistence and travel expenses asprovided in G.S. 120‑3.1 and G.S. 138‑5.

(g)        Staff. – TheLegislative Services Commission, through the Legislative Services Officer,shall assign professional staff to assist the Committee in its work. Upon thedirection of the Legislative Services Commission, the Supervisors of Clerks ofthe Senate and of the House of Representatives shall assign clerical staff tothe Committee. The expenses for clerical employees shall be borne by theCommittee.

(h)        Expiration. – TheHigher Education Bond Oversight Committee terminates upon completion of allprojects funded by bond proceeds issued under the Michael K. Hooker HigherEducation Facilities Financing Act, S.L. 2000‑3.  (2000‑3, s. 4(a)‑(h);2008‑84, ss. 1, 2.)