State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_116D > GS_116D-9

§ 116D‑9. Designation of capital facilities and preconditions to bond issuance.

The capital facilities to be financed in whole or in part with theproceeds of university improvement general obligation bonds shall be set forthin legislation enacted from time to time by the General Assembly. Thislegislation shall also provide for voter approval of the bonds to finance thecapital facilities and shall become effective only upon approval by the voters.The proceeds of university improvement general obligation bonds shall not beexpended to pay the costs of any capital facilities other than those set forthin that legislation. (2000‑3, s. 1.2.)