June 16, 2010: UNC Bonds: The Senate voted 46-0 Monday to approve $542 million in construction bonds for projects spread throughout the UNC system. The bonds are to be repaid by the institutions “from gifts, grants, receipts,” and other sources of revenue, but not from “funds received for tuition or appropriated from the General Fund of the State.”
In other words, the projects are meant to pay for themselves. The debt would be used to fund, among other things, improvements to Kenan Stadium at UNC-Chapel Hill, a football complex at UNC-Charlotte, and the renovation and expansion of Talley Student Center at N.C. State University. The bill now heads to the House for consideration.