GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 1997
SESSION LAW 1998-72
AN ACT TO ALLOW COMMUNITY COLLEGES TO USE THE PROCEEDS FROM THE SALE OR LEASE OF DONATED PROPERTY FOR SPECIFIC EDUCATIONAL PURPOSES.
The General Assembly of North Carolina enacts:
Section 1. G.S. 115D-15 reads are rewritten:
"§
115D-15. Sale, exchange or lease of property. property; use of
proceeds from donated property.
(a) When in the
opinion of the board of trustees of any institution organized under the
provisions of this Chapter, the use of any property, real or personal, real
or personal property owned or held by said the board of
trustees is unnecessary or undesirable for the purposes of said the institution,
the board of trustees, subject to prior approval of the State Board of
Community Colleges, may sell, exchange, or lease such the property
in the same manner as is provided by law for the sale, exchange, or lease of
school property by county or city boards of education or in accordance with provisions
of G.S. 160A-274. The proceeds of any such sale or lease shall be
used for capital outlay purposes. purposes, except as provided in
subsection (b) of this section.
(b) Subject to rules adopted by the State Board, if real or personal property is donated to a community college to support a specific educational purpose, the board of trustees may use the proceeds from the sale or lease of the property according to the terms of the donation. The board of trustees shall use the procedures authorized under Article 12 of Chapter 160A of the General Statutes when selling or leasing property under this subsection."
Section 2. Prior to January 1, 1999, the State Board of Community Colleges shall adopt rules to implement this act.
Section 3. This act is effective when it becomes law.
In the General Assembly read three times and ratified this the 28th day of July, 1998.
s/ Marc Basnight
President Pro Tempore of the Senate
s/ Harold J. Brubaker
Speaker of the House of Representatives
s/ James B. Hunt, Jr.
Governor
Approved 9:45 p.m. this 30th day of July, 1998