§ 115D-58.1. Federal contracts and grants. - North Carolina Statutes

§ 115D‑58.1.  Federal contracts and grants.

The board of trustees of any institution may apply for and acceptgrants from the federal government or any agency thereof, in order to carry outthe institution's mission. In exercising this authority, the board of trusteesmay enter into and carry out contracts with the federal government or anyagency thereof, may agree to and comply with any lawful and reasonablecondition attached to such a grant including, in the case of a grant from theEconomic Development Administration, the granting of a security interest to theEconomic Development Administration in any real property or equipment purchasedwith the grant, limiting the sale or use of the real property or equipment asprescribed by regulations of the Economic Development Administration, and maymake expenditures from any funds so granted. The State Board of CommunityColleges shall adopt rules and regulations governing the application for andthe acceptance of grants under this section. (1981, c. 157, s. 1; 2001‑211, s. 1.)