§ 116-175. Definitions. - North Carolina Statutes

Article19.

Revenue Bonds for StudentHousing.

§ 116‑175.  Definitions.

As used in this Article, thefollowing words and terms shall have the following meanings, unless the contextshall indicate another or different meaning or intent.

(1)        The word "Board"shall mean the Board of Governors of the University of North Carolina.

(2)        The word"cost" as applied to a project shall include the cost of acquisitionor construction, the cost of all labor, materials and equipment, the cost ofall lands, property, rights and easements acquired, financing charges, interestprior to and during construction and, if deemed advisable by the Board, for oneyear after completion of construction, cost of plans and specifications,surveys and estimates of cost and/or revenues, cost of engineering and legalservices, and all other expenses necessary or incident to such acquisition orconstruction, administrative expense and such other expenses, includingreasonable provision for initial operating expenses, as may be necessary orincident to the financing herein authorized. Any obligation or expense incurredby the Board prior to the issuance of bonds under the provisions of thisArticle in connection with any of the  foregoing items of cost may be regardedas a part of such cost.

(3)        The word"institution" shall mean each of the institutions enumerated in G.S.116‑2.

(4)        The word"project" shall mean and shall include any one or more buildings forstudent housing of any size or type approved by the Board of Governors of theUniversity of North Carolina, and the Director of the Budget, and anyenlargements or improvements thereof or additions thereto, so approved for thehousing of students at either institution, together with the necessary land andequipment. The approval of a project by the Board of Governors of theUniversity of North Carolina and the Director of the Budget shall specify atime within which construction contracts shall be awarded. (1957,c. 1131, s. 1; 1963, cc. 421, 422; c. 448, s. 20.1; c. 1158, ss. 1, 11/2; 1965,c. 31, s. 3; 1967, c. 1038; 1969, c. 297, s. 7; c. 388; c. 608, s. 1; c. 801,ss. 2‑4; 1971, c. 1244, s. 16; 1983, c. 577, s. 6.)