North Carolina SB 1010: School of Arts.

Bill Text

GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1995

S 1

SENATE BILL 1010

Short Title: School of Arts. (Public)

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Sponsors: Senators McDaniel, Horton, Cochrane, Carrington, Kincaid, Gulley, Foxx,
Blackmon, Simpson, Winner, Lucas, and Carpenter.

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Referred to: Appropriations

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May 4, 1995

A BILL TO BE ENTITLED 1
AN ACT TO PROVIDE THAT THE FACILITIES AND EQUIPMENT OF THE 2
NORTH CAROLINA SCHOOL OF THE ARTS MAY BE LEASED TO A 3
PRIVATE ENTITY AT A FAIR MARKET RATE AND THE LEASE REVENUE 4
DEPOSITED INTO THE ENDOWMENT FUND FOR THE SCHOOL OF THE 5
ARTS. 6
The General Assembly of North Carolina enacts: 7
Section 1. Article 4 of Chapter 116 of the General Statutes is amended by 8
adding a new section to read: 9
"§ 116-66.1. Lease of school facilities and equipment. 10
Subject to the approval of the Chancellor and the Board of Trustees of the school, the 11
school facilities and equipment may be leased to a private entity at a fair market rate. 12
The lease revenue shall be collected by the school and shall be deposited in the 13
endowment fund created in accordance with G.S. 116-68." 14
Sec. 2. This act becomes effective July 1, 1995. 15