Tuition and general student fees will not be used to repay the bonds. Proportionately, campuses with smaller enrollments will see a larger share of their needs met with these bonds. In North Carolina, education is central to our quality of life. Our educational and economic opportunities are directly linked to the quality of our community colleges and universities. And if we aren't using our campuses to train and educate the best workers, we aren't going to be able to attract the best jobs.
Companies come here because of our universities and community colleges.
So, failing to pass the bonds will hurt economic development, the creation of new jobs and businesses' ability to compete globally. There will be an independent Oversight Committee, created by the legislature, which will monitor spending closely, making sure the money goes where it should. By law, it will be paid in amounts that will enable community colleges and universities to manage the upgrades efficiently. They will be repaid over a 25-year period, allowing the state to pay for the buildings as they are used. County governments have traditionally been responsible for the lion's share of community college construction and renovation.