Notwithstanding G.S. 143-341(4), and in addition to the powers granted in G.S. 116-198.34(5), the Board of Governors may authorize the constituent institutions and The University
of North Carolina System Office to acquire or dispose of real property by lease if
the lease is for a term of not more than 10 years. The Board of Governors shall establish a policy for acquiring and disposing of an
interest in real property for the use of The University of North Carolina and its
constituent institutions by lease. This policy may delegate authorization of the acquisition or disposition of real
property by lease to the boards of trustees of the constituent institutions or to
the President of The University of North Carolina. The Board of Governors shall submit all initial policies adopted pursuant to this
section to the State Property Office for review prior to adoption by the Board. Any subsequent changes to these policies adopted by the Board of Governors shall
be submitted to the State Property Office for review. Any comments by the State Property Office shall be submitted to the President of
The University of North Carolina. After the acquisition or disposition of an interest in real property by lease, The
University of North Carolina shall promptly file a report concerning the acquisition
or disposition to the Secretary of Administration. Acquisitions and dispositions of an interest in real property by lease pursuant
to this section shall not be subject to the provisions of Article 36 of Chapter 143 of the General Statutes or to the provisions of Article 6 or 7 of Chapter 146 of the General Statutes.
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