1997 Session

Budget Amendments - HB1600 (Committee Approved)

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Change GF to CTF (language only)

Item 526 #1h

Item 526 #1h

Virginia Port Authority

Page 345, strike lines 23 through 26 and insert "hereby appropriated a sum sufficient first from the Commonwealth Transportation Fund and then from the general fund to provide for this debt service.  Total debt service during the second year on the bonds referenced in this Paragraph A. is estimated at $13,981,996."

(This amendment inserts the Commonwealth Transportation Fund as the first guarantor of bonds already issued for the Virginia Port Authority. The second guarantor would be the general fund. At the request of the Governor, the Virginia Port Authority was made a 100 percent nongeneral fund agency of the Transportation Secretariat in the 1996 Session of the General Assembly. The Commonwealth Transportation Fund will total about $1.6 billion in fiscal year 1997, according to latest official estimates.)