Item C-7.10 | First Year - FY1997 | Second Year - FY1998 |
|---|---|---|
21st Century College Program (15867) | $123,375,000 | $81,500,000 |
| Fund Sources: | ||
| Higher Education Operating | FY1997 $41,875,000 | FY1998 $0 |
| Debt Service | FY1997 $81,500,000 | FY1998 $81,500,000 |
A. The General Assembly hereby authorizes the following capital projects, which may be supported in whole, or in part, through bonds of the Virginia College Building Authority, pursuant to § 23-15 23-30.24 et seq., Code of Virginia, and any amendments thereto by the 1996, or subsequent sessions, of the General Assembly. The projects provided for in this item may generally be referred to as the 21st Century College Trust Fund College Program.
| Project | State Share | Other | Total |
General Obligation Bond Supplements
| ODU Oceanography (14692) | $1,200,000 | $1,200,000 | |
| JMU CISAT Equipment & Foundation (15362) | $2,500,000 | $2,500,000 | |
| CVC Library (13350) | $1,200,000 | $1,200,000 | |
| CVC Zehmer Education Center (14324) | $1,570,000 | $1,570,000 |
George Mason University
| Prince William Institute, Phase II (15659) | $15,900,000 | $1,800,000 | $17,700,000 |
James Madison University
| College of Integrated Science & Technology, Phase II Infrastructure (15660) | $12,225,000 | $12,225,000 |
Mary Washington College
| Stafford Campus (15613) | $8,000,000 | $8,000,000 |
Old Dominion University
| TeleTechNet Center (15519) | $12,200,000 | $12,200,000 | |
| Virginia Beach Campus Center (15820) | $14,900,000 | $14,900,000 |
Radford University
| Waldron College of Health Sciences Facility (15912) | $7,500,000 | $7,500,000 |
Virginia Community College System
| Information Technology Infrastructure (15847) | $3,000,000 | $3,000,000 | |
| Mechanical, Heat Pump, Roof Repairs (14346/15644) | $6,920,000 | $6,920,000 | |
| Midlothian Campus, Phase I, John Tyler (15396) | $9,300,000 | $9,300,000 | |
| Western Campus, Phase II, J. Sargeant Reynolds (15690) | $4,500,000 | $4,500,000 | |
| Humanities Building Supplement, Piedmont Virginia (15311) | $1,600,000 | $289,500 | $1,889,500 |
| Economic Development Centers (2), Southside Virginia (14212/14470) | $3,400,000 | $68,500 | $3,468,500 |
| Campus Wide Renovations, Danville (15507) | $2,200,000 | $2,200,000 | |
| Learning Resource Center, Wytheville (14879) | $3,442,000 | $3,442,000 | |
| Franklin Renovations, P.D. Camp (14831) | $1,894,000 | $1,894,000 | |
| Instructional Support Building, Thomas Nelson (15509) | $7,400,000 | $367,000 | $7,767,000 |
| Campus Renovations, D.S. Lancaster (15913) | $1,300,000 | $1,300,000 | |
| Loudoun Campus, Phase II, Northern Virginia (14844) | $5,900,000 | $5,900,000 | |
| Fauquier Campus, Phase I, Lord Fairfax (15680) | $7,196,000 | $7,196,000 |
University of Virginia
| Health Sciences Library Basement Renovation & Addition (15852) | $5,500,000 | $5,500,000 | |
| Chemistry Building Chillers (15914) | $1,500,000 | $1,500,000 |
Virginia Polytechnic Institute & State University
| Advanced Communications Center (15747) | $10,000,000 | $14,450,000 | $24,450,000 |
Virginia Commonwealth University
| Engineering School Clean Room (15717) | $11,000,000 | $11,000,000 |
Christopher Newport University
| Ferguson Renovations, Phase I & II (15858) | $2,400,000 | $2,400,000 | |
| Performing Arts Center (15915) | $5,000,000 | $10,000,000 | $15,000,000 |
Longwood College
| Hiner Renovation (15500) | $4,318,000 | $4,318,000 |
Norfolk State University
| Maintenance Building Renovation/Addition (14726) | $1,700,000 | $1,700,000 |
Virginia State University
| Vawter Hall Renovation (15132) | $1,235,000 | $1,235,000 | |
| Total | $163,000,000 | $41,875,000 | $204,875,000 |
B. It shall be the duty of the Governor, through the Secretary of Finance, the State Treasurer, and the affected and related state agencies and institutions, to implement the provisions of this item in a manner consistent with prudent debt management principles and practices, over a period of time, to assure the highest credit worthiness and bond ratings which may reasonably be available, to further the purposes of this item.
C. Debt service on the state share portion of the projects contained in this item shall be provided from appropriations to the Treasury Board, which are contained in Item 287 of this act. Debt service on the other portion of the projects provided for herein shall be paid to the Virginia College Building Authority, from Higher Education Operating and Trust and Agency appropriations to the agencies and institutions.
D. The General Assembly further declares and directs that, notwithstanding any other provision of law to the contrary, 50 percent of the proceeds from the sale of surplus real property pursuant to §2.1-504, Code of Virginia, et seq., which pertain to the general fund, and which were under the control of an institution of higher education prior to the sale, shall be deposited in a special fund set up on the books of the Comptroller, which shall be known as the Higher Education Capital Projects Fund. Such sums shall be held in reserve, and may be used, upon appropriation, to pay debt service on bonds for the 21st Century College Trust Fund Program.