Bond Proceeds Appropriation

Item C-89.1 #1s

Language
Page 410, after line 14, insert:
"C-89.1 Improvements: Blanket Authorization $0 $88,000,000
Fund Sources: Debt Service $0 $88,000,000."

Explanation
(This amendment provides the Virginia Port Authority the necessary appropriation to spend up to $88.0 million in bond proceeds, $70.0 million of which is expected to be used for capital projects, including the development of Norfolk International Terminals North, and $18.0 million of which is expected to be used to defease the Series 1993 bond.)