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1997 Session

Budget Amendments - SB700 (Conference Report)

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VPBA Technical Correction (language only)

Item 4-4.01 #2c

Item 4-4.01 #2c

Capital Projects
General

Language
Page 434, line 47, after "Authority" strike ", provided that title to the project is" and insert "."
Page 434, strike line 48.


Explanation
(This amendment corrects a technical error in the introduced bill, and allows the Virginia Public Building Authority to finance projects which have already been partially funded under the VPBA lease-backed security structure to be financed under the new VPBA security structure going forward. The old lease-back structure will no longer be used for VPBA financings, and failure to correct this error would result in difficulties financing projects which have already received General Assembly approval and have received partial funding through the sale of bonds.)