1998 Session

Budget Amendments - SB29 (Committee Approved)

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NSU Treas. Loan Repayment (language only)

Item C-36.21 #1s

Item C-36.21 #1s

Education: Higher Education
Norfolk State University

Page 154, strike line 24 and insert:
"C-36.21. Improvements:  Sprinkler System, High-Rise
               Dormitories (15945)                        $759,000      $0
               Fund Sources:  Higher Education Operating          $759,000    $0
Notwithstanding any other provisions of this act, the Director of the Department of Planning and Budget may provide an interest-free treasury loan for this project in anticipation of the receipt of nongeneral funds appropriated to this item.  
The terms of the loan, including repayment schedule, shall be negotiated so as to minimize the impact on student fees. The State Comptroller is directed to repay the treasury loan  from such unobligated, unencumbered general fund balances that may be available on June 30, 1998."

(This amendment provides for the repayment of the treasury loan for the Norfolk State dormitory sprinkler project from general fund balances available at fiscal year end.)