1998 Session

Budget Amendments - SB30 (Committee Approved)

W&M Swem in SB 30

Item C-60.01 #2s

Item C-60.01 #2s

First Year - FY1999 Second Year - FY2000
Education: Higher Education
The College of William and Mary in Virginia FY1999 $17,882,000 FY2000 $0 GF
FY1999 $6,200,000 FY2000 $0 NGF

Page 360, after line 21, insert:
"C-60.01  Improvements:  Swem Library Renovation and
               Addition (15886)             $24,082,000
                Fund Sources:  General          $17,882,000                                              
     Special            $6,200,000
The special fund amount consists of reserve fund proceeds and excess interest earned on Virginia Public Building Authority bonds.  The funds will be available upon certification to the Governor by the Authority that an arbitrage rebate liability calculation has been completed, an affirmative opinion of bond counsel has been received, and excess bond proceeds of the Authority are available."

(This amendment moves the Swem Library capital project from SB 29, where it had been recommended for funding from state-backed 9(d) debt, to SB 30, where it is funded with a combination of general funds and interest earnings from the Virginia Public Building Authority.)