Authority: Title 2.1, Chapter 14, Title 33.1, Chapter 3, Article 5, Code of Virginia; Article X, § 9, Constitution of Virginia.

A. The Director of the Department of Planning and Budget is authorized to transfer appropriations between items in the Treasury Board to address legislation affecting the Treasury Board passed by the 1998 General Assembly.

B.1. Out of the amounts for General Obligation Bond Redemption and Interest, the following amounts are hereby appropriated from the general fund for debt service on general obligation bonds issued pursuant to Article X, § 9(b), of the Constitution of Virginia:

2. Out of the amounts for General Obligation Bond Redemption and Interest and pursuant to Chapters 781, 789, 849, 892, 894, and 896, Acts of Assembly of 1992, the following amounts are hereby appropriated for estimated debt service on general obligation bonds and notes issued in anticipation thereof: $7,979,667 the first year and $8,984,595 the second year from the general fund.

3. Out of the amounts for General Obligation Bond Redemption and Interest, sums needed to fund issuance costs and other financing expenses are hereby appropriated.

C.1. Out of the amounts for Amortization Payments shall be paid to the Virginia College Building Authority the following amounts for use by the Authority for payments on obligations issued under the 21st Century College Program for the financing of projects specified in Item C-7.10 of Chapter 924 of the Acts of Assembly of 1997:

2. Out of the amounts for Amortization Payments shall be paid to the Virginia College Building Authority the following estimated amounts for use by the Authority for payments on obligations issued under the 21st Century College Program for the financing of projects specified in Item C-7.10 of Chapter 924 of the Acts of Assembly of 1997: $5,478,790 the first year and $15,586,041 the second year from the general fund.

D.1. Out of the amounts for Amortization Payments shall be paid to the Virginia College Building Authority the following estimated amounts for use by the Authority for payments on obligations issued pursuant to Item 276 of this act, $7,154,722 the first year and $8,873,177 the second year from the general fund.

2. An additional $22,280,811 from the general fund and $2,422,604 in nongeneral funds is available in each year to support debt service payments on bonds issued prior to 1998. These funds are appropriated within the operating budgets of each institution of higher education.

3. Any unexpended general fund appropriations in Paragraph D.1. not required for debt service shall revert to the surplus of the general fund at the close of business on June 30, 1999.

E.1. Out of the amounts for Amortization Payments shall be paid to the Virginia Public Building Authority the following amounts for use by the Authority for its various bond issues:

2. Out of the amounts for Amortization Payments and pursuant to Chapters 656 and 878, Acts of Assembly of 1991 and 1992, respectively, Chapter 1, Acts of Assembly of 1993, Special Session, Chapter 823, 841, and 835, Acts of Assembly of 1994, 1995, and 1996 respectively, [and any Virginia Public Building Authority projects authorized by the 1998 Session of the General Assembly], the following estimated amounts are hereby appropriated to the Virginia Public Building Authority for use by the Authority: $6,241,308 in the first year and $14,844,313 in the second year from the general fund.

3. Funding is included in this item for the Commonwealth's reimbursement of a portion of the approved capital costs as determined by the Board of Corrections and other interest costs as provided in §§ 53.1-80 through 53.1-82 of the Code of Virginia for the following:

Fairfax Regional Jail

Hampton Roads Regional Jail

Middle Peninsula Regional Jail

Pamunkey Regional jail

Albemarle-Charlottesville Regional Jail

Alleghany/Covington Regional Jail

A. P. Hill Peumansend Creek Regional Jail

Blue Ridge Regional Jail

New River Valley Regional Jail

Rappahannock Regional Jail

Southside Regional Jail and

Staunton-Augusta-Waynesboro Regional Jail.

This paragraph shall constitute the authority for the Virginia Public Building Authority to issue bonds for the foregoing projects, pursuant to § 2.1-234.13, Code of Virginia.

F. Out of the amounts for Bond Amortization Payments, the following amounts are hereby appropriated for capital lease payments:

G. Pursuant to various Payment Agreements between the Treasury Board and the Commonwealth Transportation Board, funds required to pay the debt service due on the following Commonwealth Transportation Board bonds shall be paid to the Trustee for the bondholders by the Treasury Board after transfer of these funds to the Treasury Board from the Commonwealth Transportation Board pursuant to Item 523, Paragraph G of this act and §§ 58.1-815, 58.1-815.1 and 58.1-816.1, Code of Virginia; as follows:

H. Under the authority of this act, an agency may transfer funds to the Treasury Board for use as lease, rental, or debt service payments to be used for any type of financing where the proceeds are used to acquire equipment and to finance associated costs, including but not limited to issuance and other financing costs. In the event such transfers occur, the transfers shall be deemed an appropriation to the Treasury Board for the purpose of making the lease, rental, or debt service payments described herein.

I. Any unexpended balance in the first year appropriation of this Item at the close of business on June 30, 1999, shall be reappropriated in the second year.