1999 Session

Budget Amendments - HB1450 (Committee Approved)

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No.Va. Bond Debt Service (language only)

Item 523 #6h

Item 523 #6h

Transportation, Department of

Page 406, line 6, strike "$3,500,000" and insert "$6,100,000"
Page 406, line 7, after "Funds." insert:  
"This amount, when added to other deposits in the Fund, is sufficient to support existing bond issuances and is sufficient to partially support in the second year the issuance of an additional $104,300,000 in bonds authorized in House Bill 2088.  It is the intent of the General Assembly to appropriate in fiscal year 2001, and in succeeding fiscal years, as necessary, the full annual debt service requirement of the additional $104,300,000 in bonds."

(This amendment provides an additional $2.6 million in transportation revenues in the second year for debt service on $104.3 million in additional bonds for the Northern Virginia Transportation Program as authorized in House Bill 2088. A companion amendment provides the same amount for debt service on the same amount of bonds for the Route 58 Corridor Development Program.)