Menu
1999 Session

Budget Amendments - SB800 (Committee Approved)

View Budget Item
View Budget Item amendments

Nova bond GF

Item 523 #19s

Item 523 #19s

First Year - FY1999 Second Year - FY2000
Transportation
Transportation, Department of FY1999 $0 FY2000 $2,350,000 GF

Language
Page 403, line 46, strike "$1,269,496,638" and insert "$1,271,846,638".
Page 405, line 43, strike "The", and insert:
"Pursuant to §58.1-815.1 of the Code of Virginia, and for so long as the Fund is required to support the issuance of bonds, the"
Page 405, line 48, strike "$2,100,000" and insert:  "$4,450,000, pursuant to passage of Senate Bill 1189"
Page 406, line 6-7, strike "Commonwealth Transportation Funds" and insert: "Transportation Trust Funds"
Page 406,  line 7, after "Funds."  insert:   "f)  It is the intent of the General Assembly that in subsequent years, the Northern Virginia Transportation District Program shall be funded such that the Program is able to support its full amount of authorized debt.  The Secretary of Transportation and the Governor shall propose appropriate transportation funding sources that are able to support the Program's full amount of authorized debt."
Page 406, line 9, strike "$366,900,000" and insert: "$466,200,000"
Page 406, line 21, after "1993)" insert: ", and for the purposes provided by the 1999 amendments to the Northern Virginia Transportation District, Commonwealth of Virginia Revenue Bond Act of 1993 (SB 1189
(1999)),"
Page 406, line 26, strike "and,"
Page 406, line 27, after "
1998
," insert: "and for the purposes provided by the 1999 amendments to the Northern Virginia Transportation District, Commonwealth of Virginia Revenue Bond Act of 1993
(SB 1189 (1999)),"
Page 408, line 3, strike $7,120,192" and insert: "$9,470,192"


Explanation
(This amendment provides additional debt service funding of $2,350,000 in general funds to the Northern Virginia Transportation District Fund for the additional $104.3 million in debt authorized pursuant to passage of Senate Bill 1189. This is the estimated additional amount of debt service that will be required to service the estimated amount of additional debt sold in the 1998-2000 biennium for the NVTD program. In addition, previously authorized funding of $3,500,000 in the second year from Commonwealth Transportation Funds will be appropriated from Transportation Trust Funds rather than Commonwealth Transportation Funds.)