2000 Session

Budget Amendments - HB29 (Conference Report)

View Budget Item
View Budget Item amendments

Opportunity Fund/Newport News IDA (language only)

Item 547 #6c

Item 547 #6c

Central Appropriations
Central Appropriations

Page 464, line 24, strike "N." and insert "N.1."
Page 464, after line 35, insert:
"2.  Prior to the issuance of bonds by the City of Newport News Industrial Development Authority, the Governor is authorized to use unobligated balances to meet any unanticipated expense associated with the Commonwealth's share of the cost of the Virginia Advanced Shipbuilding and Carrier Integration Center."

(This amendment permits the Governor to use unobligated balances from the Opportunity Fund to meet unanticipated expenses associated with the state's share of the Carrier Integration Center. The Newport News Industrial Development Authority is expected to issue bonds to cover the remaining construction costs. The Commonwealth will pay the debt service on the bonds.)