2000 Session

Budget Amendments - SB30 (Conference Report)

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Opportunity Fund/Newport News IDA (language only)

Item 548 #3c

Item 548 #3c

Central Appropriations
Central Appropriations

Page 376, after line 19, insert:
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 IDA is expected to issue bonds to cover the remaining construction costs. The Commonwealth will pay the debt service on the bonds.)