2001 Session

Budget Amendments - SB800 (Member Request)

Chief Patron: Williams
TNCC - Peninsula Workforce Center

Item C-104.40 #10s

Item C-104.40 #10s

First Year - FY2001 Second Year - FY2002
Education: Higher Education
Virginia Community College System FY2001 $0 FY2002 $11,000,000 NGF

Page 538,  after line 3,  insert:
"The Virginia College Building Authority is authorized to issue bonds to finance or refinance this project.  Upon completion of the financing, an amount equal to the pro rata share of the debt service on bonds allocable to the project, but not in excess of the amount specified in paragraph R.1. of Item 227, shall be transferred to Item 291 herein.  The local match provisions of Item 227 R.4 shall continue in effect."

"C-104.40 Virginia Peninsula Workforce Development Center
Fund Sources: Bond Proceeds

(This amendment provides for the refinancing of the Virginia Peninsula Workforce Center through the Virginia College Building Authority. The refinancing would replace a capital lease-purchase agreement.)