2002 Session

Budget Amendments - HB30 (Conference Report)

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Port Bond Issuance (language only)

Item 501 #5c

Item 501 #5c

Virginia Port Authority

Page 355, line 49, strike "$131,000,000" and insert "$135,000,000".
Page 355, line 52, after "equipment", insert:
", the purchase of the Physical Oceanographic Real-Time System, and other equipment required to enhance the security and protection of the port properties.  Prior to the issuance of these bonds, the Governor shall provide approval based on the most recent estimates of transportation revenues and project timelines".

(This amendment increases the bond issue by $4.0 million in part to provide funding for terrorism-related equipment and additional port needs. It also provides the Governor with final approval on the issuance of port bonds based on the most recent transportation revenue estimates and project timelines.)