Item 296 | First Year - FY2003 | Second Year - FY2004 |
|---|---|---|
| Bond and Loan Retirement and Redemption (74300) | $259,335,695 | $261,603,658 |
| General Obligation Bond Redemption and Interest (74301) | FY2003 $50,845,777 | FY2004 $49,298,355 |
| Amortization Payments (74302) | FY2003 $208,489,918 | FY2004 $212,305,303 |
| Fund Sources: | ||
| General | FY2003 $252,658,255 | FY2004 $254,926,218 |
| Special | FY2003 $4,254,836 | FY2004 $4,254,836 |
| Higher Education Operating | FY2003 $2,422,604 | FY2004 $2,422,604 |
Authority: Title 2.2, Chapter 18; Title 33.1, Chapter 3, Article 5, Code of Virginia; Article X, Section 9, Constitution of Virginia.
A. The Director of the Department of Planning and Budget is authorized to transfer appropriations between items in the Treasury Board to address legislation affecting the Treasury Board passed by the General Assembly.
B.1. Out of the amounts for General Obligation Bond Redemption and Interest, the following amounts are hereby appropriated from the general fund for debt service on general obligation bonds issued pursuant to Article X, Section 9 (b), of the Constitution of Virginia:
| Series | FY 2003 | FY 2004 |
| 1993A | $6,350,000 | $6,090,000 |
| 1993B | $7,907,500 | $7,675,000 |
| 1994 | $10,169,995 | $9,678,295 |
| 1996 Refunding | $3,536,423 | $3,536,473 |
| 1996 | $4,363,725 | $4,229,888 |
| 1997 | $8,681,000 | $8,425,750 |
| 1998 Refunding | $2,593,114 | $2,593,879 |
| 1998 | $5,332,575 | $5,207,975 |
| 1999 | $1,911,445 | $1,861,095 |
2. Out of the amounts for General Obligation Bond Redemption and Interest, sums needed to fund issuance costs and other financing expenses are hereby appropriated.
C.1. Out of the amounts for Amortization Payments shall be paid to the Virginia College Building Authority the following amounts for use by the Authority for payments on obligations issued for the financing of projects specified under the 21st Century College Program:
| Series | FY 2003 | FY 2004 |
| 1996 | $4,342,831 | $4,340,806 |
| 1998 | $4,411,925 | $4,414,725 |
| 1999 | $1,418,979 | $1,422,629 |
| 2000 | $1,225,125 | $1,228,963 |
| 2001 | $1,444,319 | $1,444,069 |
2. Out of the amounts for Amortization Payments and contingent upon authorization of additional projects in this act, shall be paid from the general fund to the Virginia College Building Authority the following estimated amounts for use by the authority for payments on obligations issued under the 21st Century College Program: $1,013,915 in the first year and $5,183,678 in the second year.
3. Out of the amounts for Amortization Payments, $40,516,236 from the general fund and $2,422,604 from nongeneral funds the first year and $30,916,946 from the general fund and $2,422,604 from nongeneral funds the second year, shall be paid to the Virginia College Building Authority for the payment of debt service on the following bond issues to finance equipment:
| Series | FY 2003 | FY 2004 |
| 1998 | $9,600,338 | $0 |
| 1999 | $9,354,113 | $9,354,175 |
| 2000 | $10,816,139 | $10,815,875 |
| 2001 | $13,168,250 | $13,169,500 |
4. Out of the amounts for Amortization Payments, the following estimated amounts shall be paid to the Virginia College Building Authority from the general fund for debt service payments on obligations issued pursuant to Chapter 1073, 2000 Acts of Assembly and Item 270 of this act; $13,336,188 the first year and $21,077,113 the second year.
5. The aggregate principal amount of bonds outstanding to finance the acquisition of equipment pursuant to § 23-30.27:1, Code of Virginia, shall not exceed $170 million.
D.1. Out of the amounts for Amortization Payments shall be paid to the Virginia Public Building Authority the following amounts for use by the Authority for its various bond issues:
|
| FY 2003 | FY 2004 |
| Series | General Fund | Special Funds | General Fund | Special Funds |
| 1992A Refunding | $11,600,829 | $1,438,086 | $9,711,918 | $3,296,982 |
| 1992B Refunding | $15,222,213 | $0 | $15,226,943 | $0 |
| 1992C | $8,148,429 | $379,494 | $8,211,411 | $304,389 |
| 1993A | $4,758,147 | $320,992 | $4,753,913 | $320,824 |
| 1994A | $3,476,392 | $228,202 | $3,475,517 | $228,155 |
| 1995 | $14,340,316 | $0 | $14,335,129 | $0 |
| 1996 Refunding | $6,515,200 | $1,649,252 | $6,509,995 | $1,647,676 |
| 1997 | $12,650,573 | $0 | $12,640,605 | $0 |
| 1998 Refunding | $9,034,785 | $0 | $8,963,246 | $74,778 |
| 1998 | $3,222,850 | $0 | $3,220,375 | $0 |
| 1999 | $5,343,000 | $0 | $5,340,544 | $0 |
| 1999B | $2,647,780 | $0 | $2,643,745 | $0 |
| 2000 | $8,896,231 | $0 | $9,053,081 | $0 |
| 2001 | $2,684,983 | $0 | $2,752,683 | $0 |
2. Out of the amounts for Amortization Payments and pursuant to Chapters 656 and 878, Acts of Assembly of 1991 and 1992, respectively; Chapter 1, Acts of Assembly of 1993, Special Session; and Chapters 823, 841, and 835, Acts of Assembly of 1994, 1995, and 1996 respectively, the following estimated amounts are hereby appropriated to the Virginia Public Building Authority for use by the Authority: $1,102,540 the first year and $4,356,994 in the second year from the general fund.
3.a. Funding is included in this Item for the Commonwealth's reimbursement of a portion of the approved capital costs as determined by the Board of Corrections and other interest costs as provided in §§ 53.1-80 through 53.1-82 of the Code of Virginia for the following:
Fairfax Regional Jail Expansion
Fairfax Regional Jail Renovation
Albemarle-Charlottesville Regional Jail
Alleghany/Covington Regional Jail
Southwest Virginia Regional Jail
Middle River Regional Jail
Tazewell County Local Jail
Hampton City Jail
Loudoun County Adult Detention Center
b. This paragraph shall constitute the authority for the Virginia Public Building Authority to issue bonds for the foregoing projects, pursuant to § 2.2-2261, Code of Virginia.
c. Bifurcation of the Fairfax Regional Jail project into separate expansion and renovation projects is subject to Fairfax County's compliance with the reimbursement requirements of Board of Corrections Standards for Planning, Construction, and Reimbursement of Local Correctional Facilities for both projects. Both projects are deemed to be regional facilities for the purpose of determining reimbursement. The Treasury Board and the Virginia Public Building Authority shall issue bonds, bond anticipation notes, or utilize alternative interim financing techniques as provided by law to implement the provisions of this subsection.
4. The total principal amount of Virginia Public Building Authority bonds outstanding, excluding refunding bonds and bonds issued to refinance bonds issued by other state and local authorities or political subdivisions where such bonds are secured by a lease or payment agreement with the Commonwealth, shall not exceed $1,140,000,000.
5. This paragraph shall constitute the authority for the Virginia Public Building Authority to finance grants in the amount of $2,000,000 the first year and $2,000,000 the second year pursuant to Item 112, paragraph H.2. by the issuance of revenue bonds in accordance with § 2.2-2261 of the Code of Virginia, as amended.
6.a. Funding is included in this Item for reimbursement of the state share of the costs of juvenile residential care facilities in accordance with § 16.1-309.5 of the Code of Virginia and guidelines approved by the State Board of Juvenile Justice, for the following:
|
|
|
| Chesterfield Detention Expansion | $4,861,061 |
| Chesterfield Group Home | $37,103 |
| Henrico Detention Vehicular Sallyport Renovation | $66,079 |
| Newport News Detention | $5,904,094 |
| Norfolk cost overrun | $60,814 |
| Prince William Detention | $2,250,507 |
| Shenandoah Detention | $2,837,670 |
| Blue Ridge/Charlottesville Detention | $2,625,422 |
| Virginia Beach Detention | $5,764,514 |
| Richmond Security Enhancement | $3,390 |
| Stanhope House (Norfolk) sprinkler system | $49,840 |
b. This paragraph shall constitute the authority for the Virginia Public Building Authority to finance the reimbursement of the state share of costs of the foregoing projects by the issuance of revenue bonds in accordance with § 2.2-2261 of the Code of Virginia.
7.a. Funding is included in this Item for $3,000,000 of grant funds to be disbursed to the Southeastern University Research Association, Inc. to construct an addition to the Free Electron Laser Facility.
b. This paragraph shall constitute the authority for the Virginia Public Building Authority to finance the cited grant amount pursuant to § 2.2-2261, Code of Virginia as amended.
E. Out of the amounts for Bond Amortization Payments, the following amounts are hereby appropriated for capital lease payments:
|
| FY 2003 | FY 2004 |
| Norfolk IDA (DGS) (Norfolk Public Health, 1997) | $2,415,069 | $2,411,891 |
| Brunswick IDA (DOC) (Lawrenceville, 1996) | $4,990,155 | $4,996,083 |
| Virginia Biotechnology Research Park (Biotech Two, 1996) | $2,433,154 | $2,429,038 |
| Big Stone Gap RHA (DOC) (Wallens Ridge, 1995) | $6,292,749 | $6,283,100 |
| Norfolk RHA (VCCS-TCC), Series 1995 | $2,021,121 | $2,021,080 |
| Innovative Technology Authority (VEDP) (1997) | $1,405,337 | $1,356,587 |
| Virginia Biotech Research Park, 2001 | $4,686,107 | $4,685,057 |
F. Pursuant to various Payment Agreements between the Treasury Board and the Commonwealth Transportation Board, funds required to pay the debt service due on the following Commonwealth Transportation Board bonds shall be paid to the Trustee for the bondholders by the Treasury Board after transfer of these funds to the Treasury Board from the Commonwealth Transportation Board pursuant to Item 491, paragraph G of this act and §§ 58.1-815, 58.1-815.1 and 58.1-816.1, Code of Virginia, as follows:
|
| FY 2003 | FY 2004 |
| Transportation Contract Revenue Refunding Bonds, Series 1992 (Route 28) | $8,801,125 | $8,801,025 |
| Commonwealth of Virginia Transportation Revenue Bonds |
|
|
| U.S. Route 58 Corridor Development Program: |
|
|
| Series 1993A | $9,921,097 | $9,914,057 |
| Series 1993B | $7,237,073 | $7,238,948 |
| Series 1996B | $8,111,212 | $8,111,412 |
| Series 1997C | $4,879,749 | $4,882,244 |
| Series 1999B | $14,856,110 | $14,856,985 |
| Series 2001B | $7,223,582 | $7,218,907 |
| Northern Virginia Transportation District Program: |
|
|
| Series 1993C | $9,497,394 | $9,495,874 |
| Series 1995A | $2,151,540 | $2,158,090 |
| Series 1996A | $5,189,409 | $5,186,497 |
| Series 1997B | $2,332,973 | $2,335,183 |
| Series 1999A | $2,414,359 | $2,414,722 |
| Series 2001A | $4,145,375 | $4,148,225 |
| Additional Bonds | $11,661,621 | $11,661,621 |
| Transportation Program Revenue Bonds, Series 1997 (Oak Grove Connector, City of Chesapeake) | $2,239,120 | $2,326,120 |
G. Under the authority of this act, an agency may transfer funds to the Treasury Board for use as lease, rental, or debt service payments to be used for any type of financing where the proceeds are used to acquire equipment and to finance associated costs, including but not limited to issuance and other financing costs. In the event such transfers occur, the transfers shall be deemed an appropriation to the Treasury Board for the purpose of making the lease, rental, or debt service payments described herein.
H. Any unexpended balance in the first year appropriation of this Item on June 30, 2003, shall be reappropriated in the second year.
I. Pursuant to a Payment Agreement between the Treasury Board and the Commonwealth Transportation Board, funds required to pay the debt service on any bonds authorized by the General Assembly and issued by the Commonwealth Transportation Board that are specifically secured by general fund appropriations shall be paid to the Trustee for the bond holders by the Treasury Board after transfer of these funds to the Treasury Board pursuant to Item 491, paragraph D, in an amount estimated at $26,915,361 the second year.