2005 Session

Budget Amendments - SB700 (Conference Report)

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ODU - Revise parking garage language (language only)

Item C-52.40 #1c

Item C-52.40 #1c

Education: Higher Education
Old Dominion University

Page 503, line 44, before "Old", insert "1."
Page 503, line 45, after "lease", insert "or other written agreements".
Page 503, line 46, after "development", insert:
", design, construction and financing".
Page 504, after line 8, insert:
"2.  Old Dominion University, with approval from the Governor, is further authorized to enter into written agreements with a public or private entity to support such parking structure; the support may include agreements to (i) include the parking structure in the University's parking system; (ii) manage the operation and maintenance of the facility, including collection of parking fees; and (iii) otherwise support the parking facility consistent with law, provided that the University shall not be required to take any action that would constitute a breach of the University's obligations under any documents or other instruments constituting or securing bonds or other indebtedness of the University or the Commonwealth of Virginia."

(This amendment provides Old Dominion University the authority to enter into written agreements necessary to manage its parking garage capital project.)