Item 488 | First Year - FY2005 | Second Year - FY2006 |
|---|---|---|
| Highway System Acquisition and Construction (60300) | $984,487,593 | $1,191,939,894 |
| Access Roads and other Construction (60302) | FY2005 $192,435,772 | FY2006 $254,324,008 |
| Interstate Construction (60303) | FY2005 $202,972,201 | FY2006 $365,140,000 |
| Primary Construction (60304) | FY2005 $221,831,952 | FY2006 $208,994,427 |
| Secondary Construction (60306) | FY2005 $207,163,917 | FY2006 $199,068,731 |
| Urban Construction (60307) | FY2005 $160,083,751 | FY2006 $164,412,728 |
| Fund Sources: | ||
| Commonwealth Transportation | FY2005 $984,487,593 | FY2006 $1,191,939,894 |
Authority: Title 33.1, Chapter 1; Code of Virginia; Chapters 8, 9, and 12, Acts of Assembly of 1989, Special Session II
A. Upon the Department's approval of the Baseline Engineering for Section A, the Department shall dedicate the necessary resources to commence negotiation of a fixed price for Section A of the Coalfields Expressway. Once a negotiated, fixed price is agreed upon for Section A, the Department shall dedicate the necessary resources to develop a Plan of Finance in accordance with Section 33.1-12(2)(c) of the Code of Virginia and the Comprehensive Agreement dated January 11, 2002, as amended on September 3, 2002. It is the intent of the General Assembly that sufficient appropriations will be provided to support such Plan of Finance and such Plan of Finance shall consider the funds available in the Priority Transportation Fund, the Transportation Trust Fund, Federal Highway Reimbursement Anticipation Notes, and federal revenues available to the Commonwealth Transportation Board. Such Plan of Finance shall be presented to the Commonwealth Transportation Board for its consideration.
B. Notwithstanding the amounts specified in § 33.1-75.1 C and D of the Code of Virginia, $15,000,000 the first year and $15,000,000 the second year in Commonwealth Transportation Funds shall be allocated to localities for secondary road revenue sharing.
C. Notwithstanding § 33.1-23.1 of the Code of Virginia, the net proceeds from the lease or sale of surplus and residue property parcels purchased under this program shall be directly applicable to the system and locality that provided the original funding. This funding shall be provided as an adjustment to the allocations distributed to the systems and localities according to Title 33.1 of the Code of Virginia.