2006 Session

Budget Amendments - HB30 (Member Request)

Chief Patron: Hamilton
CNU Alternative Finance (language only)

Item C-22.10 #3h

Item C-22.10 #3h

Education: Higher Education
Christopher Newport University

Page 428, after line 25, insert:
"1. Subject to § 4-4.01x of this act, the General Assembly authorizes Christopher Newport University to continue written agreements with the Christopher Newport University Real Estate Foundation (CNUREF) in connection with the refinancing of certain housing and office space projects.
2. Christopher Newport University is further authorized to continue written agreements with CNUREF to support such facilities including agreements to (i) lease all or a portion of such facilities from CNUREF, (ii) include such facilities in the University's building  inventory, (iii) manage the operation and maintenance of the facilities, including collection of any rental fees from University students in connection with the use of such facilities, and (iv) otherwise support the activities at such facilities consistent with law, provided that the University shall not be required to take any action that would constitute a breach of the University's obligation under any documents or instruments constitution or securing bonds or other indebtedness of the University or the Commonwealth of Virginia."

(This amendment is self-explanatory.)