Treasury Board - Revise Layout (language only)

Item 273 #1s

Language
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Page 228, strike lines 1 through 55.
Page 229, strike lines 1 through 56.
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Treasury Board (155)
276. Bond and Loan Retirement
and Redemption (74300) $356,729,460 $411,431,845

Debt Service Payments on
General Obligation Bonds (74301) 89,074,782 103,782,142
Capital Lease Payments (74302) 14,159,123 14,160,961
Debt Service Payments on Virginia  Public  
BuildingAuthority Bonds (74303) 153,569,520 186,574,863
Debt Service Payments on Virginia College  
Building Authority Bonds (74304) 99,926,035 106,913,879

Fund Sources: General 347,459,582 402,163,481
Special 2,427,276 2,425,762
Higher Education Operating 6,842,602 6,842,602
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 Debt Service Payments on General Obligation Bonds, 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 2007 FY 2008
1996 Refunding $3,540,448 $3,541,223
1996 $2,757,675 $2,623,838
1997 $5,365,500 $0
1998 Refunding $10,786,989 $15,275,739
1998 $3,457,650 $3,286,325
1999 $1,215,024 $1,163,349
2002 Refunding $13,240,050 $7,757,850
2003A $4,320,288 $4,194,538
2004A $15,343,538 $14,927,438
2004B Refunding $4,045,550 $7,015,550
Projected debt service & expenses
$25,002,070

$43,996,292
  Total Service Area $89,074,782 $103,782,142
2. Out of the amounts for Debt Service Payments on General Obligation Bonds, sums needed to fund issuance costs and other expenses are hereby appropriated.
C. Out of the amounts for Capital Lease Payments, the following amounts are hereby appropriated for capital lease payments:

FY 2007

FY 2008

Big Stone Gap RHA (DOC) (Wallens Ridge, 1995) $6,059,500 $6,038,725
Norfolk RHA (VCCS-TCC), Series 1995 $2,024,598 $2,016,079
Innovative Technology Authority (VEDP) (1997) $1,381,525 $1,409,013
Virginia Biotech Research Park, 2001
$4,693,500 $4,697,144
  Total Capital Lease Payments $14,159,123 $14,160,961
D.1. Out of the amounts for Debt Service Payments on Virvinia Public Building Authority Bonds shall be paid to the Virginia Public Building Authority the following amounts for use by the Authority for its various bond issues: 2a. 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:

FY 2007 FY 2008
Series

General

Special General

Special
Funds

Funds

Fund

Funds
1992B Refunding $15,230,000 $0 $15,230,000 $0
1997 $7,272,500 $0 $7,261,500 $0
1998 Refunding $20,595,266 $605,969 $20,588,619 $605,492
1998 $1,953,875 $0 $1,950,500 $0
1999 $3,167,888 $0 $3,165,344 $0
1999B $2,027,402 $0 $2,023,820 $0
2000 $5,072,383 $0 $5,052,668 $0
2001 $2,753,195 $0 $2,748,333 $0
2002 $4,196,100 $0 $4,192,200 $0
2003 Refunding $4,898,974 $177,464 $4,893,020 $177,293
2004A $16,740,856 $0 $16,720,544 $0
2004B $19,143,850 $0 $19,130,850 $0
2004C $4,519,800 $0 $4,525,575 $0
2004D $5,487,638 $0 $5,486,088 $0
2005A Refunding $2,868,575 $0 $4,978,913 $0
2005B Refunding $6,792,150 $1,643,843 $10,194,150 $1,642,977
Projected debt service
& expenses
$28,421,792

$0

$56,006,977

$0
Total Service Area $151,142,244 $2,427,276 $184,149,101 $2,425,762
2a. 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:
Riverside Regional Jail Expansion
Southwest Virginia Regional Jail
Middle River Regional Jail
Hampton City Jail
Loudoun County Adult Detention Center
Botetourt-Craig Regional Jail
Eastern Shore Regional Jail
Chesterfield County Jail Replacement
Virginia Beach Local Jail
Northwest Virginia Regional Jail
Rappahanock Regional Jail Expansion
Western Virginia Regional Jail
Gloucester County Jail
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.
3.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:
Newport News Detention $5,904,094
Virginia Beach Detention $5,764,514
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.
E.1. Out of the amounts for Debt Service Payments on Virginia College Building Authority Bonds shall be paid to the Virginia College Building Authority the following amounts for use by the Authority for payments on obligations issued for financing authorized projects under the 21st Century College Program:
Series

FY 2007

FY 2008

1996 $2,724,775 $2,722,874
1998 $3,375,313 $3,378,988
1999 $1,419,661 $1,422,280
2000 $665,288 $665,363
2001 $1,446,069 $1,441,869
2002 $6,604,363 $6,608,963
2003A $8,367,963 $8,369,213
2004A $10,512,995 $10,514,245
2004B Refunding $3,117,825 $3,121,450
2005A $5,082,200 $5,082,700
Projected 21st Century
debt service & expenses
$8,854,500

$14,453,561
  Subtotal 21st Century $52,170,952 $57,781,508
2. Out of the amounts for Debt Service Payments on Virginia College Building Authority Bonds shall be paid to the Virginia College Building Authority the following amounts for the payment of debt service on authorized bond issues to finance equipment:
Series

FY 2007

FY 2008

2002 $10,758,800 $0
2003 $7,265,500 $7,266,000
2004 $8,543,000 $8,539,000
2005 $11,437,500 $11,437,000
Projected debt service
Item 251 & expenses
$9,750,283

$21,890,371
  Subtotal Equipment
$47,755,083

$49,132,371
  Total Service Area $99,926,035 $106,913,879
3.  Out of the amounts for Debt Service Payments on Virginia College Building Authority Bonds, the following nongeneral fund amounts from a capital fee charged to out-of-state students at institutions of higher education shall be paid to the Virginia College Building Authority in each year for debt service on bonds issued under the 21st Century Program:
Institution

FY 2007

FY 2008

George Mason University $114,035 $114,035
Old Dominion University $108,790 $108,790
University of Virginia $376,300 $376,300
Virginia Polytechnic Institute
and State University $386,400 $386,400
Virginia Commonwealth University $94,125 $94,125
College of William and Mary $133,950 $133,950
Christopher Newport University $7,190 $7,190
University of Virginia’s College at Wise $3,790 $3,790
James Madison University $219,230 $219,230
Norfolk State University $75,375 $75,375
Longwood University $9,130 $9,130
University of Mary Washington $55,465 $55,465
Radford University $51,190 $51,190
Virginia Military Institute $36,135 $36,135
Virginia State University $68,770 $68,770
Richard Bland College $1,165 $1,165
Virginia Community College System
$258,960

$258,960
TOTAL

$2,000,000 $2,000,000
4. Out of the amounts for Debt Service Payments of College Building Authority Bonds,  the following is the estimated general and nongeneral fund breakdown of each institution’s share of the debt service on the Virginia College Building Authority bond issues to finance equipment. The nongeneral fund amounts shall be paid to the Virginia College Building Authority in each year for debt service on bonds issued under the equipment program:

FY 2007 FY 2008
General Nongeneral General Nongeneral
Institution Fund Fund Fund Fund
College of William & Mary $1,115,246 $259,307 $1,194,854 $259,307
University of Virginia $6,527,239 $1,088,024 $6,910,206 $1,088,024
Virginia Polytechnic Institute
and State University $6,187,111 $992,321 $6,348,791 $992,321
Virginia Military Institute $487,742 $88,844 $556,428 $88,844
Virginia State University $774,494 $108,886 $839,170 $108,886
Norfolk State University $1,168,943 $108,554 $1,277,285 $108,554
Longwood University $462,311 $54,746 $475,877 $54,746
University of Mary Washington $512,757 $97,063 $495,422 $97,063
James Madison University $1,673,973 $254,504 $1,679,408 $254,504
Radford University $906,626 $135,235 $986,402 $135,235
Old Dominion University $2,633,259 $374,473 $2,821,105 $374,473
Virginia Commonwealth
University $5,497,974 $401,647 $5,821,729 $401,647
Richard Bland College $175,410 $2,027 $119,086 $2,027
Christopher Newport University $537,107 $17,899 $560,484 $17,899
University of Virginia's
College at Wise $197,485 $19,750 $210,355 $19,750
George Mason University $3,501,024 $205,665 $3,443,450 $205,665
Virginia Community
College System $9,234,535 $633,657 $9,030,582 $633,657
Virginia Institute of
Marine Science $396,210 $0 $415,497 $0
Roanoke Higher
Education Authority $74,394 $0 $88,094 $0
Southwest Virginia
Higher Education Center $140,195 $0 $152,336 $0
Institute for Advanced
Learning and Research $648,449 $0 $798,900 $0
Southern Virginia
Higher Education Center
$0 $0 $4,310 $0
TOTAL $42,852,483 $4,842,602 $44,229,771 $4,842,602
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 447, paragraph E of this act and §§ 58.1-815, 58.1-815.1 and 58.1-816.1, Code of Virginia, as follows:

FY 2007 FY 2008
Transportation Contract
Revenue Refunding Bonds,
Series 2002 (Route 28) $7,529,845 $7,524,883
Commonwealth of Virginia Transportation Revenue Bonds

U.S. Route 58 Corridor Development Program:
Series 1996B $4,235,155 $4,236,750
Series 1997C $4,879,944 $4,879,194
Series 1999B $8,179,663 $8,176,438
Series 2001B $5,591,613 $5,591,688
Series 2002B (Refunding) $7,233,288 $7,235,438
Series 2003A (Refunding) $9,914,875 $9,916,075
Series 2004B $11,563,050 $11,563,050
Northern Virginia Transportation District Program

Series 1996A $2,709,540 $2,709,000
Series 1997B $2,333,613 $2,333,769
Series 1999A $1,328,863 $1,327,988
Series 2001A $3,210,013 $3,211,163
Series 2002A $14,935,019 $14,951,219
Series 2004A $4,102,000 $4,102,000
Transportation Program Revenue Bonds,
Series 1997 (Oak Grove Connector,
City of Chesapeake) $2,328,870 $2,326,620
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.

Explanation
(This amendment revises the text set out in the introduced budget for the Treasury Board to make the text and tables more closely align with the appropriated amounts. This amendment is technical in nature and does not impact the level of general or nongeneral funds provided for debt service in the bill.)