Item 276 | First Year - FY2007 | Second Year - FY2008 |
|---|---|---|
| Bond and Loan Retirement and Redemption (74300) | $356,729,460 | $411,431,845 |
| Debt Service Payments on General Obligation Bonds (74301) | FY2007 $89,074,782 | FY2008 $103,782,142 |
| Capital Lease Payments (74302) | FY2007 $14,159,123 | FY2008 $14,160,961 |
| Debt Service Payments on Public Building Authority Bonds (74303) | FY2007 $153,569,520 | FY2008 $186,574,863 |
| Debt Service Payments on College Building Authority Bonds (74304) | FY2007 $99,926,035 | FY2008 $106,913,879 |
| Fund Sources: | ||
| General | FY2007 $347,459,582 | FY2008 $402,163,481 |
| Special | FY2007 $2,427,276 | FY2008 $2,425,762 |
| Higher Education Operating | FY2007 $6,842,602 | FY2008 $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 |
2. Out of the amounts for Debt Service Payments on General Obligation Bonds, $24,975,000 the first year and $43,969,000 the second year is hereby appropriated from the general fund for costs of issuance and debt service on general obligation bonds issued pursuant to Article X, Section 9(b), of the Constitution of Virginia.
3. 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.1. Out of the amounts for Debt Service Payments on 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 the financing of projects specified 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 |
2. Out of the amounts for Debt Service Payments on College Building Authority Bonds 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: $8,794,500 the first year and $14,393,563 the second year.
3. Out of the amounts for Debt Service Payments on College Building Authority Bonds, amounts estimated at $42,852,483 from the general fund and $4,842,602 from nongeneral funds the first year and $44,229,771 from the general fund and $4,842,602 from nongeneral funds the second year, shall be paid to the Virginia College Building Authority 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 |
4. Out of the amounts for Debt Service Payments on College Building Authority Bonds, 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 Item 251 of this act; $9,690,285 the first year and $21,830,373 the second year.
5.a. Out of the amounts included in paragraph C 3 of this Item the following is the estimated breakdown of each institution's share of the debt service on the bond issues to finance equipment:
|
| FY 2007 | FY 2008 |
|
| Institution | General Fund | Nongeneral Fund | General Fund | Nongeneral 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 |
6. Out of the amounts for Debt Service Payments on 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 |
D.1. Out of the amounts for Debt Service Payments on 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:
|
| FY 2007 | FY 2008 |
|
| Series | General Fund | Special Funds | General Fund | Special 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 | $2,072,402 | $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 | $19,143,580 | $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 |
2.a. Out of the amounts for Debt Service Payments on Public Building Authority Bonds the following estimated amounts are hereby appropriated to the Virginia Public Building Authority for use by the Authority: $15,628,000 the first year and $30,950,000 in the second year from the general fund.
b. Out of this appropriation, $12,674,100 the first year and $24,937,000 the second year from the general fund is provided for estimated debt service on the State Agency Radio System (STARS).
3a. 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.
4.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. 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 |
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.