2012 Special Session I

Budget Amendments - HB1301 (Committee Approved)

Provide 9(c) bond authority for the Renovate Washington Hall project

Item C-19.10 #1s

Item C-19.10 #1s

First Year - FY2013 Second Year - FY2014
Education: Higher Education
Radford University FY2013 $5,410,000 FY2014 $0 NGF

Page 375, before line 18, insert:
"C-19.10. Renovate Washington Hall (17948)                                 $5,410,000      $0
               Bond Proceeds                                 $5,410,000    $0".

(This amendment provides 9(c) debt authority for Radford University's Renovate Washington Hall capital project. This project was included in Senate Bill 29 and funded entirely by auxiliary enterprise revenue. However, the university would prefer to split fund the project 50/50 between auxiliary revenue and debt financing to avoid having to dedicate the majority of its available cash solely to this project. The remaining portion of this project ($5.4 million) will be funded with auxiliary enterprise balances.)