2014 Session

Budget Amendments - HB30 (Committee Approved)

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Port Debt Service Language (language only)

Item 454 #1h

Item 454 #1h

Virginia Port Authority

Page 389, after line 39, insert:
"11. It is hereby acknowledged that, in accordance with § 62.1-140, Code of Virginia, the Virginia Port Authority is authorized to purchase, through a purchase agreement (master equipment lease program), terminal operating equipment at a total estimated cost of $37,000,000.  Total debt service referenced in this paragraph (including any interim financing issued in anticipation of such program), is estimated at $5,000,000 the first year and $5,000,000 the second year from special funds, and such lease purchases may be refunded by the Authority."

(This amendment adds language regarding to the debt service payment for a capital project for the Ports of Virginia authorized in Part 2 of this act in Item C-40.)