Increase Appropriation for Capital Pool
Item C-46.10 #1s
Item C-46.10 #1s | First Year - FY2015 | Second Year - FY2016 | |
| Central Appropriations |
| Central Capital Outlay | FY2015 $21,000,000 | FY2016 $0 | NGF |
Language
Page 438, after line 29 insert, "C-46.10 Comprehensive Capital Outlay Program (18049) First Year FY 2015 $21,000,000".
Page 438, after line 29 insert, "C-46.10 Comprehensive Capital Outlay Program (18049) Second Year FY 2016 $0".
Page 438, after line 29 insert:
“ A. In addition to amounts previously authorized for this program, the Virginia College Building Authority, pursuant to
§ 23-30.24 et seq., Code of Virginia, and the Virginia Public Building Authority, pursuant to § 2.2-2263, Code of Virginia, are authorized to issue bonds to finance projects listed in this Item. The aggregate principal amounts shall not exceed $21,000,000 plus amounts to fund related issuance costs, and other financing expenses, in accordance with § 2.2-2263, Code of Virginia.
B. The General Assembly hereby appropriates $21,000,000 in the first year from bond proceeds for the projects listed in this Item.
C. Out of the appropriation for this Item, $20,000,000 in bond proceeds issued by the Virginia College Building Authority is designated for a previously authorized project of George Mason University in Item C-39.40, Chapter 806, 2013 Acts of Assembly. This funding may be used in lieu of other nongeneral fund support for this project.
D. Out of the appropriation for this Item, $1,000,000 in bond proceeds issued by the Virginia Public Building Authority shall be provided to the Department of Environmental Quality for the Combined Sewer Overflow Matching Fund, established
pursuant to § 62.1-241.12, Code of Virginia. These bond proceeds shall be used by the Virginia Resources Authority and the State Water Control Board to make a grant to the city of Alexandria of up to $1,000,000 to pay a portion of the capital costs of the city’s combined sewer overflow control project. Disbursement of these proceeds shall be authorized by the State Water Control Board, under the authority of the Department of Environmental Quality, and administered by the Virginia Resources Authority through the Combined Sewer Overflow Matching Fund. No such net proceeds shall be used to pay debt service on obligations of the city or any other localities or regional or local authorities."
Explanation
(This amendment increases the bond authorization and appropriation for a previously established capital pool. The bond proceeds are designated for a previously approved capital project for George Mason University and for a grant to the city of Alexandria for its combined sewer overflow project.)