DVS - Veterans Care Centers

Item C-32.06 #1s

Language
Page 484, after line 15, insert:
"Veterans Care Centers Project Pool      $0 $190,597,832
Fund Sources: Federal Trust                $0           $123,597,832
Bond Proceeds     $0 $67,000,000
A. Subject to the conditions set out in Paragraph C of this Item, the Virginia Public Building Authority (VPBA), pursuant to § 2.2-2260 et. seq., Code of Virginia, is authorized to issue bonds or notes in an aggregate principal amount not to exceed $67,000,000 plus amounts to fund related issuance costs, and other financing expenses in accordance with § 2.2-2260 et. seq., Code of Virginia.
B. For the purpose of certifying the availability of state matching funds to the U.S. Department of Veterans Affairs, the amount authorized above provides state support estimated at $33,000,000 for the Hampton Roads Veterans Care Center and $34,000,000 for the Northern Virginia Veterans Care Center.  Federal funding is currently estimated at $60,618,036 for the Hampton Roads Veterans Care Center and $62,979,796 for the Northern Virginia Veterans Care Center.
C. Any issuance of bonds pursuant to this Item is contingent upon certification from the Virginia Department of Veterans Services to the State Treasurer and the Director, Department of Planning and Budget that a federal grant or grants have been awarded for the Hampton Roads Veterans Care Center and/or the Northern Virginia Veterans Care Center projects.  Upon that same certification, the Director, Department of Planning and Budget shall appropriate up to the amounts provided above the allocable authorizations related to bond proceeds and federal grant funds to the Virginia Department of Veterans Services so that the project or projects may proceed without further action by the Commonwealth, in accordance with 38 CFR 59.50 and 38 CFR 59.70(b)."