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2018 Session

Budget Amendments - SB30 (Floor Approved)

VPA - Harbor Widening and Deepening

Item C-40.10 #1h

Item C-40.10 #1h

First Year - FY2019 Second Year - FY2020
Transportation
Virginia Port Authority FY2019 $330,000,000 FY2020 $0 NGF

Language
Page 444, after line 34, insert:

"C-40.10 Improvements: Harbor Widening and Deepening$330,000,000$0
Fund Sources:  Bond Proceeds $330,000,000 $0 "

Page 444, after line 34,insert:

"That pursuant to § 2.2-2263 of the Code of Virginia, the Virginia Public Building Authority is authorized to issue bonds in an aggregate amount not to exceed $330,000,000 plus amounts needed to fund issuance costs, reserve funds, original issue discount, interest prior to and during acquisition, construction, or renovation and for one year after completion thereof, and other financing expenses. The proceeds of such bonds shall be used to fund capital projects related to the Port Harbor Widening and Deepening. The General Assembly hereby appropriates the proceeds from any such bonds for the projects listed in this enactment. Debt service on projects contained in this enactment shall be provided from appropriations to the Treasury Board.



Explanation

(This amendment authorizes the projects associated with the improvements to the Port Harbor Widening and Deepening. Planning funds for this project is provided as part of Item C-36 of this act.)