2020 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: Governor Northam
Provide GF Cash in Lieu of Debt for CHKD Project

Item C-72 #1g

Item C-72 #1g

First Year - FY2021 Second Year - FY2022
Central Appropriations
Central Capital Outlay FY2021 $33,400,000 FY2022 $0 GF
FY2021 ($33,400,000) FY2022 $0 NGF


Page 505, line 14, strike "Bond Proceeds………  $73,400,000             $0" and insert:

"General…………………  $33,400,000            $0

  Bond Proceeds……..….   $40,000,000            $0".

Page 505, line 15, after "year" insert "from the general fund".

Page 505, line 31, after "year" insert "from bond funds".

Page 505, after line 33, insert:

"C.1. The capital project in paragraph B of this item is hereby authorized and may be financed in whole or in part through bonds of the Virginia Public Building Authority pursuant to § 2.2-2260 et seq., Code of Virginia, in a principal amount not to exceed $40,000,000 plus amounts needed to fund issuance costs, reserve funds, original issue discount, interest prior to and during the acquisition or construction and for one year after completion thereof, and other financing expenses, in accordance with § 2.2-2263, Code of Virginia.

2. Debt service on the projects contained in this item shall be provided from appropriations to the Treasury Board.

3. The appropriation in this item is subject to the conditions of § 2-0 F. of this act.

4. Except as provided in paragraph C.3. of this item, the provisions of §§ 2-0 and 4-4.01 of this act and the provisions of § 2.2-1132, Code of Virginia, shall not apply to the projects supported by this item."


(This amendment provides general fund cash in lieu of debt for the Children's Hospital of the King's Daughters (CHKD) capital project included in the Governor's introduced budget. In addition, it makes a technical adjustment in language inadvertently not included needed to authorize the bond authority provided for in this item.)