2020 Special Session I

Budget Amendments - HB5005 (Committee Approved)

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Technical Language Regarding Project Supplement Pool (language only)

Item C-69 #1h

Item C-69 #1h

Central Appropriations
Central Capital Outlay


Page 230, after line 46, insert:

"A. 1. Included in this item is $170,700,000 in bond appropriation which may be transferred between and among the capital project pools listed, or any project within a listed pool notwithstanding § 2.2-1519 E, in paragraph O. of § 2-0 of this act in order to address any shortfall in appropriation in one or more of such project pools or project, pursuant to the provisions of § 2-0, paragraph O., of this act and may be financed in whole or in part through bonds of the Virginia College Building Authority pursuant to § 23.1-1200 et seq., Code of Virginia, or the Virginia Public Building Authority pursuant to § 2.2-2260 et seq., Code of Virginia. Bonds of the Virginia College Building Authority issued to finance these projects may be sold and issued under the 21st Century College Program at the same time with other obligations of the Authority as separate issues or as a combined issue. The aggregate principal amount shall not exceed $170,700,000 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."


(This amendment makes a technical clarifying language to Paragraph A of Item C-69 related to project supplements.)