Item C-52 | First Year - FY2025 | Second Year - FY2026 |
|---|---|---|
| 2022 State Agency Capital Account (18587) | $50,000,000 | $0 |
| Fund Sources: | ||
| Bond Proceeds | FY2025 $50,000,000 | FY2026 $0 |
A. 1. The Virginia Public Building Authority pursuant to § 2.2-2260 et seq., Code of Virginia, is authorized to issue bonds in a principal amount not to exceed $50,000,000 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, to supplement the funding for the projects previously authorized in Item C-76, Chapter 2, 2022 Acts of Assembly, Special Session I.
2. Debt service on the bonds issued under the authorization in this Item shall be provided from appropriations to the Treasury Board.
B. The Department of State Police project titled “Replace Training Academy at Department Headquarters” (18541) shall be limited to total state funding of no more than $100,000,000. Notwithstanding § 2.2-1515 et. seq., Code of Virginia, or any other provision of law, no additional funding shall be provided to this project. The Department of State Police is authorized to adjust the size and scope of this project to accommodate the funding limitations.