1996 Session

Budget Bill - HB30 (Introduced)

Debt Bonds 9(D)

Item C-7

Item C-7

First Year - FY1997Second Year - FY1998
Debt Bonds 9(D) (15785)$95,532,000$0
Fund Sources:  
Higher Education OperatingFY1997 $1,000,000FY1998 $0
Debt ServiceFY1997 $94,532,000FY1998 $0


UVA: Student Residence Hall 15795 6,000,000 1,000,000 7,000,000
VPI: Athletic Facilities Renovations 15801 6,250,000 6,250,000

Alumni Hall & Donaldson Brown Center

15802 3,946,000     3,946,000

Student ResidenceHall

15800 10,000,000     10,000,000

Student Residence Hall

15524 1,731,000 1,731,000
ODU: Teletechnet Center 15519 7,300,000     7,300,000
GMU: Prince William Institute, Phase II 15659 11,900,000     11,900,000
VCU: Repair Residence Halls 15810 3,797,000     3,797,000

School of Engineering

15717 23,890,000     23,890,000
JMU: Construct Student Residence Hall 15804 14,118,000     14,118,000
LC: East Ruffner Conversion 15806 2,000,000     2,000,000
RD: Renovate Ingles Hall 15819 3,600,000     3,600,000
TOTAL BOND PROJECTS 9(d)   $94,532,000 $1,000,000 $95,532,000

New Construction: School of Engineering (15717)

A.1. The General Assembly authorizes Virginia Commonwealth University, with the approval of the Governor, to construct a new teaching and research facility for use by the School of Engineering at Virginia Commonwealth University. This project must be consistent with guidelines promulgated by the Department of General Services and comply with the "Alternative Construction and Financing Guidelines" issued by the Secretary of Finance on July 1, 1992. The project, previously authorized in Item C-53.10 of Chapter 853 of the 1995 Acts of Assembly, shall be consistent with the plans and specifications in the report submitted to the Governor and the Chairmen of the House Appropriations and Senate Finance Committees on November 1, 1995. This project shall be known as the School of Engineering (15809).

2. The General Assembly authorizes Virginia Commonwealth University to enter into a written agreement with the School of Engineering Foundation at Virginia Commonwealth University to design, construct, and finance the project. All project proposals and approvals shall be in accordance with the guidelines cited in paragraph 1 of this item.

3. The School of Engineering Foundation will assume responsibility for all construction costs and debt issuance expenses in excess of bond proceeds and shall reimburse the University for debt service on the bonds issued to finance this project.

4. Consistent with the economic incentive package offered to Motorola to locate in the Richmond area, Item 27 includes $11,000,000 from the general fund to provide for construction of a clean room training facility as part of the new School of Engineering Building.