1999 Session

Budget Bill - HB1450 (Chapter 935)

Virginia Community College System

Item C-26.80

Item C-26.80

First Year - FY1999Second Year - FY2000
Reversion Clearing Account: Project Management (16272)$0$0
Fund Sources:  
GeneralFY1999 $0FY2000 -$1,009,532
SpecialFY1999 $0FY2000 $1,009,532

A. The special fund amount included in this Item consists of reserve fund proceeds and excess interest earned on Virginia Public Building Authority bonds. The Governor shall authorize the initiation of projects, and allocation of such funds to projects, as further described in this Item upon certification to him by the Authority that an arbitrage rebate liability calculation has been completed, an affirmative opinion of counsel has been received, and excess bond process and interest earnings of the Authority are available.

B. The Director, Department of Planning and Budget, shall withhold general fund amounts from the appropriation provided in Item C-24 of this act, and shall allocate special funds appropriated in this Item for the purposes identified in that Item after the provisions of paragraph A of this Item have been met.