A. Pursuant to § 2.2-2264 of the Code of Virginia, the General Assembly hereby authorizes the Virginia Public Building Authority to undertake the construction, improvement, and furnishing of this project and the following projects in Items C-1.35 through C-1.60, including, but not limited to, constructing, improving, furnishing, maintaining, and renovating buildings, facilities, improvements and land therefore; and to exercise any and all powers granted to it by law in connection therewith, including the power to finance all or any portion of the cost thereof by the issuance of revenue bonds in a principal amount not to exceed $118,570,000 $125,187,000 plus amounts needed to fund issuance costs, reserve funds, original issue discount, interest prior to and during construction or renovation and for one year after completion thereof, and other financing expenses.

B. The Virginia Public Building Authority is also authorized to exercise any and all powers granted to it by law in connection therewith, including the power to finance the cost thereof by the issuance of revenue bonds not to exceed the principal amount set forth plus amounts needed to fund issuance costs, reserve funds, original issue discount, interest prior to or during improvement and for up to one year after completion of the improvement, and other financing expenses.

C.1. Notwithstanding the foregoing, the Virginia Public Building Authority shall not take any action in regard to the renovation of the Old Finance Building, and renovation of the Washington Building projects included in paragraph A, including the issuance of bonds, that will financially obligate the Commonwealth except as provided in this Item.

2. The Governor shall prepare and release a plan to the chairmen of the Senate Finance Committee and House Appropriations Committee on or before December 1, 2003, providing alternatives to the issuance of bonds for completing the renovations included in paragraph A. for the Finance Building and Washington Building projects. Such alternatives shall include detailed information on the feasibility of entering into public-private partnerships for completing such renovations, including, but not limited to, entering into a comprehensive agreement with a private entity for the completion of such renovations pursuant to The Public-Private Education Facilities and Infrastructure Act of 2002 (§ 56-575.1 et seq. of the Code of Virginia). In addition, the plan shall identify the proposed tenants of each of the Finance and Washington Buildings, respectively, who will be occupying office space in such buildings immediately after completion of such renovations. In no case shall any action be taken that will financially obligate the Commonwealth, in regard to the renovation of the Old Finance Building, and renovation of the Washington Building projects included in paragraph A, except costs incidental to the preparation of plans therefor, prior to March 31, 2004.

3. The Department of General Services shall provide written notice to the Virginia Public Building Authority no sooner than March 31, 2004, identifying the renovations, and the expected costs thereof, for the renovations included in paragraph A for the Finance Building and Washington Building projects that will be undertaken and completed by entities other than the Authority (in accordance with the Governor's plan provided herein), including, but not limited to, renovations to be completed pursuant to a comprehensive agreement with a private entity under the provisions of The Public-Private Education Facilities and Infrastructure Act of 2002. Upon receipt of such notice, the Virginia Public Building Authority shall undertake and complete, and may issue bonds to finance, the costs of all other renovations for the Finance Building and Washington Building projects included in paragraph A.

4. C. The Joint Rules Committee with the assistance of the Secretary of Administration shall prepare and release a plan to the chairmen of the Senate Finance Committee and House Appropriations Committee on or before December 1, 2003, to fund the acquisition of fixtures and furnishings for the Capitol Building project included in paragraph A, through private donations or other means of fund-raising. The estimated cost of these fixtures and furnishings is $5,972,000 $13,825,000.

D. Any funds raised from private donations or other fund-raising for purposes of acquiring fixtures and furnishings for the Capitol Building project may be used for such purposes by the Department of General Services after December 31, 2003.