The Virginia Port Authority may issue Port Facilities Revenue Bonds up to $50,000,000, plus issuance costs, reserve funds, and other financing expenses for construction and renovation to improve Norfolk International Terminal (South), Phase II (407-16644) and the construction of security related facilities at Norfolk International Terminals (North) and Portsmouth Marine Terminal (407-16961). Funding for project 407-16644 is estimated to be $42,500,000, and project 407-16961 is estimated to be $7,500,000. The Department of Planning and Budget may increase the appropriation and transfer funds between these two projects, as needed.