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2009 Session

Budget Bill - HB1600 (Introduced)

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Treasury Board

Item 280

Item 280

First Year - FY2009Second Year - FY2010
Bond and Loan Retirement and Redemption (74300)$464,912,430
$452,954,149
$529,606,327
$526,840,569
Debt Service Payments on General Obligation Bonds (74301)FY2009 $114,269,480
$116,852,580
FY2010 $126,479,588
$127,282,087
Capital Lease Payments (74302)FY2009 $14,077,649FY2010 $14,101,031
Debt Service Payments on Public Building Authority Bonds (74303)FY2009 $215,168,635
$204,155,694
FY2010 $256,058,577
$233,650,900
Debt Service Payments on College Building Authority Bonds (74304)FY2009 $121,396,666
$117,868,226
FY2010 $132,967,131
$151,806,551
Fund Sources: 
GeneralFY2009 $453,645,949
$441,687,668
FY2010 $518,341,810
$515,576,052
SpecialFY2009 $2,423,879FY2010 $2,421,915
Higher Education OperatingFY2009 $8,842,602FY2010 $8,842,602

Authority: Title 2.2, Chapter 18; Title 33.1, Chapter 3, Article 5, Code of Virginia; Article X, Section 9, Constitution of Virginia.


A. The Director of the Department of Planning and Budget is authorized to transfer appropriations between Items in the Treasury Board to address legislation affecting the Treasury Board passed by the General Assembly.


B.1. Out of the amounts for Debt Service Payments on General Obligation Bonds, the following amounts are hereby appropriated from the general fund for debt service on general obligation bonds issued pursuant to Article X, Section 9 (b), of the Constitution of Virginia:


Series

FY 2009

FY 2010

1998 Refunding

$6,370,077

$6,081,920

1999

$1,111,674

$0

2002 Refunding

$9,992,600

$9,603,800

2003A

$4,068,788

$3,943,038

2004A

$14,496,688

$14,066,938

2004B Refunding

$12,032,050

$12,705,300

2005

$10,903,352

$10,673,152

2006A Refunding

$11,131,950

$10,596,950

2006

$11,052,838

$10,756,838

2007

$11,927,963

$11,615,463

Projected debt service & expenses

$21,181,500

 

$36,436,189

 

 

$23,764,600

$37,238,688

Total Service Area

$114,269,480

$126,479,588

 

$116,852,580

$127,282,087


2. Out of the amounts for Debt Service Payments on General Obligation Bonds, sums needed to fund issuance costs and other expenses are hereby appropriated.


C. Out of the amounts for Capital Lease Payments, the following amounts are hereby appropriated for capital lease payments:


 

FY 2009

FY 2010

Big Stone Gap RHA (DOC) (Wallens Ridge, 1995)

$6,034,975

$6,037,050

Norfolk RHA (VCCS-TCC), Series 1995

$2,018,729

$2,018,154

Innovative Technology Authority (VEDP) (1997)

$1,325,051

$1,342,208

Virginia Biotech Research Park, 2001

$4,698,894

$4,703,619

Total Capital Lease Payments

$14,077,649

$14,101,031


D.1. Out of the amounts for Debt Service Payments on Virginia Public Building Authority Bonds shall be paid to the Virginia Public Building Authority the following amounts for use by the Authority for its various bond issues:


 

FY 2009

FY 2010

 


 


Series

General Fund

Special Funds

General Fund

Special Funds

1992B Refunding

$15,235,000

$0

$15,230,000

$0

1998 Refunding

$20,560,863

$604,867

$16,364,655

$376,081

 

$17,522,258

 

$0

$0

1998

$1,952,625

$0

0

$0

1999

$3,167,259

$0

0

$0

 

$3,167,250

 

 

 

1999B

$2,024,810

$0

$2,024,375

$0

2000

$5,058,943

$0

$5,035,949

$0

2001

$2,749,533

$0

$2,748,333

$0

2002

$4,191,425

$0

$4,193,625

$0

2003 Refunding

$4,888,522

$177,166

$4,877,168

$176,770

 

 

$177,116

 

 

2004A

$23,954,844

$0

$23,965,006

$0

2004B

$19,123,100

$0

$19,109,350

$0

2004C

$4,533,625

$0

$4,540,900

$0

2004D

$5,483,238

$0

$5,484,494

$0

2005A Refunding

$4,968,625

$0

$4,967,625

$0

2005B Refunding

$9,922,129

$1,641,896

$19,251,086

$1,869,064

2005C

$6,021,063

$0

$6,020,563

$0

STARS 2005C

12,248,750

$0

$12,251,875

$0

2005D

$2,613,750

$0

$2,613,750

$0

2006A

$5,955,005

$0

$5,954,993

$0

STARS 2006A

$7,145,663

$0

$7,143,250

$0

2006B

$13,998,175

$0

$13,999,175

$0

STARS 2006B

$4,466,250

$0

$4,466,500

$0

2007A

$14,718,731

$0

$14,716,600

$0

STARS 2007A

$7,517,157

$0

$7,515,875

 

Projected debt service and expenses

$10,245,675

$0

$51,179,515

$0

 

$2,271,344

 

$45,118,493

$376,081

Total Service Area

$212,744,760

$2,423,929

$253,654,662

$2,421,915

 

$201,731,815

$2,423,879

$231,228,985

 

 

 

 

 

 

 

 

 


2a. Funding is included in this Item for the Commonwealth's reimbursement of a portion of the approved capital costs as determined by the Board of Corrections and other interest costs as provided in §§ 53.1-80 through 53.1-82 of the Code of Virginia for the following:


Riverside Regional Jail Expansion

Reimbursement may be made in two installments, the first following completion of the addition to the Pre-Release Center.

Hampton City Jail

Loudoun County Adult Detention Center

Botetourt-Craig Regional Jail

Virginia Beach Local Jail

Northwest Virginia Regional Jail

Rappahannock Regional Jail Expansion

Western Virginia Regional Jail

The total reimbursement for the Western Virginia Regional Jail shall not exceed the amount approved by the Board of Corrections at its meeting on August 31, 2005.

Gloucester County Jail

Prince William Manassas Regional Adult Detention Center

Reimbursement may be made in two installments, the first following completion of the 200-bed expansion, and the second following completion of the renovation of the main jail facility.

Culpeper County Jail

Blue Ridge Regional Jail Expansion

New River Valley Regional Jail

Rappahannock, Shenandoah, Warren Regional Jail

Newport News Adult Detention Center

Patrick County Jail


b. This paragraph shall constitute the authority for the Virginia Public Building Authority to issue bonds for the foregoing projects pursuant to § 2.2-2261 of the Code of Virginia.


E.1. Out of the amounts for Debt Service Payments on Virginia College Building Authority Bonds shall be paid to the Virginia College Building Authority the following amounts for use by the Authority for payments on obligations issued for financing authorized projects under the 21st Century College Program:


Series

FY 2009

FY 2010

1998

$2,957,263

$2,955,025

1999

$1,062,130

$1,065,155

2000

$663,863

$0

2001

$1,078,969

$1,076,175

2002

$4,674,875

$4,674,075

2003A

$8,370,963

$8,367,713

2004A 

$10,514,245

$10,512,495

2004B Refunding

$5,759,950

$6,424,950

2005A

$5,082,950

$5,082,700

2006

$9.481,033

$9,445,648

 

$5,191,357

$5,191,357

2007A Refunding

$2,937,300

$2,937,300

2007B

$3,688,625

$3,692,625

Projected 21st Century debt service & expenses

$4,819,000

 

$15,342,190

 

 

$5,951,871

$48,432,731

Subtotal 21st Century

$61,091,066

$71,576,051

 

$57,934,361

$100,412,301


2. Out of the amounts for Debt Service Payments on Virginia College Building Authority Bonds shall be paid to the Virginia College Building Authority the following amounts for the payment of debt service on authorized bond issues to finance equipment:


Series

FY 2009

FY 2010

2004

$8,541,750

$0

2005 

$11,433,000

$11,434,500

2006

$12,948,250

$12,949,000

2007B

$18,779,250

$18,776,750

Projected debt service & expenses

$8,603,250

$18,230,830

 

$8,231,615

$8,234,000

Subtotal Equipment

$60,305,500

$61,391,080

 

$59,933,865

$51,394,250

Total Service Area

$121,396,666

$132,967,131

 

$117,868,226

$151,806,551


3.  Out of the amounts for Debt Service Payments on Virginia College Building Authority Bonds, the following nongeneral fund amounts from a capital fee charged to out-of-state students at institutions of higher education shall be paid to the Virginia College Building Authority in each year for debt service on bonds issued under the 21st Century Program:


Institution

FY 2009

FY 2010

George Mason University

$311,338

$311,338

Old Dominion University

$193,298

$193,298

University of Virginia

$760,448

$760,448

Virginia Polytechnic Institute and State University

$794,424

$794,424

Virginia Commonwealth University

$289,108

$289,108

College of William and Mary

$241,596

$241,596

Christopher Newport University

$11,324

$11,324

University of Virginia's College at Wise

$7,800

$7,800

James Madison University

$457,402

$457,402

Norfolk State University

$113,258

$113,258

Longwood University

$21,646

$21,646

University of Mary Washington

$102,204

$102,204

Radford University

$71,570

$71,570

Virginia Military Institute

$65,262

$65,262

Virginia State University

$142,136

$142,136

Richard Bland College

$1,448

$1,448

Virginia Community College System

$415,738

$415,738

TOTAL

$4,000,000

$4,000,000


4. Out of the amounts for Debt Service Payments of College Building Authority Bonds,  the following is the estimated general and nongeneral fund breakdown of each institution's share of the debt service on the Virginia College Building Authority bond issues to finance equipment. The nongeneral fund amounts shall be paid to the Virginia College Building Authority in each year for debt service on bonds issued under the equipment program:


5. Beginning with the fiscal year 2008 allocation of the higher education equipment trust fund, the Treasury Board shall amortize equipment purchases at 7 years, which is consistent with the useful life of the equipment.


 

FY 2009

FY 2010

 


 


Institution

General Fund

Nongeneral Fund

General Fund

Nongeneral Fund

College of William & Mary

$1,577,344

$259,307

$1,788,127

$259,307

University of Virginia

$10,663,802

$1,088,024

$11,682,365

$1,088,024

Virginia Polytechnic Institute and State University

$9,962,105

$992,321

$10,732,194

$992,321

Virginia Military Institute

$666,838

$88,844

$743,497

$88,844

Virginia State University

$1,001,831

$108,886

$1,131,316

$108,886

Norfolk State University

$1,394,485

$108,554

$1,502,769

$108,554

Longwood University

$556,060

$54,746

$611,731

$54,746

University of Mary Washington

$569,948

$97,063

$608,727

$97,063

James Madison University

$1,891,790

$254,504

$2,020,629

$254,504

Radford University

$1,157,821

$135,235

$1,294,846

$135,235

Old Dominion University

$3,585,060

$374,473

$3,961,850

$374,473

Virginia Commonwealth University

$7,931,604

$401,647

$8,796,182

$401,647

Richard Bland College

$135,477

$2,027

$144,055

$2,027

Christopher Newport University

$627,161

$17,899

$662,430

$17,899

University of Virginia's College at Wise

$241,101

$19,750

$259,953

$19,750

George Mason University

$4,605,140

$205,665

$3,985,874

$205,665

Virginia Community College System

$10,246,713

$633,657

$11,172,831

$633,657

Virginia Institute of Marine Science

$521,746

$0

$592,214

$0

Roanoke Higher Education Authority

$78,742

$0

$65,628

$0

Southwest Virginia Higher Education Center

$108,367

$0

$62,181

$0

Institute for Advanced Learning and Research

$828,694

$0

$861,234

$0

Southern Virginia Higher Education Center

$11,073

$0

$17,747

$0

 TOTAL

$58,362,902

$4,842,602

$62,698,478

$4,842,602


F. Pursuant to various Payment Agreements between the Treasury Board and the Commonwealth Transportation Board, funds required to pay the debt service due on the following Commonwealth Transportation Board bonds shall be paid to the Trustee for the bondholders by the Treasury Board after transfer of these funds to the Treasury Board from the Commonwealth Transportation Board pursuant to Item 459, paragraph E of this act and §§ 58.1-815, 58.1-815.1 and 58.1-816.1, Code of Virginia, as follows:


 

FY 2009

FY 2010

Transportation Contract Revenue Refunding Bonds, Series 2002 (Route 28)

$7,530,713

$7,528,150

Commonwealth of Virginia Transportation Revenue Bonds

 

 

U.S. Route 58 Corridor Development Program:

 

 

Series 1999B

$6,667,538

$0

Series 2001B

$3,758,363

$3,757,863

Series 2002B (Refunding)

$7,239,438

$7,237,688

Series 2003A (Refunding)

$9,915,275

$9.921,275

Series 2004B

$14,048,050

$23,093,800

Series 2006C

$3,173,000

$3,173,000

Series 2007B

$4,197,750

$4,197,750

Northern Virginia Transportation District Program:

 

 

Series 1999A

$1,083,938

$0

Series 2001A

$2,823,663

$2,825,163

Series 2002A

$12,363,944

$12,362,194

Series 2004A

$6,152,000

$8,294,500

Series 2006B

$973,363

$973,363

Series 2007A

$1,987,600

$4,523,000

Transportation Program Revenue Bonds, Series 2006A (Oak Grove Connector, City of Chesapeake)

$2,225,775

$2,227,325


G. Under the authority of this act, an agency may transfer funds to the Treasury Board for use as lease, rental, or debt service payments to be used for any type of financing where the proceeds are used to acquire equipment and to finance associated costs, including but not limited to issuance and other financing costs. In the event such transfers occur, the transfers shall be deemed an appropriation to the Treasury Board for the purpose of making the lease, rental, or debt service payments described herein.