Menu
2009 Session

Budget Bill - HB1600 (Introduced)

9(D) Revenue Bonds

Item C-181.10

Item C-181.10

First Year - FY2009Second Year - FY2010
Reversion Clearing Account: Supplant Capital Projects - VPBA (17643)$10,700,000$0
$7,640,938
Fund Sources:  
GeneralFY2009 -$55,000,000FY2010 $0
Bond ProceedsFY2009 $10,700,000
$65,700,000
FY2010 $0
$7,640,938

A.1. This Item authorizes capital projects to be financed pursuant to Article X, Section 9(d) of the Constitution of Virginia.


2. This paragraph shall constitute the authority for the Virginia Public Building Authority to finance capital projects contained in Item C-326.30 of HB 29 as enacted by the 2008 Session of the General Assembly as well as the following capital projects listed in this Item paragraph through the issuance of revenue bonds in aggregate principal amounts not to exceed $125,000,000 $132,065,000, plus amounts to fund related issuance costs, reserve funds, and other financing expenses, in accordance with § 2.2-2263 of the Code of Virginia.  The Director, Department of Planning and Budget, shall provide the Chairman of the Virginia Public Building Authority with the specific projects as well as the amounts for those projects to be financed within the dollar limit established by this authorization.


3. The Director, Department of Planning and Budget, shall restore from proceeds of bonds authorized for issuance by the Virginia Public Building Authority pursuant to § 2.2-2263 of the Code of Virginia, an amount equivalent to the general fund appropriation reverted from the following capital projects listed in the table below by agency, fund code, and project code:


Agency Code

Project Code

Fund Code

194

17091

0100

194

17490

 0100

199

16937

0100

425

17209

0100

702

17231

0100

720

17140

0100

777

17179

0100

799

16110

0100

799

16113

0100


4. The Director, Department of Planning and Budget, shall restore from proceeds of bonds authorized for issuance by the Virginia Public Building Authority pursuant to § 2.2-2263 of the Code of Virginia, an amount equivalent to the general fund appropriation reverted from the capital projects contained in Item C-326.30 of HB 29 as enacted by the 2008 Session of the General Assembly.


5. The appropriations for the capital projects contained in this Item and in Item C-326.30 of HB 29, as enacted by the 2008 Session of the General Assembly, are subject to paragraph F. of § 2-0 of this act.


B.1. In the first year, the Director, Department of Planning and Budget, shall transfer general fund amounts estimated at $55,000,000 to this Item from the projects listed in this paragraph.  The Director, Department of Planning and Budget, may direct the restoration of any portion of the transferred amount if the director shall subsequently verify an unpaid obligation cannot be paid as a result of this transfer.


2. The Virginia Public Building Authority is authorized to finance the capital projects listed in this paragraph through the issuance of revenue bonds in the aggregate principal amounts not to exceed $55,000,000, plus amounts to fund related issuance costs, reserve funds, and other financing expenses, in accordance with § 2.2-2263 of the Code of Virginia.  The Director, Department of Planning and Budget, shall provide the Chairman of the Virginia Public Building Authority with the specific projects as well as the amounts for those projects to be financed within the dollar limit established by this authorization.


3. In the first year, the Director, Department of Planning and Budget, shall restore from proceeds of bonds authorized for issuance by the Virginia Public Building Authority pursuant to § 2.2-2263 of the Code of Virginia, an amount equivalent to the general fund appropriation reverted from the following capital projects listed in the table below by agency and project code:


Agency Code

Project Code

146

16783

194

14008

194

16881

194

16967

194

17091

194

17490

194

17499

199

16937

199

17496

203

15825

203

17229

203

17443

218

17435

238

16495

238

17170

238

17353

263

17230

425

17209

425

17455

702

17231

720

16726

720

16973

720

17140

720

17211

720

17227

720

17228

720

17276

720

17456

799

15200

799

15755

799

16104

799

16110

799

16113

799

16115

799

16424

799

16426

799

16732

799

16990

799

16991

799

16993

799

17139

799

17260

799

17263

799

17264

799

17265

799

17266

948

16864

123

17245

156

17250

156

17504

777

15203

777

15204

777

17254

777

17255

777

17257

778

17173

778

17459

912

16249

942

14439


4. The appropriations for the capital projects contained in this Item are subject to paragraph F. of § 2-0 of this act.


C.1. The Virginia Public Building Authority is authorized to finance the capital projects listed in this Paragraph through the issuance of revenue bonds in the aggregate principal amounts not to exceed $7,640,938, plus amounts to fund related issuance costs, reserve funds, and other financing expenses, in accordance with § 2.2-2263 of the Code of Virginia.  The Director, Department of Planning and Budget, shall provide the Chairman of the Virginia Public Building Authority with the specific projects as well as the amounts for those projects to be financed within the dollar limit established by this authorization.


2. In the second year, the Director, Department of Planning and Budget, shall restore from proceeds of bonds authorized for issuance by the Virginia Public Building Authority pursuant to § 2.2-2263 of the Code of Virginia, an amount equivalent to the general fund appropriation reverted from the following capital projects listed in the table below by agency and project code:


Agency Code

Project Code

 

 

238

16495

777

16723

799

17267


3. The appropriations for the capital projects contained in this Item are subject to paragraph F. of § 2-0 of this act.