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2012 Special Session I

Budget Bill - HB1300 (Chapter 2)

Treasury Board

Item 271

Item 271

First Year - FY2011Second Year - FY2012
Bond and Loan Retirement and Redemption (74300)$559,853,649$630,797,264
$618,748,710
Debt Service Payments on General Obligation Bonds (74301)FY2011 $119,034,910FY2012 $119,358,310
$118,329,018
Capital Lease Payments (74302)FY2011 $13,813,790FY2012 $13,802,699
Debt Service Payments on Public Building Authority Bonds (74303)FY2011 $245,681,006FY2012 $290,935,198
$283,891,103
Debt Service Payments on College Building Authority Bonds (74304)FY2011 $181,323,943FY2012 $206,701,057
$202,725,890
Fund Sources: 
GeneralFY2011 $531,376,401FY2012 $580,552,193
$568,068,039
SpecialFY2011 $2,417,353FY2012 $2,416,485
Higher Education OperatingFY2011 $26,059,895FY2012 $26,726,552
$27,162,152
Federal TrustFY2011 $0FY2012 $21,102,034

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, 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 2011

FY 2012


 


 

General Fund

Nongeneral Fund

General Fund

Nongeneral Fund

2002 Refunding

$9,208,300

$0

$8,813,800

$0

2003A

$3,822,288

$0

$3,696,288

$0

2004A

$9,639,062

$0

$10,500,626

$0

2004B Refunding

$12,259,550

$0

$11,808,050

$0

2005

$7,562,476

$0

$8,318,226

$0

2006A Refunding

$10,064,750

$0

$9,534,500

$0

2006

$7,732,588

$0

$8,686,088

$0

2007A

$11,365,463

$0

$11,052,963

$0

2007B

$7,138,025

$0

$6,938,025

$0

2008A

$8,651,563

$0

$8,454,563

$0

2008B

$8,951,438

$0

$8,801,438

$0

2008B Refunding

$5,634,341

$0

$5,349,963

$0

2009A

$7,445,000

$0

$7,285,000

$0

2009B

$3,455,316

$0

$3,436,869

$577,161

2009 Refunding

$6,064,750

$0

$6,064,750

$0

Projected debt service & expenses

$40,000

$0

$40,000

$0

Total Service Area

$119,034,910

$0

$118,781,149

$577,161


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 2011

FY 2012

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

$6,028,875

$6,019,000

Norfolk RHA (VCCS-TCC), Series 1995

$2,018,381

$2,018,255

Innovative and Entrepreneurship Investment Authority (VEDP) (1997)

$1,351,896

$1,350,568

Virginia Biotech Research Park, 2001

$2,823,638

$2,823,876

Virginia Biotech Research Park, 2009

$1,591,000

$1,591,000

Total Capital Lease Payments

$13,813,790

$13,802,699


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 2011

FY 2012 


 


Series

General Fund

Nongeneral Fund

General Fund

Nongeneral Fund

1992B Refunding

$7,410,000

$0

$0

$0

2000

$5,026,400

$0

$0

$0

2001

$1,724,013

$0

$1,720,806

$0

2002

 $2,879,913

$0

$2,614,288

$0

2003 Refunding

$4,876,429

$176,684

$4,877,095

$176,399

2004A

$23,932,131

$0

$23,905,256

$0

2004B

$18,209,713 

$0

$17,301,575 

$0

2004C

$4,545,000

$0

$4,552,875

$0

2004D

$7,510,731

$0

$12,520,338

$0

2005A Refunding

$5,149,625

$0

$5,137,500

$0

2005B Refunding

$19,235,648

$1,865,002

$19,241,586

$1,864,939

2005C

$6,022,313

$0

$6,020,938

$0

STARS 2005C

$12,247,875

$0

$12,250,625

$0

2005D

$650,000 

$0

$2,213,346

$0

2006A

$5,954,118

$0

$5,956,243

$0

STARS 2006A

$7,146,375

$0

$7,146,500

$0

2006B

$14,000,300

$0

$14,000,800

$0

STARS 2006B

$4,469,000

$0

$4,468,375

$0

2007A

$14,715,100

$0

$14,718,100

$0

STARS 2007A

$7,513,875

$0

$7,514,000

$0

2008A Refunding

$16,334,958

$375,667

$16,309,478

$375,147

2008B

$11,992,900

$0

$11,992,400

$0

2009A

$4,677,727

$0

$4,681,532

$0

2009B

$16,742,280

$0

$16,743,805

$0

2009B STARS

$6,581,500

$0

$6,580,850

$0

2009C

$1,087,702

$0

$1,088,808

$0

2009D

$1,974,350

$0

$1,972,725

$0

2010A

$10,553,676

$0

$22,252,457

$4,511,477

2010B

$0

$0

$22,262,663

4,142,834

Projected debt service and expenses

$100,000

$0

$9,819,438

$0

 

 

 

$3,975,242

 

Total Service Area

$243,263,653

$2,417,353

$279,864,402

$11,070,796 

 

 

 

$272,820,306

 


2.a. 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 53.1-82.2 of the Code of Virginia, for the following:


 

Commonwealth Share of

Project

Approved Capital Costs

Loudoun County Adult Detention Center Phase 2

$8,389,677

Riverside Regional Jail Expansion Phase 2

$41,662,121

Blue Ridge Regional Jail

$31,664,995

Meherrin River Regional Jail

$32,189,469

New River Valley Regional Jail

$29,868,567

Patrick County Jail

$2,689,032

Richmond City Jail Replacement

$29,702,708

Newport News Public Safety Building Life Safety Renovation

$875,294

Prince William / Manassas Regional Adult Detention Center (Jail Facility Phase I including renovations)

$31,519,905

RSW Regional Jail

$32,840,850

Eastern Shore Regional Jail

$3,116,122

Total Approved Capital Costs

$244,518,740


b. The Commonwealth's share of the total cost of construction for Meherrin River Regional Jail shall not exceed $32,189,469.  The Commonwealth's share of the total cost of construction of the Richmond City Jail Replacement shall not exceed $29,702,708.  The Commonwealth's share of the total cost of construction of the Newport News Public Safety Building Life Safety Renovation project shall not exceed $875,294.  The Commonwealth's share of the total cost of construction of the RSW Regional Jail project shall not exceed $32,840,850.  Reimbursement of the Commonwealth's portion of the construction costs of these projects shall be subject to the approval of the Department of Corrections of the final expenditures and will not occur before July 1, 2012.


c. 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.


d. Subject to the approval of the Department of Corrections of the final expenditures for the Prince William/Manassas Regional Adult Detention Center (Jail Facility Phase I including renovations), the state share of the approved capital cost for this project shall not exceed $31,519,905.


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 2011

 

FY 2012

 

 

General Fund

Nongeneral Fund

General Fund

Nongeneral Fund

2002

$4,037,925

$0

$4,038,925

$0

2003A

$5,262,900

$0

$5,263,400

$0

2004A 

$6,242,250

$0

$6,245,500

$0

2004B Refunding

$9,349,950

$0

$9,469,950

$0

2005A

$3,483,500

$0

$3,481,500

$0

2006

 $6,600,000

$0

$9,539,800

$0

2007A Refunding

$2,937,300

$0

$2,937,300

$0

2007B

$2,856,175

$0

$2,851,675

$0

2008A

$7,446,731

$0

$7,444,981

$0

2009A&B

$33,301,359

$0

$33,307,609

$0

2009C Refunding

$2,359,800

$0

$2,363,800

$0

2009E Refunding

$10,218,400

$0

$10,215,450

$0

2009F

$29,410,365

$0

$27,529,014

$6,701,322

2010B

$0

$0

$24,072,213

$5,169,239

Projected 21st Century debt service & expenses

$250,935

$0

$1,116,153

$0

 

 

 

$240,986

 

Subtotal 21st Century

$123,757,590

$0

$149,877,270

$11,870,561

 

 

 

$145,902,106

 

 

 

 

 

 

 

 


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 2011

FY 2012

2006

$12,951,750

$0

2007B

$18,775,750

$18,779,250

2008A

$8,231,750

$8,229,250

2009D

$9,049,150

$9,051,425

2010A

$8,557,953

$8,893,301

Projected debt service & expenses

$0

$0

Subtotal Equipment

$57,566,353

$44,953,226

Total Service Area

$181,323,943

$206,701,057

 

 

$202,725,890


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 2011

FY 2012

George Mason University

$1,734,228

$1,819,170

 

 

$2,073,870

Old Dominion University

$832,590

$886,050

 

 

$966,510

University of Virginia

$4,266,442

$4,304,700

 

 

$4,335,120

Virginia Polytechnic Institute and State University

$4,084,515

$4,053,330

 

 

$4,204,800

Virginia Commonwealth University

$1,854,360

$1,906,560

 

 

$1,558,530

College of William and Mary

$1,213,882

$1,256,580

 

 

$1,284,120

Christopher Newport University

$101,790

$118,800

 

 

$108,270

University of Virginia's College at Wise

$35,108

$34,650

 

 

$37,350

James Madison University

$2,430,855

$2,443,140

 

 

$2,429,190

Norfolk State University

$433,605

$459,990

 

 

$453,960

Longwood University

$118,410

$120,600

 

 

$107,910

University of Mary Washington

$422,985

$373,500

 

 

$308,790

Radford University

$304,470

$266,040

 

 

$251,820

Virginia Military Institute

$292,118

$311,400

 

 

$315,900

Virginia State University

$749,985

$765,990

 

 

$780,660

Richard Bland College

$5,730

$4,950

 

 

$6,300

Virginia Community College System

$2,336,220

$2,758,500

 

 

$3,096,450

TOTAL

$21,217,293

$21,883,950

 

 

$22,319,550


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 FY 2008 allocation of the higher education equipment trust fund, the Treasury Board shall amortize equipment purchases at seven years, which is consistent with the useful life of the equipment.


 

FY 2011

FY 2012

 


 


Institution

General Fund

Nongeneral Fund

General Fund

Nongeneral Fund

College of William & Mary

$1,541,950

$259,307

$1,469,205

$259,307

University of Virginia

$10,093,515

$1,088,024

$9,339,830

$1,088,024

Virginia Polytechnic Institute and State University

$9,354,885

$992,321

$8,755,725

$992,321

Virginia Military Institute

$593,290

$88,844

$505,625

$88,844

Virginia State University

$949,330

$108,886

$872,855

$108,886

Norfolk State University

$1,337,165

$108,554

$806,885

$108,554

Longwood University

$520,085

$54,746

$487,775

$54,746

University of Mary Washington

$494,188

$97,063

$437,530

$97,063

James Madison University

$1,671,180

$254,504

$1,511,855

$254,504

Radford University

$1,115,115

$135,235

$1,066,500

$135,235

Old Dominion University

$3,379,770

$374,473

$3,147,225

$374,473

Virginia Commonwealth University

$7,726,995

$401,647

$7,322,975

$401,647

Richard Bland College

$121,730

$2,027

$111,875

$2,027

Christopher Newport University

$558,715

$17,899

$512,725

$17,899

University of Virginia's College at Wise

$211,295

$19,750

$184,280

$19,750

George Mason University

$3,520,240

$205,665

$3,357,410

$205,665

Virginia Community College System

$9,426,165

$633,657

$8,675,410

$633,657

Virginia Institute of Marine Science

$516,760

$0

$489,925

$0

Roanoke Higher Education Authority

$56,105

$0

$52,315

$0

Southwest Virginia Higher Education Center

$53,375

$0

$49,810

$0

Institute for Advanced Learning and Research

$680,565

$0

$135,475

$0

Southern Virginia Higher Education Center

$19,175

$0

$23,435

$0

New College Institute

$24,205

$0

$34,845

$0

TOTAL

$53,965,798

$4,842,602

$49,351,490

$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 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 456, paragraph E of this act and §§ 58.1-815, 58.1-815.1 and 58.1-816.1, Code of Virginia, as follows:.


 

FY 2011

FY 2012


 


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

$7,528,835

 

$7,529,625

 

Commonwealth of Virginia Transportation Revenue Bonds

 

 

U.S. Route 58 Corridor Development Program:

 

 

Series 2001B

$3,760,113

$3,758,563

Series 2002B (Refunding)

$7,234,938

$7,235,688

Series 2003A (Refunding)

$9,916,775

$9,911,725

Series 2004B

$23,086,913

$23,088,263

Series 2006C

$3,173,000

$3,173,000

Series 2007B

$4,197,750

$4,197,750

Northern Virginia Transportation District Program:

 

 

Series 2001A

$2,822,413

$2,826,213

Series 2002A

$12,359,444

$12,358,944

Series 2004A

$8,294,750

$8,289,250

Series 2006B

$973,363

$973,363

Series 2007A

$4,526,600

$4,535,600

Series 2009A-1

$2,206,150

$2,207,350

Series 2009A-2

$3,305,799

$3,305,799

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

$2,226,750

 

$2,229,750

 

Capital Project Revenue Bonds:

 

 

Series 2010A-1

$17,181,308

$16,927,750

Series 2010A-2

$19,729,738

$20,351,592


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.