Menu
2019 Session

Budget Bill - HB1700 (Chapter 854)

Virginia Polytechnic Institute and State University

Item C-20.10

Item C-20.10

First Year - FY2019Second Year - FY2020
New Construction: Construct new academic facility, Innovation campus, Northern Virginia (18412)$0$275,000,000
Fund Sources: 
Higher Education OperatingFY2019 $0FY2020 $107,000,000
Bond ProceedsFY2019 $0FY2020 $168,000,000

A. The Virginia College Building Authority, pursuant to § 23.1-1200 et seq. of the Code of Virginia, is authorized to issue bonds in a principal amount not to exceed $168,000,000 plus amounts needed to fund issuance costs, reserve funds, original issue discount, interest prior to and during the acquisition or construction and for one year after completion thereof, and other financing expenses, to finance the capital costs of the project for which the appropriation in this Item is provided.


B. Debt service on bonds issued under the authorization in this Item shall be provided from appropriations to the Treasury Board.