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2000 SESSION

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008856660
HOUSE BILL NO. 435 Offered January 17, 2000 A BILL to authorize a project to be undertaken by the Virginia Public Building Authority. ---------- Patrons-- Callahan and Dickinson ---------- Referred to Committee on Appropriations ----------

Be it enacted by the General Assembly of Virginia:

1. § 1. That pursuant to § 2.1-234.13 of the Code of Virginia, the General Assembly hereby authorizes the Virginia Public Building Authority to undertake a project consisting of the acquisition of the building, improvements, and appurtenant land currently being leased to the Commonwealth for the Department of Correction's headquarters located at 6900 Atmore Drive in the City of Richmond. The principal amount of the project shall not exceed $16,400,000.

§ 2. The Virginia Public Building Authority is also authorized to exercise any and all powers granted to it by law in connection therewith, including the power to lease such project to the Commonwealth and to finance the cost thereof by the issuance of revenue bonds not to exceed the principal amount set forth plus amounts needed to fund issuance costs, reserve funds, and other financing expenses.