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2001 SPECIAL SESSION I
012996238Be it enacted by the General Assembly of Virginia:
1. § 1. That certain capital projects are authorized to be funded through bonds of the Virginia College Building Authority as follows:
1. That the General Assembly hereby authorizes the following capital projects, which may be supported in whole or in part through bonds of the Virginia College Building Authority pursuant to Chapter 3.2 (§ 23-30.23 et seq.) of Title 23 of the Code of Virginia. Bonds issued to finance these projects may be sold and issued under the 21st Century College Program at the same time with other obligations of the Authority as separate issues or as a combined issue. The total amount of bonds issued shall not exceed $210,722,450 as follows:
Agency Project Code Amount
Christopher Newport Performing Arts Center 15915 $7,000,000
College of William & Mary Rogers Hall 17029 15,215,000
George Mason University Fairfax IV Equipment 14650 2,500,000
George Mason University Arlington, Phase II 16523 15,000,000
James Madison University Harrison Hall 16525 7,206,000
Longwood College Science Bldg Supplement 16251 1,319,000
Longwood College Modernize Heat Plant 17030 1,740,000
Mary Washington College Stafford Phase II 17031 6,000,000
Norfolk State University Teacher Educ Renov 15891 4,000,000
Old Dominion University Batten Arts and Letters 16598 10,807,000
Radford University Porterfield Hall 16618 1,100,000
Radford University Davis Hall 16596 1,300,000
Richard Bland College Library 16604 2,700,000
University of Virginia Medical Research Bldg 16582 13,500,000
University of Virginia Renovate Cocke Hall 16584 5,000,000
Univ of VA's College at Wise-Crockett Hall 16529 4,325,000
Virginia Commonwealth Univ Massey Cancer Center 17024 13,000,000
Virginia Commonwealth Univ Renovate Business Bldg. 16289 1,800,000
Virginia Commonwealth Univ Renovate Univ Libraries 16292 1,600,000
Virginia Commonwealth Univ Renovate Hibbs Building 16291 1,600,000
VA Community College System-Equip Medical Educ Campus
Northern Virginia 15874 2,998,000
VA Community College System-Equip Adv Tech Building,
Virginia Beach 16091 1,819,000
VA Community College System-Equip Loudoun Science
Building, Northern VA 16146 462,000
VA Community College System-Equip Fredericksburg II,
Germanna 16260 1,876,000
VA Community College System-Parham Road, Phase IV 17032 12,700,000
VA Community College System-Science Building,
Lord Fairfax 17025 5,437,000
VA Community College System-Academic Bldg, VA Beach 17026 12,992,000
VA Community College System-Workforce Center, Phase II
Rappahannock 16533 1,750,000
VA Community College System-Manufacturing Tech Building,
Central Virginia 16502 4,354,450
VA Inst for Marine Science Replace Brooke/Davis Hall 16522 12,730,000
Virginia Military Institute-Nichols Engineering Bldg 16586 12,500,000
Virginia State University Gandy Hall 16587 5,775,000
Virginia Polytechnic Institute
and State University Bioinformatics, Phase II 17027 12,500,000
Virginia Polytechnic Institute
and State University Improve Henderson Hall 17028 6,117,000
Total $210,722,450
2. Debt service on the projects shall be provided from appropriations to the Treasury Board.
§ 2. 1. That the Virginia Public Building Authority is authorized to finance the following projects by the issuance of revenue bonds in aggregate principal amounts not to exceed $28,595,000 plus amounts needed to fund issuance costs, reserve funds, and other financing expenses, including capitalized interest for the projects, in accordance with Article 8 (§ 2.1-234.10 et seq.) of Chapter 14 of Title 2.1 of the Code of Virginia.
Agency Project Code Amount
Dept of Veterans Affairs New Veterans Care Facility 16249 $9,207,000
VA Community College System
Peninsula Workforce Ctr, TNCC 17017 11,000,000
VA Museum of Fine Arts Parking Deck 17034 8,388,000
Total $28,595,000
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 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, interest prior to or during improvement and for up to one year after completion of the improvement and other financing expenses.
3. The General Assembly hereby appropriates and reappropriates therefor sums from the sources and in the amount indicated for the foregoing projects.
4. In the event that the cost of any of the foregoing capital projects shall exceed the amount appropriated therefor, the Director of the Department of Planning and Budget is hereby authorized, upon request of the affected agency or institution, to approve an increase in appropriation authority of not more than ten percent of the amount designated for such project, from any available nongeneral fund revenues, provided that such increase shall not constitute an increase in debt issuance authorization for such capital project. Furthermore, the Director of the Department of Planning and Budget is hereby authorized to approve the expenditure of all interest earnings derived from the investment of bond proceeds in addition to the amount designated for such capital project.
5. The interest on bonds to be issued for these projects may be subject to inclusion in gross income for federal income tax purposes.
6. Inclusion of a project in this act does not imply a commitment of state funds for temporary construction financing. In the absence of such commitment, the agency or institution may be responsible for securing short-term financing and covering the costs from other sources of funds.
§ 3. That there is hereby appropriated $68,397,000 from nongeneral fund sources for the following capital projects in the amounts specified:
Agency Project Code Amount
Dept of Veteran Affairs New Veterans Care Facility 16249 17,099,000
George Mason University Arlington, Phase II 16523 8,475,000
University of Virginia Medical Research Building 16582 31,000,000
VA Community College System-Parham Road, Phase I 17032 705,000
VA Community College System-Science Bldg, Lord Fairfax 17025 1,250,000
VA Community College System-Academic Bldg, VA Beach 17026 1,474,000
Virginia Polytechnic Institute
and State University Bioinformatics, Phase II 17027 8,394,000
Total $68,397,000
2. That the appropriations made pursuant to this act are in addition to any and all applicable appropriations made pursuant to Chapter 1073 of the Acts of Assembly of 2000.