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2001 SPECIAL SESSION I

012996238
HOUSE BILL NO. 9
House Amendments in [ ] -- May 4, 2001
A BILL to authorize certain capital projects, which may be supported in whole or in part through bonds of the Virginia College Building Authority not to exceed [ $210,722,450 $215,722,450 ] ; to authorize the Virginia Public Building Authority to undertake certain capital projects and to issue revenue bonds for the projects not to exceed [ $28,595,000 $40,601,400 ] ; and to appropriate nongeneral funds in the amount of $68,397,000 to fund in whole or in part certain capital projects of the Commonwealth.
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Patron Prior to Engrossment--Delegate Councill
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Referred to Committee on Appropriations
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Be 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 $215,722,450 ] 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
[ George Mason University  Prince William Campus Sitework  16195  5,000,000]
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 $215,722,450 ] 

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 $40,601,400 ] 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
 [ Dept. of Agriculture 
  and Consumer Services   Eastern Shore Seafood Market  16516    4,403,200 
Dept. of Agriculture 
  and Consumer Services  Carroll County Farmers Market  17050    4,603,200 
Jamestown-Yorktown 
  Foundation           Renovation of Jamestown Gallery  16026    3,000,000 ] 
Total                                            [ $28,595,000 $40,601,400 ] 

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. The Science Museum of Virginia, George Mason University and the Department of the Treasury are authorized to negotiate with Prince William County, its agents or instrumentalities, for the financing, acquisition, construction and equipping of a new science center and academic and educational laboratory facility. No agreement for such purpose shall be entered into by the parties without the approval of the 2002, or subsequent, session of the General Assembly and the Governor, based upon the estimated cost and benefit of such proposal. Any proposed agreement shall provide that title to real property sufficient upon which to construct the facilities shall be, in fee simple, at no cost to the Commonwealth, Prince William County, or Prince William County’s agents or instrumentalities. Financing for the proposed facilities may be based on lease payments by the Commonwealth, and/or other sources, sufficient to pay all debt service and administrative expenses on any bonds issued for the facility by Prince William County, its agents or instrumentalities. The facilities contemplated herein generally are described as museum galleries and exhibit spaces, laboratories, offices, and ancillary areas for operations of the Science Museum of Virginia and George Mason University, estimated at 170,000 square feet, more or less. ]

[ 2. 3. ] 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.