SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2008 SESSION

086014212
SENATE BILL NO. 795
Offered February 11, 2008
A Bill to amend and reenact § 2.2-1503.2 of the Code of Virginia relating to capital improvement planning and funding; authorizing the issuance of Commonwealth of Virginia General Obligation Bonds in an amount not exceeding $1,525,492,000 for the purpose of financing the costs of capital projects for educational facilities and providing that the Commonwealth of Virginia Educational Facilities Bond Act of 2008 shall not become effective and that no bonds shall be issued under the Act unless the Commonwealth of Virginia Educational Facilities Bond Act of 2008 shall be approved by a majority of the qualified voters of the Commonwealth voting thereon at an election, as required by Article X, Section 9(b) of the Constitution of Virginia; authorizing for certain projects to be financed by the Virginia Public Building Authority with the principal amount of bonds issued for all such projects not to exceed $493,420,000; and authorizing for certain projects to be financed by the Virginia College Building Authority with the principal amount of bonds issued for all such projects not to exceed $187,928,000.
----------
Patron-- Colgan
----------
Introduced at the request of Governor
----------
Referred to Committee on Finance
----------

Be it enacted by the General Assembly of Virginia:

1. That § 2.2-1503.2 of the Code of Virginia is amended and reenacted as follows:

§ 2.2-1503.2. Filing of six-year capital improvement plan by Governor.

A. For purposes of this section:

"Capital outlay project" means acquisition of real property (including buildings or plant) or machinery or equipment, new construction, and improvements related to state-owned real property, buildings, plant, machinery or equipment (including plans therefor). It shall include any improvements to real property leased for use by a state agency, and not owned by the Commonwealth, when such improvements are financed by public funds and become state property upon the expiration of the lease. Capital outlay projects do not include projects that have been included in the Commonwealth Transportation Board's Six-Year Improvement Program.

B. On or before November 1 of the year immediately prior to the beginning of each regular session of the General Assembly held in an even-numbered year, the Governor shall submit to the members of the General Assembly a six-year capital improvement plan. The plan shall include all capital outlay projects that the Governor deems necessary for the six fiscal years immediately following the current fiscal year. The Governor shall include such plan in the “Budget Bill” submitted pursuant to subsection A of § 2.2-1509, and the Governor shall amend such plan as appropriate or warranted in his gubernatorial amendments proposed to the general appropriation act pursuant to subsection E of such section. The plan shall:

1. Identify each capital outlay project;

2. Describe the scope and nature of the project;

3. Provide an estimate of the total cost of each project upon payment in full;

4. Detail, by fiscal year, the source or sources of funds recommended for each capital outlay project;

5. Explain the specific criteria or justification that was used in determining the fiscal year in which funds were allocated to projects; and

6. Include any other information as may be requested by the General Assembly.

Any capital outlay project that requires additional funds in excess of the latest estimate submitted to the General Assembly, shall be included in the six-year plan with an updated estimate of the total cost as provided herein.

C. The capital improvement plan shall include a list of capital outlay projects that would be funded in whole or in part from general funds for each of the succeeding fiscal years in an amount equal to at least two percent of the anticipated general fund revenues for the respective fiscal year, as such revenues are estimated pursuant to § 2.2-1503. The amount of general funds included in the capital improvement plan shall be in addition to any allocation to capital outlay projects from the Central Maintenance Reserve of the general appropriation act.

2.  § 1.  Title.

The second enactment clause of this act shall be known and may be cited as the “Commonwealth of Virginia Educational Facilities Bond Act of 2008.”

§ 2.  Authorization of Bonds and BANs.  The provisions of the Commonwealth of Virginia Educational Facilities Bond Act of 2008 shall be subject to a favorable vote of a majority of the qualified voters voting on the Commonwealth of Virginia Educational Facilities Bond Act of 2008 at the November 4, 2008 general election as hereinafter provided. Thereafter, the Treasury Board is hereby authorized, by and with the consent of the Governor, to sell and issue, at one time or from time to time, bonds of the Commonwealth, to be designated “Commonwealth of Virginia General Obligation Bonds, Series....” in an aggregate principal amount not exceeding $1,525,492,000. The Treasury Board is further authorized, by and with the consent of the Governor, to borrow money in anticipation of the issuance of the bonds by the issuance of bond anticipation notes (“BANs”), including BANs issued as commercial paper. 

§ 3.  Purpose; Projects.  The proceeds of the bonds and BANs, excluding amounts needed to pay issuance costs and other financing expenses, shall be used as provided in § 4 hereof for capital projects for educational facilities as follows:

Educational Facility          Project Description              Amount
College of William and Mary   Construct/Replace Cooling
                               Plant & Utility Improve-
                               ments Phase II             $11,745,000
College of William and Mary   Construct Integrated
                               Science Center, Phase III   35,000,000
University of Virginia        Construct Information
                               Technology Engineering
                               Building                    37,921,000
University of Virginia        Renovate New Cabell Hall     77,600,000
Virginia Tech                 Construct Medical School
                               and Research Institute      59,000,000
Virginia Tech                 Renovate Davidson Hall       30,124,000
Virginia Tech                 Construct Sciences Building
                               Laboratory I                28,758,000
Virginia Tech Extension       Construct Human and Agricul-
                               tural Biosciences Building
                               I                           28,293,000
Virginia Military Institute   Improve Military and Leader-
                               ship Field Training Grounds
                               Phase I                     15,119,000
Virginia Military Institute   Renovate Science Building    16,330,000
Virginia Military Institute   Renovate Post Hospital        4,137,000
Virginia State University     Renovate/Expand Hunter
                               McDaniel Hall               22,345,000
Virginia State University     Construct Multipurpose
                               Center                      50,625,000
Norfolk State University      Construct New Nursing and
                               General Classroom Building  34,069,000
Longwood University           Renovate and Expand Bedford
                               Hall                        29,499,000
Longwood University           Construct University Techno-
                               logy Center                 19,871,000
Longwood University           Renovation of Heating Plant
                               Facility                     7,067,000
University of Mary            Construct Dahlgreen Campus
 Washington                                                23,000,000
University of Mary            Construct Jepson Science
 Washington                    Center Addition              7,053,000
James Madison University      Construct Biotechnology/
                               Centennial Hall             44,809,000
James Madison University      Renovate/Expand Duke Hall    43,472,000
Radford University            Construct New Computational
                               Sciences Building           36,235,000
Old Dominion University       Construct New Student
                               Success Facilities          11,131,000
Old Dominion University       Establish a Consolidated
                               Arts Complex                19,151,000
Old Dominion University       Construct a Systems Research
                               and Academic Building       18,147,000
Old Dominion University       Renovate and Construct Child
                               Development Centers          9,789,000
Old Dominion University       Renovate the Education
                               Building                     9,984,000
Old Dominion University       Renovate Spong and Rollins
                               Hall                        19,076,000
Virginia Commonwealth         Construct New School of
 University                    Medicine, Phase I           59,000,000
Virginia Commonwealth         Construct General Classroom
 University                    Building                    41,042,000
Virginia Commonwealth         Renovate Massey Cancer
 University                    Laboratory Support           5,913,000
Richard Bland College         Construct Science and Tech-
                               nology Center               19,000,000
Christopher Newport           Construct Integrated Science
 Center                        Center                      76,972,000
University of Virginia at     Construct New Library
 Wise                                                      41,710,000
George Mason University       Renovate Science and Tech-
                               nology II                   49,679,000
George Mason University       Construct Krasnow Addition,
                               Phase II                     5,644,000
George Mason University       Construct Campus Library
                               Addition, Phase I           50,291,000
Virginia Community College    Construct New Science and
 System                        Technology Building,
                               Virginia Western            22,717,000
Virginia Community College    Renovate Academic Classrooms
 System                        and Administrative Building,
                               Rappahannock                10,564,000
Virginia Community College    Construct Phase III Academic
 System                        Building, Woodbridge Campus,
                               Northern Virginia           38,222,000
Virginia Community College    Renovate Dalton Cantrell
 System                        Hall, Mountain Empire       11,208,000
Virginia Community College    Renovate Phase I Facility,
 System                        Downtown Campus, J. Sargeant
                               Reynolds                    10,820,000
Virginia Community College    Construct Academic Services
 System                        Building, Germanna          23,286,000
Virginia Community College    Construct Academic Building,
 System                        Chesapeake Campus,
                                Tidewater                  20,573,000
Virginia Community College    Construct Higher Education
 System                        Center, Loudoun Campus,
                               Northern Virginia           14,263,000
Virginia Community College    Construct Workforce Develop-
 System                        ment Center, Piedmont
                               Virginia                     6,854,000
Virginia Community Colllege   Renovate Hampton III Build-
 System                        ing, Thomas Nelson           8,033,000
Virginia Community College    Renovate Building B, J.
 System                        Sargeant Reynolds-Parham Road
                               Campus                       4,704,000
Virginia Community College    Renovate Bird and Nicholas
 System                        Halls, John Tyler-Chester
                               Campus                      16,054,000
Virginia Community College    Construct Learning Resources
 System                        Building, Southside
                               Virginia                    11,448,000
Virginia Community College    Construct Learning Resources
 System                        Building, Virginia Beach
                               Campus, Tidewater           36,891,000
Virginia Community College    Replace HVAC, New River
 System                                                     1,439,000
Virginia Community College    Upgrade Electrical Systems,
 System                        Wytheville                   2,566,000
Virginia Community College    Upgrade Major Mechanical
 System                        Systems, Paul D. Camp        3,442,000
Virginia Community College    Renovate Phase I Academic
 System                        and Administration Building,
                               Eastern Shore                9,287,000
Virginia Community College    Renovate Russell Hall,
System                         Southwest Virginia           9,645,000
Virginia Community College    Renovate Library and Learning
 System                        Resource Center, Virginia
                               Highlands                    2,365,000
Virginia Community College    Construct Workforce Develop-
 System                        ment Center, Woodbridge
                               Campus, Northern Virginia   23,668,000
Virginia Community College    Construct New Location for
 System                        Trucking Program, Portsmouth
                               Campus, Tidewater            8,440,000
Virginia Community College    Construct Workforce Solutions
 System                        & Academic Training Center,
                               Fauquier, Lord Fairfax      13,937,000
Virginia Community College    Construct Occupational Pro-
 System                        gram Building, Culinary Arts
                               Career Studies Certification
                               Program, Central Virginia    1,448,000
Virginia Community College    Construct Motorsports/
 System                        Workforce Development
                               Center, Patrick Henry        8,715,000
Virginia Community College    Renovate Engineering and
 System                        Industrial Technology
                               Building, Danville           6,332,000
Virginia Community College    Construct Classroom and
 System                        Administration Building,
                               Blue Ridge                   5,616,000
Virginia Community College    Renovate Warren and Scott
 System                        Halls, Dabney S. Lancaster   6,339,000
Virginia Institute of Marine  Replace Eastern Shore
 Science                       Seawater Laboratory          4,182,000
Virginia Institute of Marine  Control Shoreline Erosion
 Science                                                    1,200,000
Eastern Virginia Medical      Construct Instructional and
 School                        Research Medical Facility   59,000,000
Frontier Culture Museum       Construct Early American
                               Industry Exhibit             1,407,000
Science Museum of Virginia    Construct Belmont Bay
                               Science Center              20,000,000
Science Museum of Virginia    Construct Danville Science
                               Center Planetarium &
                               Theater                      2,226,000
Grand Total                                            $1,525,492,000

The General Assembly hereby finds and determines that the estimated useful life of the capital projects described above is in excess of twenty-one years.

The Governor or the Governor’s designee shall designate the amount of the proceeds of the bonds and BANs allocated to any other capital project included herein.  No allocation to a capital project may be increased until it has been demonstrated to the satisfaction of the Governor or the Governor’s designee that (a) the cost of the capital project has been reduced to the extent reasonable, (b) the capital project has not been expanded or enhanced beyond that originally approved, and (c) the capital project is suitable and adequate for the scope originally intended.  No increase in the amount allocated to any capital project shall constitute an authorization for the issuance of bonds in an amount in excess of the aggregate amount authorized hereunder.

§ 4.  Application of Proceeds.

Proceeds (including any premium) of the bonds and any BANs (except the proceeds of (i) bonds the issuance of which has been anticipated by BANs, (ii) refunding bonds and (iii) refunding BANs) shall be deposited by the State Treasurer in a special capital outlay fund in the State Treasury and shall be disbursed only for the purpose for which the bonds or any BANs have been issued.  In the event that the proceeds of the bonds or BANs exceed the cost of the projects as allocated in § 3, the Treasury Board shall cause such excess proceeds to be applied to the retirement of bonds or BANs.  The proceeds of (i) bonds the issuance of which has been anticipated by BANs, (ii) refunding bonds and (iii) refunding BANs and any funds provided by the General Assembly, or available from any other source, for the purpose, shall be used to pay such BANs, refunded bonds and refunded BANs.

The proceeds of the bonds and any refunding bonds or BANs are hereby appropriated for disbursement from the State Treasury for the current biennium pursuant to Article X, Section 7 of the Constitution of Virginia, and § 2.2-1819 of the Code of Virginia.  The general conditions and general provisions of the general appropriation act enacted pursuant to Chapter 15, Title 2.2 (2.2-1500 et seq.) of the Code of Virginia, in effect from time to time, and all of the terms and conditions contained therein shall apply to the capital projects listed in § 3.  The Governor or his designee is hereby authorized to increase the appropriation for any project listed in § 3 by the amount of the proceeds of donations, gifts, grants or other nongeneral funds paid into the state treasury in excess of such appropriation.

§ 5.  Details, sale of bonds and BANs.

The bonds shall be dated, shall mature at such time or times not exceeding twenty-one years from their date or dates and may be made redeemable before their maturity or maturities at such price or prices or within such price parameters, all as may be determined by the Treasury Board, by and with the consent of the Governor.  The principal of the bonds shall be amortized, by payment into a sinking fund or otherwise, in annual installments.  The first annual installment of principal of the bonds shall become due not later than one-tenth of the term of the bonds, and no installment of principal of the bonds shall be more than twice the smallest previous installment.  Any such sinking fund shall not be appropriated for any other purpose.

The bonds shall be in such form, shall bear interest at such rate or rates, either at fixed rates or at rates established by formula or other method, and may contain such other provisions, all as the Treasury Board or the State Treasurer, when authorized by the Treasury Board, may determine.  The principal of and premium, if any, and interest on the bonds and BANs shall be payable in lawful money of the United States of America.  Bonds and BANs may be certificated or uncertificated as determined by the Treasury Board.  The Treasury Board may contract for services of such registrars, transfer agents, or other authenticating agents as it deems appropriate to maintain a record of the persons entitled to the bonds and BANs.  Bonds and BANs may be issued under a system of book entry for recording the ownership and transfer of ownership of rights to receive payments on the bonds and BANs.  The Treasury Board shall fix the denomination or denominations of the bonds and the place or places of payment of principal, premium, if any, and interest, which may be at the office of the State Treasurer or at any one or more banks or trust companies within or without the Commonwealth.

The Treasury Board may sell the bonds and any BANs in such manner, either by competitive bidding, negotiated sale or private placement, and for such price as it may determine, by and with the consent of the Governor, to be in the interest of the Commonwealth.

At  the discretion of the Treasury Board, bonds and BANs may be issued at one time or in part from time to time and may be issued and sold at the same time with other general obligation bonds and bond anticipation notes, respectively, of the Commonwealth authorized pursuant to Article X, Section 9(a)(3), (b) or (c) of the Constitution of Virginia, either as separate issues, as a combined issue designated “Commonwealth of Virginia General Obligation Bonds/Bond Anticipation Notes, Series 20....,” or as a combination of both. The bonds and BANs shall be signed on behalf of the Commonwealth by the Governor and by the State Treasurer, or shall bear their facsimile signatures, and shall bear the lesser seal of the Commonwealth or a facsimile thereof.  In the event that the bonds or BANs bear the facsimile signature of the State Treasurer, they shall be signed by such administrative assistant as the State Treasurer shall determine or by such registrar or paying agent as may be designated to sign them by the Treasury Board.  If any officer whose signature or facsimile signature shall appear on any bonds or BANs shall cease to be such officer before the delivery, such signature or such facsimile shall nevertheless be valid and sufficient for all purposes the same as if such officer had remained in office until such delivery, and any bond or BAN may bear the facsimile signature of, or may be signed by, such persons as at the actual time of the execution are the proper officers to sign such bond or BAN although, at the date of such bond or BAN, such persons may not have been such officers.

§ 6.  Refunding.

The Treasury Board is hereby authorized, by and with the consent of the Governor, to sell and issue, at one time or from time to time, refunding bonds and BANs of the Commonwealth, to refund any or all of the bonds and BANs, respectively, issued under this Act or otherwise pursuant to Article X, Section 9(b), Constitution of Virginia. Refunding bonds and BANs may be issued in a principal amount up to the amount necessary to pay at maturity or redeem the bonds and BANs to be refunded and pay all issuance costs and other financing expenses of the refunding.  Such refunding bonds and BANs may be issued whether or not the bonds or BANs to be refunded are then subject to redemption.  Any escrow or trust fund established with the proceeds from the sale of refunding bonds shall be irrevocably pledged to the payment of the bonds to be refunded, and shall be used solely to pay such bonds or BANs at maturity or upon redemption or for the purchase of not less than all of the bonds or BANs to be refunded.  Any such escrow or trust fund shall constitute a special fund for the payment of such refunded bonds or BANs, and such refunded bonds or BANs, to the extent of amounts, including the maturity amounts of investments, set aside for the payment thereof in such escrow or trust fund, shall not be included for the purposes of determining any limitations upon the amount of bonded indebtedness of the Commonwealth that may be incurred pursuant to Article X, Section 9(b), the Constitution of Virginia.  The Treasury Board may, however, direct that the interest received from the investment of the proceeds of the bonds or any BANs be transferred to the general fund of the State Treasury.

§ 7.  Investments and Contracts.

A.  Pending the application of the proceeds of the bonds or BANs (including refunding bonds and BANs) to the purpose for which they have been authorized and the application of funds set aside for the purpose to the payment of bonds or BANs, they may be invested by the State Treasurer in securities that are legal investments under the laws of the Commonwealth for public funds and sinking funds, as the case may be.  Whenever the State Treasurer receives interest from the investment of the proceeds of bonds or any BANs, such interest shall become a part of the principal of the bonds or any BANs and shall be used in the same manner as required for principal of the bonds or BANs.

B. The Commonwealth may enter into any contract or other arrangement that is determined to be necessary or appropriate to place the obligation or investment of the Commonwealth, as represented by bonds, BANs or investments, in whole or in part, on the interest rate, cash flow or other basis desired by the Commonwealth.  Such contract or other arrangement may include without limitation, contracts commonly known as interest rate swap agreements, and futures or contracts providing for payments based on levels of, or changes in, interest rates.  These contracts or arrangements may be entered into by the Commonwealth in connection with, or incidental to, entering into, or maintaining any (i) agreement which secures bonds or BANs or (ii) investment, or contract providing for investment, otherwise authorized by law.  These contracts and arrangements may contain such payment, security, default, remedy, and other terms and conditions as determined by the Commonwealth, after giving due consideration to the creditworthiness of the counterparty or other obligated party, including any rating by any nationally recognized rating agency, and any other criteria as may be appropriate. The determinations referred to in this paragraph may be made by the Treasury Board or any public funds manager with professional investment capabilities duly authorized by the Treasury Board to make such determinations.

C.  Any money set aside and pledged to secure payments of bonds, BANs or any of the contracts entered into pursuant to this section may be invested in accordance with paragraph A. of this section and may be pledged to and used to service any of the contracts or other arrangements entered into pursuant to paragraph B. of this section.

§ 8.  Security for bonds and BANs.

The full faith and credit of the Commonwealth are hereby irrevocably pledged for the payment of the principal of and the interest on bonds and (unless the Treasury Board, by and with the consent of the Governor, shall provide otherwise) BANs issued under the Commonwealth of Virginia Educational Facilities Bond Act of 2008.  The proceeds of (i) bonds the issuance of which has been anticipated by BANs, (ii) refunding bonds and (iii) refunding BANs are hereby irrevocably pledged for the payment of principal of and interest and any premium on such bonds or BANs to be refunded thereby.  In addition, the Treasury Board may pledge the full faith and credit of the Commonwealth for the payment of the principal of and interest on any BANs.  If sufficient funds are not appropriated in the general appropriations act for any fiscal year for the timely payment of the principal of and the interest on the bonds, any refunding bonds or any BANs where the full faith and credit of the Commonwealth has been pledged, there shall be set apart by direction of the Governor, from the first general fund revenues received during such fiscal year and thereafter, a sum sufficient to pay such principal and interest.

§ 9.  Expenses.

All expenses incurred under the Commonwealth of Virginia Educational Facilities Bond Act of 2008 shall be paid from the proceeds of the bonds or any refunding bonds or and BANs or from any other available funds as the Treasury Board shall determine.

§ 10.  Exemption of interest from tax.

The bonds and BANs issued under the provisions of the Commonwealth of Virginia Educational Facilities Bond Act of 2008, their transfer, and the income therefrom, including any profit made on the sale thereof, shall at all times be exempt from taxation by the Commonwealth and by any political subdivision thereof.  The interest on the bonds and any refunding bonds or BANs may be subject to inclusion in gross income of the holders thereof for federal income tax purposes.

§ 11.  Referendum.

The question of the effectiveness of the Commonwealth of Virginia Educational Facilities Bond Act and the authorization of the bonds shall be submitted to the qualified voters of the Commonwealth at the general election to be held on Tuesday, November 4, 2008.  The referendum shall be supervised and held, notice thereof given, ballots prepared, returns made and certified, votes canvassed and results ascertained and made known, as provided by law. The ballots to be used at the election shall pose the question in substantially the following form:

QUESTION:  Shall the second enactment clause of Chapter ___, Acts of the General Assembly of 2008, authorizing the issuance of general obligation bonds of the Commonwealth of Virginia in the maximum amount of $1,525,492,000 pursuant to Article X, Section 9(b) of the Constitution of Virginia for capital projects for educational facilities, take effect?

The State Board of Elections shall cause to be sent to the electoral boards of each county and city sufficient copies of the full text of the second enactment clause of this act and the question contained herein for the officers of election to post in each polling place on election day.  The State Board of Elections shall without delay make out and transmit to the Governor and to the Treasury Board an official certified copy of the report of the whole number of votes cast at the election for and against the Commonwealth of Virginia Educational Facilities Bond Act of 2008. 

If a majority of those voting thereon shall vote in favor of the Commonwealth of Virginia Educational Facilities Bond Act of 2008, the second enactment clause of this act shall take effect and the bonds may be issued as hereinabove provided.  If a majority of those voting thereon shall vote against the Commonwealth of Virginia Educational Facilities Bond Act of 2008, the second enactment clause of this act shall not take effect and the bonds shall not be issued.

The expenses incurred in conducting this election shall be defrayed as in the case of election of members of the General Assembly.

§ 12.  Severability.

The provisions of the Commonwealth of Virginia Educational Facilities Bond Act of 2008 or the application thereof to any person or circumstance which are held invalid shall not affect the validity of other provisions or applications of the Commonwealth of Virginia Educational Facilities Bond Act of 2008 which can be given effect without the invalid provisions or applications.

3.  § 1. That pursuant to § 23-30.28 of the Code of Virginia, the General Assembly hereby authorizes the Virginia College Building Authority to undertake the following projects including, without limitation, constructing, improving, furnishing, maintaining, acquiring, and renovating buildings, facilities, improvements, and land therefor; to exercise any and all powers granted to it by law in connection therewith, including the power to lease such projects to institutions of higher education of the Commonwealth; and to finance all or any portion of the cost thereof by the issuance of revenue bonds in a principal amount not to exceed $187,928,000 plus amounts needed to fund issuance costs, reserve funds, original issue discount, interest prior to and during acquisition, construction, or renovation and for one year after completion thereof, and other financing expenses.

The Authority may pay all or any part of the cost of any project hereinafter listed or authorized or any portion thereof with any income and reserve funds of the Authority available for such purpose, and in such case may transfer such funds of the Authority, with the approval of the Governor.

 
Agency                      Project Description                Amount
The College of William      Construct Integrated Science
 and Mary                    Center (Equipment)          $  4,725,000
The College of William      Construct a new school of
 and Mary                    education                   $ 38,085,000
University of Virginia      Construct Medical Research
                             Building (MR-6)             $    765,000
Virginia Polytechnic
 Institute and State
 University                 Renovate Henderson Hall      $  3,458,000
Virginia Military
 Institute                  Renovate Kilborne Hall       $    485,000
Virginia Military
 Institute                  Renovate Mallory Hall        $    760,000
Norfolk State University    Construct a new library      $ 45,139,000
University of Mary
 Washington                 Renovate Monroe Hall         $  1,500,000
University of Mary
 Washington                 Renovate Lee Hall            $    750,000
University of Mary          Renovate four academic
 Washington                  buildings                   $  1,000,000
James Madison University    Construct Center for the
                             Arts                        $    676,000
James Madison University    Acquire Rockingham
                             Memorial Hall               $  8,600,000
Radford University          Renovate Davis Hall          $    149,000
Radford University          Renovate Young Hall          $    284,000
Radford University          Construct New College of
                             Business and Economics
                             Building                    $ 34,702,000
George Mason University     Construct Academic VI and
                             Research II                 $  5,500,000
George Mason University     Construct Academic V         $  4,500,000
Virginia Community College  Construct Phase I, Regional
 System                      Health Professions Center,
                             Tidewater                   $  8,200,000
Virginia Community College  Construct Tri-Cities Higher
 System                      Education Center, Portsmouth
                             Campus, Tidewater           $    900,000
Virginia Community College  Construct Phase III Building,
 System                      Loudoun Campus, Northern
                             Virginia                    $  8,600,000
Virginia Community College  Construct Academic Building
 System                      Phase III, Manassas Campus,
                             Northern Virginia           $  6,059,000
Virginia Community College  Construct Historic Triangle
 System                      Campus                      $  5,640,000
Virginia Community College  Construct Phase II,
 System                      Midlothian Campus, John
                             Tyler                       $  2,800,000
Virginia Community College  Construct Phase VI, Academic
 System                      Building, Annandale Campus,
                             Northern Virginia           $  6,100,000
Virginia Community College  Renovate Hobbs Campus, Paul
 System                      D. Camp                     $    210,000
Virginia Community College  Renovate Science Building,
 System                      Annandale Campus, Northern
                             Virginia                    $    700,000
Virginia Commonwealth       Construct Medical Science
 University                  Building, Phase II          $  3,700,000
Grand Total                                              $187,928,000

4.  § 1. That pursuant to §§ 2.2-2261, 2.2-2263 and 2.2-2264 of the Code of Virginia, the General Assembly hereby authorizes the Virginia Public Building Authority to finance, without limitation, the acquisition, construction, renovation, improvement, furnishing, and equipping of the following projects:

Agency                       Project Description                Amount
Department of General        Provide supplemental funding
 Services                     to renovate the Capitol     $  5,500,000
Department of General        Replace Department of Taxation
 Services                     Central Office              $ 85,000,000
Department of General        Construct Eighth and Ninth
 Services                     Street Building             $185,100,000
Department of Agriculture    Construct Eastern Shore 
 and Consumer Services        Marketing and Inspection
                              Office                      $  1,115,000
Department of Agriculture    Construct Eastern Shore
 and Consumer Services        Seafood Facility            $  5,463,000
The Science Museum of        Restore interior stucco
 Virginia                                                 $  1,100,000
Virginia Museum of Fine      Renovate carpenter shop
 Arts                                                     $  1,695,000
Virginia Museum of Fine      Replace boilers
 Arts                                                     $    975,000
Virginia Museum of Fine      Replace chillers
 Arts                                                     $  1,080,000
Woodrow Wilson               Renovate Harold E. Watson
 Rehabilitation Center        Kitchen & Dining Hall
                              Building                    $  7,946,000
Department For the Blind     Renovate administrative and
 and Vision Impaired          activities building         $  7,214,000
Department of Mental Health, Renovate Central Virginia
 Mental Retardation and       Training Center
 Substance Abuse Services                                 $ 22,000,000
Department of Mental Health, Repair and replace cottages
 Mental Retardation and       at Southeastern Virginia
 Substance Abuse Services     Training Center             $  9,000,000
Department of Mental Health, Address life safety issues
 Mental Retardation and       at state mental health and
 Substance Abuse Services     mental retardation 
                              facilities                  $ 24,000,000
Department of Conservation   Repair various state park
 and Recreation               and soil and water
                              conservation district dams  $ 20,000,000
Department of Conservation   Construct phase one
 and Recreation               development, High Bridge
                              State Park                  $  4,500,000
Department of Conservation   Construct phase one
 and Recreation               development, Powhatan State
                              Park                       $  3,000,000
Department of Conservation   Preservation of open space
 and Recreation               and historic resources
                              through conservation        $ 50,000,000
Department of Juvenile       Connect cottages to
 Justice                      emergency generators        $    670,000
Department of Juvenile       Convert facilities to
 Justice                      propane                     $    525,000
Department of Juvenile       Provide new school heating
 Justice                      and coooling plant at
                              Hanover Juvenile Correctional
                              Center                      $    500,000
Department of Juvenile       Upgrade mechanical, electrical
 Justice                      and plumbing systems for
                              Reception and Diagnostic
                              Center cottages             $    700,000
Department of Juvenile       Replace natural gas, water,
 Justice                      and sewage lines            $  2,200,000
Department of Juvenile       Upgrade fire alarm and
 Justice                      protection systems          $    700,000
Department of Juvenile       Remove abandoned underground
 Justice                      fuel tanks                  $    250,000
Department of Juvenile       Construct dry-storage
 Justice                      warehouse at Culpeper
                              Juvenile Correctional
                              Center                      $    880,000
Department of Juvenile       Replace classroom trailers
 Justice                      at Beaumont                 $    450,000
Department of Juenile        Replace housing units at
 Justice                      Natural Bridge              $  1,691,000
Department of Corrections    Construct milk processing
                              center and new dairy barn
                              at Powhatan                 $  7,178,000
Department of Corrections    Construct access road for
                              Mt. Rogers prison           $  4,000,000
Department of Corrections    Upgrade electrical system
                              at Powhatan                 $  2,000,000
Department of Corrections    Replace fire alarm systems
                              and exits                   $    890,000
Department of Corrections    Upgrade Powhatan wastewater
                              treatment plant             $  3,812,000
Department of Corrections    Upgrade St. Brides water
                              treatment plant             $  3,353,000
Department of Corrections    Replace modular housing
                              units at Marion             $  4,401,000
Department of Corrections    Replace door and locking
                              systems                     $  2,500,000
Department of Corrections    Replace prison door control
                              panels                      $  2,500,000
Department of Corrections    Install auger grinders       $    800,000
Department of Corrections    Construct new kitchen and
                              dining hall at Halifax      $  4,061,000
Department of Corrections    Replace sally port at
                              Southampton                 $  1,613,000
Department of Corrections    Replace plumbing and heating
                              systems in field units      $  2,500,000
Department of Corrections    Upgrade electrical systems
                              in field units              $    600,000
Department of Corrections    Replace windows              $  2,000,000
Department of Corrections    Renovate bathrooms and
                              provide handicapped access
                              at Chesterfield             $    500,000
Department of Corrections    Install railings and mesh
                              at Greensville              $    622,000
Department of Corrections    Expand sally port building
                              at Deerfield                $    238,000
Department of Corrections    Install elevated water tank
                              at Greensville              $  2,771,000
Department of Forensic       Expand Eastern Virginia
 Science                      Forensic Lab                $  3,827,000
Grand Total                                               $493,420,000

§ 2. The Virginia Public Building Authority is authorized to exercise any and all powers granted to it by law in connection with the foregoing, including the power to finance the cost of the above projects by the issuance of revenue bonds from time to time in a principal amount not to exceed $493,420,000 plus amounts needed to fund issuance costs, reserve funds, original issue discount, other financing expenses, and interest prior to or during acquisition, construction, renovation, improvement, furnishing or equipping for up to one year after completion of each such project.

§ 3. The general conditions and general provisions of the general appropriation act enacted pursuant to Chapter 15 (§ 2.2-1500 et seq.) of Title 2.2 of the Code of Virginia, in effect from time to time, and all of the terms and conditions contained therein shall apply to the capital projects listed in this act.

5.  The State Treasurer is authorized to advance a treasury loan for the following projects:

Agency                       Project Description                Amount
Jamestown/Yorktown
 Foundation                  Planning                       $1,500,000