Central Capital Outlay (949)

A.1. The capital projects in paragraph B of this Item are hereby authorized and may be financed in whole or in part through bonds of the Virginia College Building Authority pursuant to §23-30.24 et seq., Code of Virginia or the Virginia Public Building Authority pursuant to §2.2-2263, Code of Virginia. Bonds of the Virginia College Building Authority 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 aggregate principle amounts will not exceed the amounts listed in paragraph B below plus amounts to fund related issuance costs, and other financing expenses, in accordance with Section 2.2-2263 of the Code of Virginia.

2. From the list of projects included in paragraph B of this Item, the Director of the Department of Planning and Budget shall provide the Chairmen of the Virginia College Building Authority and the Virginia Public Building Authority with the specific projects, as well as the amounts for these projects, to be financed by each authority within the dollar limit established by this authorization.

3. Debt service on the projects contained in this Item shall be provided from appropriations to the Treasury Board.

4. The appropriations for said capital projects in this Item are subject to the conditions in § 2-0 F of this act. 

B. There is hereby appropriated $31,500,000 the first year from bond proceeds of the Virginia College Building Authority or the Virginia Public Building Authority to provide funds for equipment for the following projects for which construction was previously provided, or to maintain existing operational capability.