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1997 SESSION

970833208
HOUSE BILL NO. 2262
Offered January 17, 1997
A BILL to amend and reenact § 1 of Chapter 546 of the 1983 Acts of Assembly; the second enactments of Chapter 731 and Chapter 761 of the 1988 Acts of Assembly; and § 2 of Chapter 507 and § 2 of Chapter 515 of the 1993 Acts of Assembly and to repeal Item R-25.2 of the first enactments of Chapter 452 and Chapter 477 of the 1989 Acts of Assembly, Item R-25 of § 1 of Chapter 806 of the 1990 Acts of Assembly, and the fourth enactment of Chapter 656 of the 1991 Acts of Assembly, all relating to bond authorizations previously approved by the General Assembly for certain projects.
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Patrons-- Clement, Abbitt, Almand, Armstrong, Behm, Bennett, Bloxom, Callahan, Christian, Cranwell, Croshaw, Davies, DeBoer, Deeds, Diamonstein, Dickinson, Dillard, Grayson, Guest, Hall, Heilig, Jackson, Murphy, Plum, Puller, Putney, Robinson, Shuler, Tate, Thomas and Woodrum; Senators: Hawkins and Holland
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Referred to Committee on Appropriations
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Be it enacted by the General Assembly of Virginia:

1. That § 1 of Chapter 546 of the 1983 Acts of Assembly is amended and reenacted as follows:

§ 1. That pursuant to § 2.1-234.13 of the Code of Virginia, the General Assembly hereby approves any undertaking by the Virginia Public Building Authority to acquire, construct, improve, furnish, maintain and operate any or all of the projects listed below, and to exercise any and all powers granted to it by law in connection therewith, including its powers to lease such projects to the Commonwealth and to finance any such undertaking, but in amounts not to exceed the amount specified below for each project, except for amounts needed to fund bond issuance costs, reserve funds and other financing expenses and except as otherwise provided in § 2 herein:

            Project                                Amount
General Assembly Building
Richmond, Virginia                               $10,891,63910,525,920
General Assembly Building Renovation
Richmond, Virginia                                $6,957,673 6,809,193
James Madison Building
Richmond, Virginia                                $1,828,298 1,539,619
Supreme Court of Virginia Building
Richmond, Virginia                                $3,611,775 3,527,915
Broad Street Station and Property
Richmond, Virginia                                $4,064,234 3,928,488
Consolidated Laboratory Services Building
Richmond, Virginia                                $2,650,750 2,385,675
State Library Building Addition
Richmond, Virginia                                $1,046,360   959,163
Old City Hall Building
Richmond, Virginia                                $2,964,524
James Monroe Building, Phase I
Richmond, Virginia                                $7,492,387 7,318,425
James Monroe Building, Phase II
Richmond, Virginia                               $37,097,62136,657,826
Department of Motor Vehicles Building
Richmond, Virginia                               $16,681,91516,416,555
Department of Computer Services Building
Richmond, Virginia                               $16,350,000
James Monroe Building, Completion of Phase II
Richmond, Virginia                                $5,000,000 4,000,000

2. That the second enactments of Chapters 731 and 761 of the 1988 Acts of Assembly are amended and reenacted as follows:

2. 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 construction and furnishing of an office building to be located in the City of Richmond on the block bounded by Thirteenth, Fourteenth, Main and Franklin Streets for the State Corporation Commission in an amount not to exceed $23,000,00017,695,381, and 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 in a principal amount not to exceed $23,000,00017,695,381, plus amounts needed to fund issuance costs, reserve funds and other financing expenses.

2. 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 construction and furnishing of an office building to be located in the City of Richmond on the block bounded by Thirteenth, Fourteenth, Main and Franklin Streets for the State Corporation Commission in an amount not to exceed $23,000,00017,695,381, and 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 in a principal amount not to exceed $23,000,00017,695,381 plus amounts needed to fund issuance costs, reserve funds and other financing expenses.

3. That § 2 of Chapter 507 and § 2 of Chapter 515 of the 1993 Acts of Assembly are amended and reenacted as follows:

§ 2. The Treasury Board is hereby authorized, by and with the consent of the Governor, to sell and issue, subject to the provisions of Section 9 (c) of Article X of the Constitution of Virginia, at one time or from time to time, bonds of the Commonwealth, to be designated "Commonwealth of Virginia Higher Educational Institutions Bonds, Series ......" in an aggregate principal amount not exceeding $118,575,000116,575,000, plus amounts needed to fund issuance costs, reserve funds and other financing expenses. The proceeds of such bonds, excluding amounts needed to fund issuance costs, reserve funds and other financing expenses, shall be used exclusively for the purpose of providing funds, with any other available funds, for paying the costs of acquiring, constructing, renovating, enlarging, improving and equipping revenue-producing capital projects at institutions of higher learning of the Commonwealth as follows:


                     Project                        Project
Institution          Number             Debt          Name
University of                                    Central Grounds
  Virginia           14638      $    182,600       Parking Faciltiy
University of                                    Newcomb Hall
  Virginia           15400      $ 11,997,000       Expansion
University of                                    Student Residence
  Virginia           15472      $  6,000,000       Facility
Clinch Valley                                    Student Residence
  College            15473      $  2,000,000      Facility
Virginia Polytechnic                             Major Repairs -
  Institute          14303      $  1,078,900       Dorm/Dining System
Virginia Polytechnic
  Institute          14816      $    169,000     Residence Hall
Virginia Polytechnic                             Parking Auxiliary
  Institute          14815      $  7,484,300       Projects
Virginia Commonwealth                            Parking Deck - MCV
  University         14777      $  1,464,900       Campus
Virginia Commonwealth                            VCU/MCV Visitors'
  University         15160      $  2,838,300       Parking Deck
George Mason
  University         14536      $ 17,500,000     Residence Hall V
George Mason
  University         14657      $    684,000     Parking Structure
George Mason
  University         14653      $ 17,680,900     Residence Hall VI
George Mason                                     Telecommunications
  University         15037      $  3,825,000       System
George Mason                                     University Center
  University         14647      $ 25,629,500       and Library
College of William
  and Mary           14417      $    614,100     Graduate Dormitory
College of William                               Dormitory
  and Mary           14416      $    834,500       Renovation
College of William                               University
  and Mary           14735      $  1,225,400       Center
James Madison                                    Student Residence
  University         14405      $  5,256,000       Facility
James Madison                                    Dining Facility
  University         15361      $  2,393,100       Renovations
James Madison                                    Primary Electrical
  University         14614      $  1,296,800       Upgrade
Mary Washington                                  Telecommunications
  College            15360      $  4,298,800       Network
Mary Washington                                  Parking Lots and
  College            15415      $  1,350,000       Athletic Fields
Christopher Newport                              Dormitory/Dining
  University         14725      $  2,771,900       Project
TOTAL                           $118,575,000116,575,000

§ 2. The Treasury Board is hereby authorized, by and with the consent of the Governor, to sell and issue, subject to the provisions of Section 9 (c) of Article X of the Constitution of Virginia, at one time or from time to time, bonds of the Commonwealth, to be designated "Commonwealth of Virginia Higher Educational Institutions Bond, Series ......" in an aggregate principal amount not exceeding $118,575,000116,575,000, plus amounts needed to fund issuance costs, reserve funds and other financing expenses. The proceeds of such bonds, excluding amounts needed to fund issuance costs, reserve funds and other financing expenses, shall be used exclusively for the purpose of providing funds, with any other available funds, for paying the costs of acquiring, constructing, renovating, enlarging, improving and equipping revenue-producing capital projects at institutions of higher learning of the Commonwealth as follows:


                     Project                        Project
Institution          Number             Debt          Name
University of                                    Central Grounds
  Virginia           14638      $    182,600       Parking Faciltiy
University of                                    Newcomb Hall
  Virginia           15400      $ 11,997,000       Expansion
University of                                    Student Residence
  Virginia           15472      $  6,000,000       Facility
Clinch Valley                                    Student Residence
  College            15473      $  2,000,000      Facility
Virginia Polytechnic                             Major Repairs -
  Institute          14303      $  1,078,900       Dorm/Dining System
Virginia Polytechnic
  Institute          14816      $    169,000     Residence Hall
Virginia Polytechnic                             Parking Auxiliary
  Institute          14815      $  7,484,300       Projects
Virginia Commonwealth                            Parking Deck - MCV
  University         14777      $  1,464,900       Campus
Virginia Commonwealth                            VCU/MCV Visitors'
  University         15160      $  2,838,300       Parking Deck
George Mason
  University         14536      $ 17,500,000     Residence Hall V
George Mason
  University         14657      $    684,000     Parking Structure
George Mason
  University         14653      $ 17,680,900     Residence Hall VI
George Mason                                     Telecommunications
  University         15037      $  3,825,000       System
George Mason                                     University Center
  University         14647      $ 25,629,500       and Library
College of William
  and Mary           14417      $    614,100     Graduate Dormitory
College of William                               Dormitory
  and Mary           14416      $    834,500       Renovation
College of William                               University
  and Mary           14735      $  1,225,400       Center
James Madison                                    Student Residence
  University         14405      $  5,256,000       Facility
James Madison                                    Dining Facility
  University         15361      $  2,393,100       Renovations
James Madison                                    Primary Electrical
  University         14614      $  1,296,800       Upgrade
Mary Washington                                  Telecommunications
  College            15360      $  4,298,800       Network
Mary Washington                                  Parking Lots and
  College            15415      $  1,350,000       Athletic Fields
Christopher Newport                              Dormitory/Dining
  University         14725      $  2,771,900       Project
TOTAL                           $118,575,000116,575,000

4. That Item R-25.2 of the first enactments of Chapter 452 and Chapter 477 of the 1989 Acts of Assembly, Item R-25 of § 1 of Chapter 806 of the 1990 Acts of Assembly, and the fourth enactment of Chapter 656 of the 1991 Acts of Assembly are repealed.