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1997 SESSION

975799208
HOUSE BILL NO. 2262
AMENDMENT IN THE NATURE OF A SUBSTITUTE
(Proposed by the Joint Conference Committee
on February 21, 1997)
(Patron Prior to Substitute--Delegate Clement)
A BILL to prohibit the Virginia Public Building Authority from undertaking the acquisition, construction, improvement, furnishing, maintenance or exercising any of its powers to lease or finance certain projects; to prohibit the financing of the costs of certain projects by the Virginia Public Building Authority in excess of certain amounts; to prohibit the issuance of bonds subject to the provisions of Section 9 (c) of Article X of the Constitution of Virginia for certain projects; and to provide for certain projects to be undertaken by the Virginia Public Building Authority, all relating to the financing of certain projects by the Commonwealth.

Be it enacted by the General Assembly of Virginia:

1. § 1. That notwithstanding the provisions of Chapter 546 of the 1983 Acts of Assembly, the Virginia Public Building Authority shall not undertake to acquire, construct, improve, furnish, maintain and operate, or exercise any powers, including its powers to lease to the Commonwealth or to finance, the projects known as (i) the Old City Hall Building in the City of Richmond for which financing in the amount of $2,964,524 was authorized by such act and (ii) the Department of Computer Services Building in the City of Richmond for which financing in the amount of $16,350,000 was authorized by such act. In addition, notwithstanding the provisions of such act, the Virginia Public Building Authority shall not exercise any of its powers to finance the cost, except for amounts needed to fund bond issuance costs, reserve funds, and other financing expenses, of the projects known as (i) the General Assembly Building in the City of Richmond in amounts exceeding $10,525,920; (ii) the General Assembly Building Renovation in the City of Richmond in amounts exceeding $6,809,193; (iii) the James Madison Building in the City of Richmond in amounts exceeding $1,539,619; (iv) the Supreme Court of Virginia Building in the City of Richmond in amounts exceeding $3,527,915; (v) the Broad Street Station and Property in the City of Richmond in amounts exceeding $3,928,488; (vi) the Consolidated Laboratory Services Building in the City of Richmond in amounts exceeding $2,385,675; (vii) the State Library Building Addition in the City of Richmond in amounts exceeding $959,163; (viii) the James Monroe Building, Phase I, in the City of Richmond in amounts exceeding $7,318,425; (ix) the James Monroe Building, Phase II, in the City of Richmond in amounts exceeding $36,657,826; (x) the Department of Motor Vehicles Building in the City of Richmond in amounts exceeding $16,416,555; and (xi) the James Monroe Building, Completion of Phase II, in the City of Richmond in amounts exceeding $4,000,000.

§ 2. That notwithstanding the provisions of the second enactment of Chapter 731 and the second enactment of Chapter 761 of the 1988 Acts of Assembly, the Virginia Public Building Authority shall not exercise any of its powers to finance the cost of the project consisting of the construction and furnishing of an office building in the City of Richmond on the block bounded by Thirteenth, Fourteenth, Main and Franklin Streets for the State Corporation Commission by the issuance of revenue bonds in a principal amount exceeding $17,695,381, plus amounts needed to fund issuance costs, reserve funds and other financing expenses.

§ 3. That notwithstanding the provisions of the ninth enactment of Chapter 841 of the 1995 Acts of Assembly, the Virginia Public Building Authority shall not undertake to construct, improve, or furnish, or acquire appurtenant land, or exercise any powers, including its powers to lease to the Commonwealth or to finance the cost thereof by the issuance of revenue bonds with respect to, the two adult detention incarceration centers for which financing in the amount of $6,000,000 was authorized by such act.

§ 4. That notwithstanding the provisions of § 2 of Chapter 845 of the 1996 Acts of Assembly, the Treasury Board shall not sell or issue bonds of the Commonwealth subject to the provisions of Section 9 (c) of Article X of the Constitution of Virginia for the purpose of providing funds for paying all or a portion of the costs of the following capital projects: (i) Student housing at Clinch Valley College, designated therein as project number 15473, for which financing in the amount of $2,000,000 was authorized by such act, and (ii) Residence Hall V at George Mason University, designated therein as project number 14536, for which financing in the amount of $17,500,000 was authorized by such act.

§ 5. That notwithstanding the provisions of the fourth enactment of Chapter 656 of the 1991 Acts of Assembly, the Virginia Public Building Authority shall not exercise any of its powers to finance the cost of the project consisting of the acquisition of land, incidental design and preparation for the construction of a correctional facility or facilities by the issuance of revenue bonds in a principal amount exceeding $822,000, plus amounts needed to fund issuance costs, reserve funds and other financing expenses.

§ 6. That pursuant to § 2.1-234.13 of the Code of Virginia, the General Assembly hereby authorizes the Virginia Public 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 the Commonwealth. The Authority may pay all or any part of the cost of any project hereinafter listed or previously 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 or without a property interest in such projects, as determined by the Authority, with the approval of the Governor.

     Facility                                           Project Cost

Virginia Community College System:
  Roof, Major Mechanical and HVAC
  Renovations                                             $1,500,000
Virginia Tech:
  Supplement to Advanced Communications
  and Technology Center                                   $2,500,000
George Mason University:
  Supplement to Prince William
  Institute, Phase I                                        $500,000
Norfolk State University:
  Acquisition of 25 acres,
  South Brambleton Area                                     $415,000
Longwood College:
  Renovation and expansion of
  Small Business Development Center                         $100,000