Source: https://budget.lis.virginia.gov/item/2012/2/HB1300/Chapter/2/0/
Timestamp: 2019-07-22 03:17:36
Document Index: 79738583

Matched Legal Cases: ['§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2']

General Conditions HB1300 - Chapter 2
1. The General Assembly hereby authorizes the capital projects listed in §§ 2-26, and 2-27, and 2-28 for the indicated agencies and institutions of higher education and hereby appropriates and reappropriates therefore sums from the sources and in the amount indicated. The issuance of bonds in a principal amount plus amounts needed to fund issuance costs, reserve funds, and other financing expenses, including capitalized interest for any project listed in §§ 2-26, and 2-27, and 2-28 is hereby authorized.
2. The issuance of bonds for any project listed in § 2-267 is to be separately authorized pursuant to Article X, Section 9 (c), Constitution of Virginia.
4. In the event that the cost of any capital project listed in §§ 2-26, and 2-27, and 2-28 shall exceed the amount appropriated therefore, the Director, Department of Planning and Budget, is hereby authorized, upon request of the affected institution, to approve an increase in appropriation authority of not more than ten percent of the amount designated in §§ 2-26, and 2-27, and 2-28 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, 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 in §§ 2-26, and 2-27, and 2-28 for such capital project.
7. In the event that the Treasury Board determines not to finance all or any portion of any project listed in Item C-88 of § 2-267 of this act with the issuance of bonds pursuant to Article X, Section 9 (c), Constitution of Virginia, and notwithstanding any provision of law to the contrary, this act shall constitute the approval of the General Assembly to finance all or such portion of any such project listed in Item C-89 under the authorization of § 2-278 of this act.
Q. On or before June 30, 2012, the State Comptroller shall revert the following amounts from the agency, fund code, and project code listed.
R. From the amounts reverted from the Longwood University capital project 17317, Construct Addition and Renovate Bedford Hall, $3,000,000 is reauthorized to James Madison University capital project 17672, Boiler Replacement and Infrastructure, Phase 1, to cover project cost overruns.
S. All Agencies of the Commonwealth and Institutions of Higher Education shall provide information and/or use systems and processes in the method and format as directed by the Director, Department of General Services, on behalf of the Six-Year Capital Outlay Plan Advisory Committee, to provide necessary information for state-wide reporting. This requirement shall apply to all projects, including those funded from general and nongeneral fund sources.
T. The Director, Department of General Services, and the Director, Department of Planning and Budget shall report to the Chairmen of the House Appropriations and Senate Finance Committees by March 1, 2012, on the impact of increasing capital outlay project thresholds from $1,000,000 to $2,000,000 and energy-efficiency projects thresholds from $3,000,000 to $7,000,000 as provided in Item 4-4.01 of this act.
U. The authorization provided under Chapter 1, 2008 Acts of Assembly, Special Session 1, for bond funding from the Virginia Public Building Authority for the Woodrow Wilson Rehabilitation Center capital project 16969, Renovate Harold E. Watson Kitchen and Dining Hall, is rescinded.