Source: https://budget.lis.virginia.gov/item/2000/1/SB30/Introduced/2/0/
Timestamp: 2020-06-01 17:24:58
Document Index: 556215015

Matched Legal Cases: ['§ 4', 'art 1', '§ 2', '§ 2', '§ 2', '§ 23', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2']

2. No capital project for which appropriations for planning are contained in this act, nor any project for which appropriations for planning have been previously approved, shall be considered for construction funds until preliminary plans and cost estimates are reviewed by the Department of General Services for compliance with § 4-4.01 b.2. of the General Provisions. The purpose of this review is to avoid unnecessary expenditures for each project, in the interest of assuring the overall cost of the project is reasonable in relation to the purpose intended, regardless of discrete design choices.
E. Expenditures from Items in this act identified as "Maintenance Reserve" are to be made only for the maintenance of property, plant and equipment to the extent that funds included in the appropriation to the agency for this purpose in Part 1 of this act are insufficient. Such expenditures shall be subject to rules and regulations prescribed by the Governor. Only facilities supported wholly or in part by the general fund shall utilize general fund maintenance reserve appropriations. Facilities totally supported by nongeneral funds shall accomplish maintenance through the use of nongeneral funds.
1. The General Assembly hereby authorizes the capital projects listed in §§ 2-42 and 2-43 for the indicated institutions of higher education and hereby appropriates and reappropriates therefor 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 §§ 2-42 and 2-43 is hereby authorized.
2. The issuance of bonds for any project listed in § 2-42 is to be separately authorized pursuant to Article X, Section 9 (c), Constitution of Virginia.
3. The issuance of bonds for any project listed in Item C-203 or C-204 shall be authorized pursuant to § 23-19, Code of Virginia.
4. In the event that the cost of any capital project listed in §§ 2-42 and 2-43 shall exceed the amount appropriated therefor, 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 §§ 2-42 and 2-43 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 §§ 2-42 and 2-43 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-203 of § 2-42 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 project listed in Item C-204 under the authorization of § 2-43 of this act.
1. The appropriations unexpended at the close of the previous biennium in the appropriations and reappropriations in Items C-1 through C-5.10 made by Chapter 935, Acts of Assembly of 1999, and
2. The appropriations unexpended at the close of the previous biennium of any amount transferred from Items C-1 through C-5.10 to any capital project established by authority of the Governor which conforms to the conditions in paragraph B below.