2013 Uncodified Acts

2013 Virginia Uncodified Acts
Bonds
8/8/2020

CHAPTER 322

An Act to amend and reenact § 2 of the first enactment of Chapters 207 and 604 of the Acts of Assembly of 2008 and § 2 of the first enactment of Chapters 490 and 556 of the Acts of Assembly of 2012, relating to modifications to prior revenue bond bills for institutions of higher education.

[S 754]

Approved March 13, 2013

 

Be it enacted by the General Assembly of Virginia:

1.  That § 2 of the first enactment of Chapter 207 of the Acts of Assembly of 2008 is amended and reenacted as follows:

§ 2. Authorization of bonds and BANs.

The Treasury Board is hereby authorized, by and with the consent of the Governor, to sell and issue, pursuant to Article X, Section 9(c), 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 $350,565,000, plus amounts needed to fund issuance costs, reserve funds, construction period interest and other financing expenses. The Treasury Board is further hereby authorized, by and with the consent of the Governor, to borrow money in anticipation of the issuance of bonds by the issuance of bond anticipation notes (BANs), including BANs issued as commercial paper. The proceeds of such bonds and BANs, 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 all or a portion of the costs of acquiring, constructing, renovating, enlarging, improving and equipping revenue-producing capital projects at institutions of higher learning of the Commonwealth as follows:


         Institution             Project Title        Project Code   Amount
  George Mason University       President's Park         17540
                                 Phase II Renovation              $15,633,000
  George Mason University       Smithsonian CRC          17572
                                 Housing                           17,804,000
  George Mason University       Housing VIII             17570    102,460,000
  Old Dominion University       Construct Residence      17342
                                 Hall, Phase II                    34,779,000
  Radford University            Construct Renovate       17565
                                 Residence Halls                   36,000,000
  The College of William        Renovate Graduate        17555
   and Mary In Virginia          Student Dormitories                2,500,000
  The College of William        Renovate Campus          17554
   and Mary In Virginia          Center and Trinkle Hall           35,000,000
  Virginia Polytechnic          Renovate Owens and       17558
   Institute and State           West End Market Food               5,000,000
   University                    Courts
  Virginia Polytechnic          Renovate Ambler          17557
   Institute and State           Johnson Hall                      55,000,000
   University
  Virginia Polytechnic          New Residence Hall       16682      8,047,000
   Institute and State
   University
  Virginia State University     Demolish Student         17531
                                 Village and Construct
                                 Gateway 500, Phase II             38,342,000
  Total                                                          $350,565,000

2.  That § 2 of the first enactment of Chapter 604 of the Acts of Assembly of 2008 is amended and reenacted as follows:

§ 2. Authorization of bonds and BANs.

The Treasury Board is hereby authorized, by and with the consent of the Governor, to sell and issue, pursuant to Article X, Section 9(c), 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 $350,565,000, plus amounts needed to fund issuance costs, reserve funds, construction period interest and other financing expenses. The Treasury Board is further hereby authorized, by and with the consent of the Governor, to borrow money in anticipation of the issuance of bonds by the issuance of bond anticipation notes (BANs), including BANs issued as commercial paper. The proceeds of such bonds and BANs, 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 all or a portion of the costs of acquiring, constructing, renovating, enlarging, improving, and equipping revenue-producing capital projects at institutions of higher learning of the Commonwealth as follows:


  Institution               Project Title       Project Code     Amount
  George Mason University   President's Park      17540
                             Phase II Renovation             15,633,000
  George Mason University   Smithsonian CRC -     17572
                             Housing                         17,804,000
  George Mason University   Housing VIII          17570     102,460,000
  Old Dominion University   Construct Residence   17342
                             Hall, Phase II                  34,779,000
  Radford University        Construct Renovate    17565
                             Residence Halls                 36,000,000
  The College of William    Renovate Graduate     17555
   and Mary In Virginia      Student Dormitories              2,500,000
  The College of William    Renovate Campus       17554
   and Mary In Virginia      Center and Trinkle Hall         35,000,000
  Virginia Polytechnic      Renovate Owens and    17558
   Institute and State       West End Market Food
   University                Courts                           5,000,000
  Virginia Polytechnic      Renovate Ambler       17557
   Institute and State       Johnson Hall
   University                                                55,000,000
  Virginia Polytechnic      New Residence Hall    16682
   Institute and State
   University                                                 8,047,000
  Virginia State University Demolish Student      17531
                             Village and Construct
                             Gateway 500, Phase II           38,342,000
  Total                                                    $350,565,000

3. That § 2 of the first enactment of Chapters 490 and 556 of the Acts of Assembly of 2012 are amended and reenacted as follows:

§ 2. Authorization of bonds and BANs.

The Treasury Board is hereby authorized, by and with the consent of the Governor, to sell and issue, pursuant to Article X, Section 9 (c) 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 $125,594,000 $135,244,000, plus amounts needed to fund issuance costs, reserve funds, construction period interest and other financing expenses. The Treasury Board is further hereby authorized, by and with the consent of the Governor, to borrow money in anticipation of the issuance of bonds by the issuance of bond anticipation notes (BANs), including BANs issued as commercial paper. The proceeds of such bonds and BANs, 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 all or a portion of the costs of acquiring, constructing, renovating, enlarging, improving and equipping revenue-producing capital projects at institutions of higher learning of the Commonwealth as follows:


  Institution                Project Title     Project Code   Amount
  George Mason University    Construct Student
                             Housing IX-A         17929     $41,071,000
  James Madison University   Student Housing
                             Phase I              17949     $50,000,000
  Old Dominion University    Renovate Student
                             Housing, Phase 2     17945     $23,113,000
  Radford University         Renovate Washing-
                             ton Hall             17948     $ 5,410,000
  The College of William     Renovate Dormitory
  and Mary in Virginia       Dormitories          17933     $ 5,000,000
                                                            $14,650,000
  The College of William     Construct New
  and Mary in Virginia       Dormitory            17808     $ 1,000,000
  Total                                                    $125,594,000
                                                           $135,244,000

4.  That an emergency exists and this act is in force from its passage.