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_ 600 Item Details($) Appropriations($) ITEM 448. First Year Second Year First Year Second Year FY2025 FY2026 FY2025 FY2026 Nongeneral Fund Positions 25.00 25.00 Position Level 25.00 25.00 Fund Sources: Special $3,586,052 $3,590,258 § 1-128. VIRGINIA PORT AUTHORITY (407) 449. Economic Development Services (53400) $16,580,786 $17,330,786 National and International Trade Services (53413) $14,330,786 $14,330,786 Commerce Advertising (53426) $2,250,000 $3,000,000 Fund Sources: General $750,000 $1,500,000 Special $7,830,786 $7,830,786 Commonwealth Transportation $8,000,000 $8,000,000 Authority: Title 62.1, Chapter 10, Code of Virginia. A. Out of this appropriation, $500,000 the first year and $1,000,000 the second year from the general fund shall be deposited to the Virginia Port Volume Increase Grant Fund and awarded under the Virginia Port Volume Increase Grant Program in accordance with the provisions of § 62.1-132.3:5, Code of Virginia. B. Out of this appropriation, $250,000 the first year and $500,000 the second year from the general fund shall be deposited to the Virginia Barge and Rail Usage Grant Fund and awarded under the Virginia Barge and Rail Usage Grant Program in accordance with the provisions of § 62.1-132.3:6, Code of Virginia. 450. Port Facilities Planning, Maintenance, Acquisition, and Construction (62600) $98,666,555 $98,666,555 $398,666,555 Maintenance and Operations of Ports and Facilities (62601) $34,968,889 $34,968,889 Port Facilities Planning (62606) $1,280,247 $1,280,247 Debt Service for Port Facilities (62607) $62,417,419 $62,417,419 $362,417,419 Fund Sources: Special $41,280,247 $41,280,247 $341,280,247 Commonwealth Transportation $52,386,308 $52,386,308 Federal Trust $5,000,000 $5,000,000 Authority: Title 62.1, Chapter 10; Title 33.2, Chapter 1, Code of Virginia. A.1. It is hereby acknowledged that, in accordance with § 62.1-140, Code of Virginia, the Virginia Port Authority issued Commonwealth Port Fund bonds on January 25, 2012 in the amount of $108,015,000 to refund Commonwealth Port Fund bonds originally issued on July 11, 2002. Debt service on bonds referenced in this paragraph is estimated to be $9,100,000 the first year and $9,100,000 the second year, and all or a portion of such bonds may be refunded by the Authority pursuant to § 62.1-140, Code of Virginia. 2. It is hereby acknowledged that, in accordance with § 62.1-140, Code of Virginia, the Virginia Port Authority issued Commonwealth Port Fund Revenue Refunding Bonds on August 4, 2020 in the amount of $97,615,000 to refund Commonwealth Port Fund bonds originally issued in September 2012 and June 2015. Debt service on bonds referenced in this paragraph is estimated to be $6,200,000 the first year and $6,200,000 the second year, and all or a portion of such bonds may be refunded by the Authority pursuant to § 62.1-140, Code of Virginia. 3. It is hereby acknowledged that, in accordance with § 62.1-140, Code of Virginia, the Virginia Port Authority issued Commonwealth Port Fund Revenue Refunding Bonds on April 26, 2023, in the amount of $148,520,000 to finance improvements to Norfolk International Terminals. Debt service on bonds referenced in this paragraph is estimated to be $7,700,000 the first year and $7,700,000 the second year, and all or a portion of such bonds may be refunded by the Authority pursuant to § 62.1-140, Code of Virginia.