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2000 SESSION

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HB 1118 Y2K Highway Projects Transportation Revenue Bond Act of 2000.

Introduced by: Roger J. McClure | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Y2K Highway Project Commonwealth of Virginia Transportation Revenue Bond Act of 2000. Authorizes the issuance of Y2K Highway Project Commonwealth of Virginia Transportation Revenue Bonds pursuant to the provisions of 33.1-267 through 33.1-295 and Article X, Section 9 (d) of the Virginia Constitution in an amount not exceeding $3,472,300,000. The purpose of the bonds is to provide funds for paying, together with any other available funds, the cost of certain highway projects throughout the Commonwealth. The bill authorizes the Transportation Board to issue the bonds to be sold through the Treasury Board, either at public or private sale. The bonds are not backed by the full faith and credit of the Commonwealth.


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