SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2000 SESSION

  • | print version

HB 1119 Suffolk Transportation Dist. Transportation Revenue Bond Act of 2000.

Introduced by: William P. Robinson, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Suffolk Transportation District Program; Suffolk Transportation District Commonwealth of Virginia Transportation Revenue Bond Act of 2000. Creates the Suffolk Transportation District Program similar to the Northern Virginia Transportation District Program, and authorizes a treasury loan of $19 million to be deposited into the fund created for the Program on July 15, 2001, in the event that appropriations in that amount are not included for the fund in the appropriation act. The bill also authorizes the issuance of Suffolk Transportation District 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 $100,000,000. The purpose of the bonds is to provide funds for paying, together with any other available funds, the cost of two highway projects within the Suffolk Transportation District. 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.


FULL TEXT

HISTORY