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2000 SESSION

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HB 33 Federal Highway Reimbursement Anticipation Notes; issuance.

Introduced by: Vincent F. Callahan, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Commonwealth of Virginia Federal Highway Reimbursement Anticipation Notes. Authorizes the Commonwealth Transportation Board, by and with the consent of the Governor, to issue Commonwealth of Virginia Federal Highway Reimbursement Anticipation Notes pursuant to the provisions of Article 5 (§ 33.1-267 et seq.) of Chapter 3 of Title 3.1 of the Code of Virginia and as permitted by Section 9(d), Article X of the Constitution of Virginia, provided that the principal amount outstanding at any time shall not exceed $590,000,000. The purpose of the notes is to provide funds, with any other available funds, for paying all or a portion of the costs for accelerated construction of projects included in the Commonwealth Transportation Board's Six-Year Improvement Program. The bill amends several provisions in Article 5 (§ 33.1-267 et seq.) of Chapter 3 of Title 33.1 to accommodate issuance of the notes.


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