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2015 SESSION

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SB 1455 Commonwealth of Virginia Veterans Bond Act of 2015; created.

Introduced by: John C. Watkins | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

Commonwealth of Virginia Veterans Bond Act of 2015. Authorizes the issuance of Commonwealth of Virginia General Obligation Bonds pursuant to Article X, Section 9 (b) of the Constitution of Virginia in an amount not exceeding $67 million, subject to approval by a majority of the qualified voters of the Commonwealth voting thereon at the November 3, 2015 general election. The purpose of the bonds is to provide funds for the Commonwealth's share of the costs for the construction of veterans care centers in Northern Virginia and Hampton Roads. The full faith and credit of the Commonwealth is pledged for the payment of the principal of and interest on the bonds and any bond anticipation notes or refunding bonds. The bill shall not become effective, and no bonds shall be issued, unless and until vote approval is obtained.


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