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1995 SESSION
HB 1292 Bonds for industrial development.
Introduced by: Harry J. Parrish | all patrons ... notes | add to my profiles
SUMMARY:
Bonds for industrial development. Amends the Virginia Industrial Development and Revenue Bond Act to permit authorities to enter into contracts with other political subdivisions and to pledge payments under such contracts to the payment of bonds issued by the authority, so long as the bonds are issued for a purpose specified in the contract. This bill is part of the Disney package and will permit the authority to use payments from the Tax Increment Financing Fund to pay the authority's debt service.