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1996 SESSION

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HB 747 Toll Revenue Bonds; Widewater Parkway Project.

Introduced by: William J. Howell | all patrons    ...    notes | add to my profiles

SUMMARY:

Commonwealth of Virginia Toll Revenue Bonds. Authorizes the issuance of revenue bonds in the amount of $12.5 million, plus the cost of issuance, for the cost of construction of the Widewater Parkway Project, a new toll road in Stafford County from a point on U.S. Route 1 to a point near the Potomac River. The debt service on the bonds will be paid from (i) tolls collected by the Department of Transportation, (ii) revenues received pursuant to a contract with Stafford County, and (iii) any other available funds available for such purpose. The bonds are issued for revenue-producing projects pursuant to Article X, Section 9 (d) of the Constitution of Virginia. The issuance of the bonds is contingent upon the availability on or before July 1, 2000, of other state, federal, local or private funds which, together with the anticipated toll revenues, are sufficient to pay debt service on the bonds.

FULL TEXT

• 01/22/96  House: Presented & ordered printed 965776296  pdf

HISTORY

• 01/22/96  House: Presented & ordered printed 965776296
• 01/22/96  House: Referred to Committee on Appropriations
• 02/09/96  House: No action taken by Appropriations by voice vote