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1998 SESSION
HB 1342 Housing Development Authority; powers.
Introduced by: Alan A. Diamonstein | all patrons ... notes | add to my profiles
SUMMARY:
VHDA; powers. Authorizes VHDA to enter into agreements with the federal government or other parties for the provision by VHDA of services and assistance in the modification of a debt or in the improvement of the financial or physical condition of any housing development, including developments owned, financed or assisted by the federal government or financed by a mortgage loan insured by the federal government. The bill authorizes the inclusion in such agreements of indemnification by VHDA against liabilities and costs in connection with the provision of such services and assistance. The bill provides that the purchase or ownership by VHDA of any of its notes or bonds with the intent that such notes or bonds remain outstanding, after written notice to the trustee, shall not cause the notes or bonds to be cancelled or extinguished except under certain circumstances. The bill also provides that VHDA (i) may deposit its funds in federal home loan banks; (ii) may invest its moneys in (a) obligations or securities considered lawful investments for fiduciaries, (b) investments authorized for public funds, and (c) any other investments authorized for moneys held under any bond resolution or trust indenture which have long-term ratings of at least AA or Aa by two rating agencies, one of which must be Moody's Investors Services, Inc., or Standard & Poor's Ratings Group; and (iii) may contract with lenders other than the holders of its notes and bonds for the custody, collection, securing, investment and payment of moneys of VHDA.
FULL TEXT
- 01/26/98 House: Presented & ordered printed 981515204 pdf
- 02/14/98 House: Printed as engrossed 981515204-E pdf
- 03/09/98 House: Bill text as passed House and Senate (HB1342ER) pdf
- 04/20/98 Governor: Acts of Assembly Chapter text (CHAP0442) pdf
AMENDMENTS
HISTORY
- 01/26/98 House: Presented & ordered printed 981515204
- 01/26/98 House: Referred to Committee on General Laws
- 01/28/98 House: Assigned to General Laws sub-committee: 1
- 02/12/98 House: Reported from General Laws with amds. (26-Y 0-N)
- 02/12/98 House: Read first time
- 02/13/98 House: Passed by for the day
- 02/14/98 House: Read second time
- 02/14/98 House: Committee amendments agreed to
- 02/14/98 House: Engrossed by House as amended
- 02/14/98 House: Printed as engrossed 981515204-E
- 02/15/98 House: Read third time and passed House (Block Vote) (99-Y 0-N)
- 02/15/98 House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
- 02/15/98 House: Communicated to Senate
- 02/16/98 Senate: Constitutional reading dispensed
- 02/16/98 Senate: Referred to Committee on General Laws
- 02/25/98 Senate: Reported from General Laws (15-Y 0-N)
- 02/26/98 Senate: Const. reading disp., passed by for the day (39-Y 0-N)
- 02/26/98 Senate: VOTE: CONST. RDG. DISPENSED R (39-Y 0-N)
- 02/27/98 Senate: Read third time
- 02/27/98 Senate: Passed Senate (39-Y 0-N)
- 02/27/98 Senate: VOTE: PASSAGE R (39-Y 0-N)
- 03/09/98 House: Bill text as passed House and Senate (HB1342ER)
- 03/12/98 House: Enrolled
- 03/13/98 House: Signed by Speaker
- 03/14/98 Senate: Signed by President
- 04/12/98 Governor: Approved by Governor-Chapter 442 (effective 7/1/98)
- 04/20/98 Governor: Acts of Assembly Chapter text (CHAP0442)