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1998 SESSION

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HB 372 Public School Authority; issuance of bonds.

Introduced by: J. Paul Councill, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY:

Virginia Public School Authority. Provides that the issuance of bonds by VPSA may be based on debt service payments payable from appropriations from the General Assembly. The proposed budget bills and amendments are required to include a proposed appropriation of a sum sufficient, first from the Literary Fund and then from the general fund, to address any debt service shortfalls. By providing that the VPSA is not a political subdivision, the bill also allows the VPSA's board to hold electronic meetings in accordance with the Freedom of Information Act.


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