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1999 SESSION

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HB 1730 Route 58 Transportation Revenue Bond Act of 1999.

Introduced by: Barnie K. Day | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

U. S. Route 58 Commonwealth of Virginia Transportation Revenue Bond Act of 1999. Authorizes the issuance of U. S. Route 58 Commonwealth of Virginia Transportation Revenue Bonds pursuant to the provisions of §§ 33.1-267 through 33.1-295 and Article X, Section 9 (d) of the Virginia Constitution in an amount not exceeding $300,000,000. The purpose of the bonds is to provide funds for paying, together with any other available funds, the cost of the continued construction of an adequate, modern, safe, and efficient highway system along Virginia's southern border, which comprises the Route 58 Corridor. The bill authorizes the Transportation Board to issue the bonds to be sold through the Treasury Board, either at public or private sale. The bonds are not backed by the full faith and credit of the Commonwealth.


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