SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

1999 SESSION

  • | print version

HB 2493 Open Space Bond Act of 1999; created.

Introduced by: R. Creigh Deeds | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

Commonwealth of Virginia Parks and Recreational Facilities Bond Act of 1999. Subject to approval by a majority of the qualified voters of the Commonwealth voting thereon at the November 2, 1999, general election, authorizes the issuance of Commonwealth of Virginia Park and Recreational Facilities Bonds pursuant to Article X, Section 9 (b) of the Virginia Constitution in an amount not exceeding $111,410,000. The purpose of the bonds is to provide funds for paying, together with any other available funds, for financing the acquisition of interests in land and any structures thereon for park and recreational facilities, state parks, state forests, and sites of historic significance and for the preservation of natural resources. The full faith and credit of the Commonwealth is pledged for the payment of the principal of and interest on the bonds and any bond anticipation notes or refunding bonds. The bill authorizes the Treasury board, by and with the consent of the Governor, to fix the details of such bonds, to provide for their sale at public or private sale, to borrow money in anticipation of the issuance of the bonds, and to issue refunding bonds. The bill shall not become effective, and no bonds shall be issued, unless voter approval is obtained.


FULL TEXT

AMENDMENTS

HISTORY