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2013 SESSION
HB 1953 U.S. Route 58 Corridor Development Program; issuance of bonds.
Introduced by: Charles D. Poindexter | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
U.S. Route 58 Corridor Development Program; issuance of bonds. Changes the maximum amount of bonds that the Commonwealth Transportation Board may issue from an aggregate principal amount not exceeding $704,300,000 to an aggregate principal amount not exceeding $1,300,000,000, provided that the debt service on the additional bonds that may be issued pursuant to the bill shall be paid solely by the recordation tax revenue dedicated for the development of the U.S. 58 Corridor. The bill is contingent upon a comprehensive, statewide transportation funding bill being passed by the 2013 Session of the General Assembly.
SUMMARY AS PASSED HOUSE:
U.S. Route 58 Corridor Development Program; issuance of bonds. Changes the maximum amount of bonds that may issue from an aggregate principal amount not exceeding $704,300,000, to a principal amount not exceeding $704,300,000 outstanding at any time; provided that the debt service on the additional bonds thsat may be issued pursuant to the bill, shall be paid solely by the recordation tax revenue dedicated for the development of the U.S. 58 Corridor.
SUMMARY AS INTRODUCED:
U.S. Route 58 Corridor Development Program; issuance of bonds. Changes the maximum amount of bonds that may issue from an aggregate principal amount not exceeding $704,300,000, to a principal amount not exceeding $704,300,000 outstanding at any time.