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1994 SESSION

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HB 702 Bonds for the Northern Virginia Transportation District Program.

Introduced by: Vincent F. Callahan, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY:

Bonds for the Northern Virginia Transportation District Program. Authorizes an additional $90 million (from $181 million to $271 million) in Commonwealth of Virginia Transportation Revenue Bonds to finance the cost of the projects included in the Program. The projects, and increased or new allocations, are as follows: Fairfax County Parkway, $23 million; Route 234 Bypass, $19.4 million; Metro Capital Improvements, $22.6 million; Route 7 improvements in Loudoun County, $15 million; and Route 50/Courthouse Road interchange in Arlington County, $10 million (this latter authorization may go forward only after $261 million in bonds have been issued). Northern Virginia's share of the recordation tax, estimated at $19 million, is the intended source of repayment of this $271 million in debt.


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