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1995 SESSION

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HB 1728 Transportation Facilities Bond Act of 1995.

Introduced by: William C. Mims | all patrons    ...    notes | add to my profiles

SUMMARY:

Virginia Transportation Facilities Bond Act of 1995. Authorizes the issuance of revenue bonds in the amount of $45,170,000, plus the cost of issuance and other financing expenses, for the construction of the widening of the Dulles Toll Road. The widening will add two lanes from Interstate 495 in Fairfax County to Route 28 (Sully Road) in Loudoun County, and includes improvements to the Wiehle Avenue interchange. The debt service on the bonds will be paid from tolls collected by the Department of Transportation. The bonds are backed by the full faith, credit, and taxing power of the Commonwealth. Surplus net revenues from the Dulles Toll Road may be used for additional improvements to the Dulles Toll Road and Dulles Access Road corridor, including HOV lanes and commuter parking lots, before retiring bonds issued under this bill.


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