SB 232 — Commonwealth of Virginia Institutions of Higher Education Bond Act of 2018; created.

SESSION history | hilite | pdf | print version 18101950DVIRGINIA SENATEACTS BILLOF NO.ASSEMBLY -- CHAPTER An Act to authorize the issuance of bonds, in an amount up to $21,000,000 plus financing costs, pursuant to Article X, Section 9 (c) of the Constitution of Virginia, for paying costs of acquiring, constructing, and equipping revenue-producing capital projects at institutions of higher education of the Commonwealth;

232 Offered January 10, 2018 Prefiled January 4, 2018 A BILL to authorize the issuance of bonds, in an amount up to $21,000,000 plus financing costs, pursuant to Article X, Section 9 (c) of the Constitution of Virginia, for paying costs of acquiring, constructing, and equipping revenue-producing capital projects at institutions of higher education of the Commonwealth;

----------[S Patron--232] HangerApproved ----------  Referred to Committee on Finance ---------- Whereas, Article X, Section 9 (c) of the Constitution of Virginia provides that the General Assembly may authorize the creation of debt secured by a pledge of net revenues derived from rates, fees, or other charges and the full faith and credit of the Commonwealth of Virginia, provided that such debt is created for specific revenue-producing capital projects, including their enlargement or improvement, at, among others, institutions of higher education of the Commonwealth;

In the discretion of the Treasury Board, bonds and BANs may be issued at one time or from time to time and may be sold and issued at the same time with other general obligation bonds and BANs, respectively, of the Commonwealth authorized pursuant to Article X, Section 9 (a) (3), (b), and (c) of the Constitution of Virginia, as separate issues or as a combined issue, designated "Commonwealth of Virginia General Obligation Bonds Bond Anticipation Notes, SeriesSeries."    ." § 5.