Summary as introduced:
Commonwealth of Virginia Cultural Facilities Bond Act of 2001. Authorizes,subject to approval by a majority of the qualified voters of the Commonwealth voting thereon at the November 6, 2001, general election, the issuance of Commonwealth of Virginia Cultural Facilities Bonds pursuant to Article X, Section 9 (b) of the Virginia Constitution in an amount not exceeding $97,170,000. The purpose of the bonds is to provide funds for paying, together with any other available funds, the cost of maintaining, restoring, repairing, improving, and refurbishing the physical plants, including incidental equipment, of cultural, historic and artistic facilities. 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 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.
01/19/01 House: Presented & ordered printed 012715756 pdf | impact statement
01/19/01 House: Presented & ordered printed 012715756
01/19/01 House: Referred to Committee on Finance
01/31/01 House: Reported from Finance (18-Y 5-N)
01/31/01 House: Referred to Committee on Appropriations
02/06/01 House: Left in Appropriations