SB 1107 Toll Revenue Bond Act of 1995.
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Summary:
Commonwealth of Virginia Toll Revenue Bonds. Authorizes the issuance of revenue bonds in the amount of $140,000,000, plus the cost of issuance, for the cost of construction of the South Battlefield Boulevard Bypass Project, a new 10.2-mile toll road in the City of Chesapeake between the Great Bridge Bypass (State Route 168) and the North Carolina border. The debt service on the bonds will be paid from (i) tolls collected by the Department of Transportation, (ii) revenues received pursuant to a contract with the City of Chesapeake, and (iii) any other available funds available for such purpose. The bonds are issued for revenue-producing projects pursuant to Article X, Section 9 (d) of the Constitution of Virginia. The issuance of the bonds is contingent upon the availability on or before July 1, 2000, of other state, federal, local or private funds which, together with the anticipated toll revenues, are sufficient to pay debt service on the bonds.

Full text:
01/23/95  Senate: Presented & ordered printed LD3158649  pdf

Status:
01/23/95  Senate: Presented & ordered printed LD3158649
01/23/95  Senate: Referred to Committee on Finance
02/07/95  Senate: Left in Finance