SB 651 Correctional Facilities Bond Act of 1995.
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Commonwealth of Virginia Correctional Facilities Bond Act of 1995. Subject to approval by a majority of the qualified voters of the Commonwealth voting thereon at the November 7, 1995, general election, authorizes the issuance of Commonwealth of Virginia Correctional Facilities Bonds pursuant to Article X, Section 9 (b) of the Virginia Constitution in an amount not exceeding $227,465,000, the purpose of which is to provide funds for paying, together with any other available funds, the cost of acquiring, constructing, renovating, furnishing, and equipping certain capital projects for correctional 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 provide for their sale at public or private sale, 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 and until such voter approval is obtained.

Full text:
01/20/95  Senate: Presented & ordered printed LD3666817  pdf

01/20/95  Senate: Presented & ordered printed LD3666817
01/20/95  Senate: Referred to Committee on Finance
02/07/95  Senate: Left in Finance