HB 1006 Higher Education and Related Educational Facilities Bond Act of 1996.
Alan A. Diamonstein | all patrons    ...    notes
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Summary:
Commonwealth of Virginia Higher Education and Related Educational Facilities Bond Act of 1996. Subject to approval by a majority of the qualified voters of the Commonwealth voting thereon at the November 5, 1996, general election, authorizes the issuance of Commonwealth of Virginia Higher Education and Related Educational Facilities Bonds pursuant to Article X, Section 9 (b) of the Virginia Constitution in an amount not exceeding $100,000,000. 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 higher education and related educational 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 voter approval is obtained.

Full text:
01/22/96  House: Presented & ordered printed 967193204  pdf

Status:
01/22/96  House: Presented & ordered printed 967193204
01/22/96  House: Referred to Committee on Appropriations
02/13/96  House: Continued to 1997 in Appropriations (16-Y 5-N)
12/20/96  House: No action taken by Appropriations by voice vote