Development authority approves resolution authorizing public‑facility revenue bonds
The board approved a resolution authorizing the issuance and sale of BBDA public‑facility revenue bonds to reimburse capital program expenditures; staff said the bonds are fully supported by the city and reimburse prior spending before city council consideration.
The full story
The Virginia Beach Development Authority voted to approve a resolution authorizing the issuance and sale of public‑facility revenue bonds to reimburse capital‑program expenditures. Dana Hermeyer presented the financing as a routine step to access the market and reimburse previously spent capital funds; she told the board the listed projects are included on an exhibit to the financing documents and noted the city will next consider the request at council.
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