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New law will allow Virginia bridges and tunnels to be replaced or repaired sooner

    Adrian Olmex
    By Adrian Olmex Replies (1)

    The bill titled `Commonwealth Transportation Special Structures Program Revenue Bond Act of 2025` says:

    Transportation; Commonwealth Transportation Special Structures Program Revenue Bond Act of 2025. Authorizes the Commonwealth Transportation Board to issue revenue bonds to be known and designated as "Commonwealth of Virginia Special Structures Program Revenue Bonds." The bill provides that the aggregate principal amount of such bonds shall not exceed $1 billion and shall not exceed $200 million in any single fiscal year. The bonds shall be payable solely (i) first from revenues received from the Special Structure Fund; (ii) second and to the extent required, from revenues legally available from the Transportation Trust Fund; and (iii) then to the extent required, from any other legally available funds.

    And Virginia Mercury explains what this means:

    https://virginiamercury.com/2025/04/22/new-law-will-allow-virginia-bridges-and-tunnels-to-be-replaced-or-repaired-sooner/

     

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