1998 Session

Budget Amendments - SB30 (Committee Approved)

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Repayment of VDOT line of credit by Buchanan County (language only)

Item 523 #3s

Item 523 #3s

Transportation, Department of

Page 309, after line 23, insert:
"H. The Department of Transportation shall not require Buchanan County to repay the August, 1994, letter of credit until June 30, 1999."

(This amendment delays for approximately 20 months the repayment of a $310,000 letter-of-credit Buchanan County signed with VDOT. The loan was originally requested to build an access road to the Council Industrial Park. Since the three year letter-of-credit has expired without a business locating in the industrial park, VDOT has requested that Buchanan County repay the loan.)