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Virginia Projects Share $71.6 Million In School-Building Bonds
RICHMOND, Va. (AP) Eight projects in Virginia are sharing more than $71 million in federal bonds for school construction. The no-interest bonds were established by the American Recovery and Reinvestment Act. They are available to localities for K-12 school construction, renovation and land acquisition for schools.
Gov. Tim Kaine said Thursday that the bonds are part of about $191 million authorized for Virginia through the Qualified School Construction Bonds program in 2009. The projects receiving the bonds are in Petersburg, Portsmouth, Lynchburg, Lexington, and Richmond, Fluvanna and Montgomery counties.
Allocation of the funds were made at Kaine's discretion. Later this fall, he will announce the use of the rest of the 2009 funds. Virginia expects to receive an additional $191 million from the program in 2010.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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