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available for water and sewer projects.
Participants in all VRA bond programs save on interest costs due to the VRA’s AA bond rating from Standard & Poor’s, a national bond rating agency. The VRA lends the proceeds of its bond issues to borrowing localities at a favorable interest rate due to this rating, regardless of whether the locality itself has been rated.
The Virginia Resources Authority was created to provide assistance to the local governments of Virginia for the financing of their water, sewer and solid waste projects. In the ten years of the VRA’s existence, localities in Virginia have utilized nearly $463 million in bonds for their environmental infrastructure needs form the Virginia Resoucres Authority bond programs.
92.5%