Friday, March 19, 2010
Federal Bonding To Be Reallocated
WEST VIRGINIA...
Through a federal stimulus program, West Virginia was allocated $90 million in bonding capacity allowing local governments in 44 eligible counties to issue tax-exempt bonds for public projects. The West Virginia Economic Development Authority says county commissions and municipalities in only 14 eligible counties took advantage of the program and applied to issue bonds totaling $36.8 million, leaving $53 million in bonding capacity which the authority plans to reallocate by April 1st. The deadline for issuing bonds is December 31st, and any portion of West Virginia’s allocation that hasn't been used by then will be lost.
Through a federal stimulus program, West Virginia was allocated $90 million in bonding capacity allowing local governments in 44 eligible counties to issue tax-exempt bonds for public projects. The West Virginia Economic Development Authority says county commissions and municipalities in only 14 eligible counties took advantage of the program and applied to issue bonds totaling $36.8 million, leaving $53 million in bonding capacity which the authority plans to reallocate by April 1st. The deadline for issuing bonds is December 31st, and any portion of West Virginia’s allocation that hasn't been used by then will be lost.
# posted by Homer Owens @ 11:41 AM 
