Virginians could get flush in more ways than one.
The commonwealth is giving citizens the chance to buy government bonds before big, institutional investors can snap them up. And the bonds will finance — you guessed it — wastewater projects.
The Virginia Resources Authority is issuing $227 million in Infrastructure and State Revenue Bonds to finance and refinance improvements to wastewater, water and other projects around the state.
The bonds, some of them tax-exempt, will first be offered Tuesday to individual Virginians. Any unsold bonds will be offered to large institutional investors the next day.
“I am pleased to offer these bonds to Virginia citizens who have the most to gain from investing in the Commonwealth’s programs and improvements to our environment,” Gov. Robert F. McDonnell (R) said in a prepared statement. “Particularly in these tough economic times it is important to provide our citizens with an opportunity to invest in safe and secure revenue bonds issued by the Virginia Resources Authority.”
For more information about these bonds is available at www.BuyVRABonds.com.