Hampton Roads area refuse collection authority; financial planning. (SB1141)

Introduced By

Sen. John Cosgrove (R-Chesapeake)

Description

Hampton Roads area refuse collection authority; financial planning. Changes various requirements of the Southeastern Public Service Authority (the Authority) when budgeting or incurring debt, including (i) changing the required five-year overall strategic plan to a financial plan, (ii) specifying that detailed financial plans be made only when incurring long-term debt or issuing new debt, (iii) authorizing other qualified financial consultants instead of a certified public accountant to assist in the creation of the detailed financial plan, (iv) changing from the Authority's Board of Directors to the Authority the body that performs a due diligence investigation of the appropriateness of issuing new debt, and (v) raising the permissible threshold for the executive director of the authority to execute or commit the authority to a contract, memorandum of agreement, or memorandum of understanding without acquiring Board approval. Read the Bill »

Status

08/03/2021: Awaiting a Vote in the Counties, Cities and Towns Committee

History