Subject:
Title
Consider approving a resolution consenting to the Middle River Regional Jail to issue refinancing bonds
Body
Presented By: City Staff
Recommendation and Review
The Middle River Regional Jail Authority has the opportunity to refinance their existing bonds in order to provide debt service savings that would subsequently be allocated to all participating member jurisdictions. The bonds would be issued through the Virginia Resource Authority’s pooled bond program. VRA requires all member jurisdictions to consider and approve a resolution consenting to the Authority’s participation in their pooled bond program.