Rockingham County Board of Supervisors Meeting Agenda March 25 2026
$12.6M Bond Issuance to VPSA Approved for Schools
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Description
The Rockingham County Board of Supervisors approved issuing up to $12,600,000 in general obligation school bonds, to be purchased by the Virginia Public School Authority, with proceeds designated for McGaheysville Elementary School and related projects. The bond term may extend up to 30 years with terms set by the VPSA pool bond sale in April 2026.
Contract Details
Contract Amount
Not to exceed $12,600,000
Vendor
VIRGINIA PUBLIC SCHOOL AUTHORITY
Agency
Rockingham County, VA
Contract Type
FINANCIAL_SERVICES
Document Date
March 25, 2026
Contract Term
Up to 30 years from date of issuance (expected issue April 2026, maturity not to exceed July 15, 2056)
Renewal Date
2056-07-15
Renewal Info
Redemption allowed after July 15, 2036, with specific prices; no automatic renewals, but the agreement contemplates possible refunding by VPSA for future savings. Full faith and credit of the County pledged for term.
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