wise-county-board-of-supervisors-agenda-november-13-2025_df8.pdf
County backs PSA water bond with moral obligation support
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Description
Wise County is considering a support agreement for a not‑to‑exceed $705,036 Water and Sewer Revenue Bond to be purchased by the Virginia Resource Authority to fund water system improvements in the former Town of Pound. The County’s obligation will be a moral obligation subject to annual appropriation, enhancing the Authority’s financing plan.
Contract Details
Contract Amount
Not to exceed $705,036 (bond principal)
Vendor
VIRGINIA RESOURCE AUTHORITY
Agency
Wise County, VA
Contract Type
FINANCIAL_SERVICES
Document Date
November 13, 2025
Contract Term
Bond term not specified in resolution
Renewal Info
Support Agreement creates an ongoing moral obligation for annual appropriations while the bond is outstanding; no fixed renewal date given.
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