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City of Martinsville Awards $3,000,000 Bond Contract to Virginia Resources Authority (September 2025)

City of Martinsville
Disclosed value
$3,000,000
From resolution
Approved
Sep 16, 2025
Term
30 years

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THE 30-SECOND BRIEF

What it covers

The City of Martinsville approves the sale of an electric utility system general obligation and revenue bond to the Virginia Resources Authority for no less than $3,000,000. The bond will finance electric utility system improvements with a maximum interest rate of 5.50% and will mature no later than December 31, 2055.

Who holds it

Virginia Resources Authority holds this bond contract with City of Martinsville. Its other public contracts on record include work for Town of St. Paul and Nelson County.

What happens next

Term as filed: 30 years.

Contract details

Contract type
Bond
Amount
$3,000,000
Document date
September 16, 2025
Term
30 years
Vendor
Virginia Resources Authority
Agency
City of Martinsville
Source document
city-of-martinsville-resolution-approving-electric-utility-bond_a58.pdf (Resolution)

Virginia Resources Authority's other public contracts

Town of St. Paul, VirginiaTown Pays Virginia Resources Authority on Financing · Oct 19, 2026$56.3KNelson County, VirginiaNelson County Pursues VRA Financing for Land Purchases · Oct 13, 2026Town of Front Royal, VirginiaFront Royal Considers $1.8 Million Riverton Sewer Bond · Oct 5, 2026City of Danville, VirginiaVirginia Resources Authority Assists Berry Hill Pipeline Financing · Oct 4, 2026Potomac And Rappahannock Transportation Commission, VirginiaVRE Budgets Debt Service for VRA Railcar Financing · Sep 29, 2026$4.2MAll Virginia Resources Authority contractsVendor profile

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Questions about this contract

Who was awarded the bond contract by City of Martinsville?

Virginia Resources Authority was awarded this bond contract by City of Martinsville, as recorded on September 16, 2025. The contract value is $3,000,000.

How much is the Virginia Resources Authority contract with City of Martinsville worth?

The Virginia Resources Authority contract with City of Martinsville is valued at $3,000,000, covering bond work.

What type of contract is this?

This is a Bond contract, documented as a resolution record.

Where was this contract approved?

This contract appears in city-of-martinsville-resolution-approving-electric-utility-bond_a58.pdf (Resolution), dated September 16, 2025 from City of Martinsville. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does Virginia Resources Authority hold?

Virginia Resources Authority may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

What is City of Martinsville currently buying?

Explore City of Martinsville's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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