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FINANCIAL_SERVICESAPPROVED

HRSD Minutes April 28, 2026

HRSD approves $60M VRA revolving loan for 2026 CIP

Not to exceed $60,000,000Hampton Road Sanitation District (HRSD)VIRGINIA RESOURCES AUTHORITYApril 28, 2026

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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Description

The Commission authorized issuance of a senior wastewater revenue bond of up to $60 million to the Virginia Resources Authority under the Virginia Clean Water Revolving Loan Fund. The 20‑year loan will support 23 projects in HRSD’s 2026 CIP program and is expected to save about $9 million in interest compared to market‑rate borrowing.

Contract Details

Contract Amount

Not to exceed $60,000,000

Vendor

VIRGINIA RESOURCES AUTHORITY

Agency

Hampton Road Sanitation District (HRSD), VA

Contract Type

FINANCIAL_SERVICES

Document Date

April 28, 2026

Contract Term

Up to 20 years; loan scheduled to close in April 2026, with maturity no later than December 1, 2047 and interest rate not to exceed 2.70%

Renewal Date

2047-12-01

Renewal Info

Bond issued as a new senior obligation under the Trust Agreement with potential optional redemption upon VRA consent; not a renewal of an existing loan.

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