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RESOLIITION NO. 92-24
ENDORSING AND ENCOIIRAGING PIIBLIC SIIPPORT
FOR THE HIGHER EDIICATION STATE BOND ISSIIE
WHEREAS, the Virginia General Assembly has placed a bond issue on
the November 3rd statewide ballot that will provide $472 million
for the renovation and expansion of higher education facilities
throughout the Commonwealth; and,
WHEREAS, the general obligation bonds will not change the state's
"AAA" bond rating, which is the highest possible bond rating, and
which is currently enjoyed by only five states in the entire
nation; and,
WHEREAS, even with the issuance of the bonds, Virginia will still
be within conservative debt limits; and,
WHEREAS, just as a corporation borrows to build a new manufacturing
facility or an individual obtains a mortgage to finance the
purchase of a home, the bond issue will be invested entirely in
capital improvements; and none of the bond proceeds will be used
for the operating expenses of state government; and,
• WHEREAS, the bond projects will also create new construction jobs
and will help stimulate the state's economy; and,
WHEREAS, the bond issue includes $4.2 million for the construction
of a business technology building and a library expansion at New
River Community College; $19 million for additional facilities at
Radford University; and $43 million for additional facilities at
Virginia Tech; and,
WHEREAS, these improvements in the New River Valley will help to
ensure that the Valley's higher education system will continue to
be a strong asset for economic and community development.
NOW, THEREFORE, BE IT RESOLVED by the Town .Council of the Town of
Pulaski, Virginia, sitting in regular session on October 6, 1992,
that:
SECTION 1. The Town Council does hereby endorse the Higher
Education State Bond Issue that will appear on the ballot on
November 3rd and will provide $472 million for the renovation and
expansion of higher education facilities throughout the
Commonwealth, including the construction of additional facilities
at New River Community College, Radford University, and Virginia
Tech.
Section 2. The Town Council encourages all Pulaski citizens to
vote on November 3rd and to support the state Higher Education Bond
• Issue.
•
Section 3. This resolution is effective upon adoption and is
hereby adopted this 6th day of October, 1992, by recorded vote of
the Town Council of the Town of Pulaski, as follows:
Charles D. Crispin Aye Andrew L. Graham Aye
J. R. Schrader, Jr. Aye Elbert G. Black, Jr. Ave
Roy H. D'Ardenne, Jr. ~ Alma H. Holston ~
W. H. Schrader, Jr. ~ Robert N. Glenn ~
TOWN OF PULASKI, VIRGINIA
By : ~,
Gary Hancoc , Mayor
Attest:
.tub ~t .
R A. Harre , C er o Counci
r 1
U