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Virginia Public Building Authority

The Virginia Public Building Authority (the "Authority" or the "VPBA") provides financing for State projects, facilities and obligations including the Commonwealth's share of the cost of jail and juvenile detention projects. The Authority may only undertake projects approved by the General Assembly.

The VPBA is a political subdivision of the Commonwealth of Virginia, authorized to issue bonds under the Virginia Public Building Authority Act of 1981 (the "Act"). The Authority was created by the Act for the purpose of financing, refinancing, constructing, improving, furnishing, maintaining, acquiring and operating public buildings for the use of the Commonwealth; and financing or refinancing capital projects that benefit the Commonwealth and any of its agencies, instrumentalities and political subdivisions.

VPBA Programs

The Act permits the Authority to finance projects approved by the General Assembly. The Authority also may refinance or finance reimbursements to localities or regional jail authorities of the Commonwealth's share of the costs for jail and juvenile detention projects. Bonds issued by the Authority are issued under a master indenture. The bonds are limited obligations of the Authority, secured by and payable from funds appropriated by the General Assembly of the Commonwealth. The Authority has no taxing power. Bonds issued by the Authority are rated Aa1, AA+, and AA+ from Moody's, S&P, and Fitch, respectively. The Authority has historically issued its bonds at least annually.

Statutory Requirements For Membership

Under § 2.2-2261 of the Code of Virginia, membership of the Virginia Public Building Authority is comprised of the State Treasurer, the State Comptroller, and five additional members appointed by the Governor for five year terms. The Governor designates one member of the Authority as the chairman.

Board

Gubernatorial Appointees

Chair
John A. Mahone
Chair Appointment: July 1, 2015
Chair Expiration: June 30, 2017
Appointed: July 8, 2016
Term Expiration: June 30, 2021
Sarah B. Williams Carolyn L. Bishop
Appointed: July 1, 2012
Term Expiration: June 30, 2017
Appointed: July 1, 2014
Term Expiration: June 30, 2019
Kevin O'Neill Suzanne S. Long
Appointed: July 1, 2013
Term Expiration: June 30, 2018
Appointed: July 1, 2015
Term Expiration: June 30, 2020

Ex-Officio

Manju S. Ganeriwala
Secretary/Treasurer
David A. Von Moll
State Treasurer
Appointed January 1, 2009
At Pleasure of Governor
State Comptroller
Appointed January 14, 2006
At Pleasure of Governor

Legal Counsel

Donald R. Ferguson
Sr. Assistant Attorney General
Office of the Attorney General
202 North Ninth Street
Richmond, VA 23219
(804) 786-0004
dferguson@oag.state.va.us

Staff Contacts

Bradley L. Jones Sherwanda R. Cawthorn
Public Finance Manager
Department of the Treasury
P.O. Box 1879
Richmond, VA 23218-1879
(804) 225-4929
Senior Public Finance Analyst
Department of the Treasury
P.O. Box 1879
Richmond, VA 23218-1879
(804) 225-4931
Brooks Ballard
Contact for Jail Program:
Project Coordinator,
VA Department of Corrections
Architecture & Design Section
P.O. Box 26963
(804) 673-3000
Brooks Ballard (E-mail)

 

The information contained in the bond and investor relations area of this website should not be considered an offer to sell securities or a solicitation to buy securities.

The web pages contain information relating to bond financing programs of the Commonwealth. The purpose of this section is to provide general information about the Commonwealth, its debt management, and its borrowing programs. The information is provided for quick reference only and is not a summary or a compilation of information for any particular bond issue. It does not purport to include every item which may be of interest, nor does it purport to present full and fair disclosure within the meaning of applicable securities law with respect to any of the matters or programs addressed. Investment decisions should be made only after full review of the official statement and other relevant matters in connection with a particular bond issue.

The Department of Treasury is not responsible for the content of links to other Commonwealth Websites nor the Municipal Securities Rulemaking Board (MSRB) nor Electronic Municipal Market Access (EMMA)