FAQ

Bonds are used in the Commonwealth of Virginia to finance the costs of long term capital improvements throughout the state. The Commonwealth does not use bonds to close budget gaps or fix cash flow problems. VCBA bonds are used for new construction, improvements and equipment at our institutions of higher education.

The VCBA’s 21st Century Bonds, which are backed by appropriations by the Commonwealth, are rated AA+/Aa1/AA+ by Fitch, Moody’s and Standard and Poor’s rating agencies respectively. The VCBA’s Pool Bonds, which are backed by a general revenue pledge of participating institutions and further supported by a state intercept program, are also rated AA+/Aa1/AA+.

You can purchase Virginia bonds through your brokerage firm.

The VCBA’s 21st Century Bonds, which are backed by appropriations by the Commonwealth, are rated AA+/Aa1/AA+ by Fitch, Moody’s and Standard and Poor’s rating agencies respectively.

The VCBA’s Pool Bonds, which are backed by a general revenue pledge of participating institutions and further supported by a state intercept program, are also rated AA+/Aa1/AA+.

The bonds are usually in increments of $5,000.

Bonds can vary in maturity date from one to 20 years.

Interest rates are determined on the date of sale and can vary depending on the term of the bond, market conditions, investor demand, and security structure.