RD32 - Annual Report of the Debt Capacity Advisory Committee


Executive Summary:
The Debt Capacity Advisory Committee (the "Committee") was established by Executive Order No. 38 in 1991 and was codified by the 1994 General Assembly (Chapter 27, Article 5, Sections 2.2-2712 through 2.2-2714). The Committee is required to annually review the size and condition of the Commonwealth's tax-supported debt and submit to you an estimate of the maximum amount of new tax-supported debt that prudently may be authorized for the next two years. In addition, the Committee is required to review annually the Commonwealth’s moral obligation debt and other debt for which the Commonwealth has a contingent or limited liability.