WASHINGTON -- Virginia is slated to come to market this week with a $90 million moral obligation bond issue, the first under a new security structure for the state public school authority in which the state pledges appropriations in event of a deficiency.

The deal will come on the heels of a controversial ruling, handed down by the state Supreme Court in April, that temporarily invalidated appropriation-backed debt in April.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.