IDA of Stafford County & the City of Staunton, Virginia

Municipal bonds and notes of the VML/VACo Finance program are issued by the Industrial Development Authority of the County of Stafford and the City of Staunton, Virginia (IDA). This joint IDA was established solely for the purpose of serving as the Issuer for VML/VACo Finance.  The dozens of VML and VACo member localities that have benefitted from VML/VACo’s pooled financing programs since 2003 are grateful to the Board of Supervisors of Stafford County and the City Council of Staunton for their invaluable roles in creating VML/VACo Finance and for their continuing support of the program.

The IDA is organized and exists as a political subdivision of the Commonwealth.  Its Board of Directors consists of seven (7) directors, three (3) of whom are appointed on a continuing basis by the Board of Supervisors of Stafford County, and three (3) of whom are appointed on a continuing basis by the City Council of Staunton. The remaining position is appointed on a rotating basis between the two localities.  Kaufman & Canoles, P.C., serves as Bond Counsel for the Commercial Paper, Direct Loan, and Commonwealth Loan Programs.