Gov. Robert F. McDonnell has appointed a new head of the Virginia Resources Authority.The new VRA executive director is Stephanie Hamlett, who succeeds Sheryl Bailey. Bailey left the to become deputy administrator of Chesterfield County.
Hamlett was previously McDonnell’s deputy counselor. While working in the attorney general’s office, she was issuer’s counsel on debt issued by the state. The VRA had $2.48 billion of bonds outstanding as of March 31.
McDonnell has said he will use the VRA as a model for his plan to create a state infrastructure bank funded by proceeds from privatizing state liquor stores. It is not clear yet if it will issue bonds.
