WASHINGTON — The Virginia College Building Authority on Wednesday will sell about $377 million of bonds in a competitive sale that the commonwealth’s financial officers think will be met with strong market demand.

The VCBA will sell the bonds as part of its 21st Century College and Equipment Program, formed in 1999 from two existing programs funding higher education in the commonwealth. The securities will be secured by the Virginia General Assembly’s appropriations to the VCBA, which has no independent taxing power.

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