Code of Virginia § 15.2-5419. Refunding bonds.
183 words·~1 min read·
/va/title-15-2/chapter-54/15-2-5419·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
An authority created hereunder is hereby authorized to provide by resolution for the issuance of revenue refunding bonds of the authority for the purpose of refunding any revenue bonds then outstanding and issued under the provisions of this chapter, whether or not such outstanding bonds have matured or are then subject to redemption. Each such authority is further authorized to provide by resolution for the issuance of a single issue of revenue bonds of the authority for the combined purposes of
(i)paying the cost of any project and
(ii)refunding the revenue bonds of the authority which have been issued under the provisions of this chapter and are then outstanding, whether or not such outstanding bonds have matured or are then subject to redemption. The issuance of such bonds, the maturities and other details thereof, the rights and remedies of the holders thereof, and the rights, powers, privileges, duties and obligations of the authority with respect to the bonds, shall be governed by the foregoing provisions of this chapter insofar as they are applicable.
1979, c. 416, § 15.1-1622; 1997, c. 587.