Code of Virginia § 2.2-2298. Authorization of bonds by resolution; contents of bond sale; manner.

172 words·~1 min read·/va/title-2-2/chapter-22/2-2-2298

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

The bonds shall be authorized by a resolution of the Board, shall bear such date or dates, and shall mature at such time as such resolution may provide, except that no bond shall mature more than fifty years from the date of issue. The bonds shall

(i)bear interest at such rates, including variations of such rates;

(ii)be in such denominations;

(iii)be in such form;

(iv)carry such registration privileges;

(v)be executed in such manner;

(vi)be payable in such medium of payment, at such place; and

(vii)be subject to such terms of redemption, including redemption prior to maturity, as the resolution may provide. Except as expressly provided otherwise in this article, the provisions of other laws of the Commonwealth relating to the issuance of revenue bonds shall not apply to bonds issued by the Authority. Bonds of the Authority may be sold by the Authority at public or private sale and at such price as the Authority determines.

1984, c. 749, § 9-222; 2001, c. 844 .