Code of Virginia § 5.1-2.13. Revenue refunding bonds; bonds for refunding and for cost of additional projects.
231 words·~1 min read·
/va/title-5-1/chapter-1/5-1-2-13·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Board is hereby authorized to provide for the issuance of revenue refunding bonds of the Board for the purpose of refunding any bonds then outstanding which shall have been issued under the provisions of this chapter, including the payment of any redemption premium thereon and any interest accrued or to accrue to the date of redemption of such bonds, and, if deemed advisable by the Board, for the additional purpose of constructing improvements, extensions, or enlargements of the airport project or projects in connection with which the bonds to be refunded shall have been issued.
The Board is further authorized to provide by resolution for the issuance of its revenue bonds for the combined purpose of
(i)refunding any bonds then outstanding which shall have been issued under the provisions of this chapter including the payment of any redemption premium thereon and any interest accrued or to accrue to the date of redemption of such bonds, and
(ii)paying all or any part of the cost of any additional airport project or projects or of any portion or portions thereof. The issuance of such bonds, the maturities, and other details thereof, the rights of the holders thereof, and the rights, duties, and obligations of the Commonwealth in respect of the same shall be governed by the provisions of this chapter insofar as the same may be applicable.
1980, c. 750.