Code of Virginia § 62.1-206. Sources of payment and security for bonds and credit enhancements.
135 words·~1 min read·
/va/title-62-1/chapter-21/62-1-206A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Authority shall have the power to pledge any revenue or funds of or under the control of the Authority to the payment of its bonds and credit enhancements, subject only to any prior agreements with the holders of particular bonds or the beneficiaries of particular credit enhancements pledging money or revenue. Bonds or credit enhancements issued by the Authority may be secured by a pledge of any local obligation owned by the Authority, any grant, contribution or guaranty from the United States of America, the Commonwealth or any corporation, association, institution or person, any other property or assets of or under the control of the Authority, or a pledge of any money, income or revenue of the Authority from any source.
1984, c. 699; 1985, c. 67; 1986, c. 415; 1998, c. 399 .