10.1-1614 - Revenue refunding bonds; bonds for refunding and for cost of additional projects. - Virginia Statutes

§ 10.1-1614. Revenue refunding bonds; bonds for refunding and for cost ofadditional projects.

The Authority is authorized to provide for the issuance of revenue refundingbonds of the Authority for the purpose of refunding any bonds thenoutstanding which have been issued under the provisions of this chapter,including the payment of any redemption premium and any interest accrued orto accrue to the date of redemption of such bonds, and, if deemed advisableby the Authority, for the additional purpose of constructing improvements,extensions, or enlargements of the projects in connection with which thebonds to be refunded have been issued. The Authority is further authorized toprovide by resolution for the issuance of its revenue bonds for the combinedpurpose of (i) refunding any bonds then outstanding which have been issuedunder the provisions of this chapter, including the payment of any redemptionpremium and any interest accrued or to accrue to the date of redemption ofsuch bonds, and (ii) paying all or any part of the cost of any additionalproject or any portion thereof. The issuance of such bonds, the maturitiesand other details, the rights of the holders, and the rights, duties andobligations of the Authority shall be governed by the provisions of thischapter.

(1986, c. 360, § 10-158.11; 1988, c. 891.)