15.2-2645 - Amount of bonds. - Virginia Statutes

§ 15.2-2645. Amount of bonds.

No refunding bonds shall be issued in a principal amount exceeding thatnecessary to amortize the principal of and premium, if any, and interest onthe bonds to be refunded and pay all expenses reasonably incurred in theissuance of the refunding bonds less the amount then in any sinking, escrowand other funds which are available for the payment of the principal,premium, if any, or interest on the bonds to be refunded.

(Code 1950, § 15-666.35; 1958, c. 640; 1962, c. 623, § 15.1-194; 1977, c.442; 1991, c. 668, § 15.1-227.47; 1997, c. 587.)