15.2-5419 - Refunding bonds. - Virginia Statutes

§ 15.2-5419. Refunding bonds.

An authority created hereunder is hereby authorized to provide by resolutionfor the issuance of revenue refunding bonds of the authority for the purposeof refunding any revenue bonds then outstanding and issued under theprovisions of this chapter, whether or not such outstanding bonds havematured or are then subject to redemption. Each such authority is furtherauthorized to provide by resolution for the issuance of a single issue ofrevenue bonds of the authority for the combined purposes of (i) paying thecost of any project and (ii) refunding the revenue bonds of the authoritywhich have been issued under the provisions of this chapter and are thenoutstanding, whether or not such outstanding bonds have matured or are thensubject to redemption. The issuance of such bonds, the maturities and otherdetails thereof, the rights and remedies of the holders thereof, and therights, powers, privileges, duties and obligations of the authority withrespect to the bonds, shall be governed by the foregoing provisions of thischapter insofar as they are applicable.

(1979, c. 416, § 15.1-1622; 1997, c. 587.)