2.2-2289 - Power to issue umbrella bonds. - Virginia Statutes

§ 2.2-2289. Power to issue umbrella bonds.

In addition to the powers of the Authority to issue bonds, it may issuebonds, the proceeds of which, after payment of the costs of issuance thereof,shall be used to make loans, no single loan to be in excess of ten milliondollars in aggregate principal amount, to finance or refinance the projectsof eligible businesses. The Authority shall adopt such rules and regulationsas are necessary to carry out the purposes of this section and to provideprocedures for the making of such loans and the repayment thereof.

(1984, c. 749, § 9-210; 1986, c. 297; 2001, c. 844; 2009, c. 565.)