2.2-2290 - Insurance or guarantee fund. - Virginia Statutes

§ 2.2-2290. Insurance or guarantee fund.

There is created an insurance or guarantee fund of the Authority that may beused for any of the following purposes:

1. To insure the payment or repayment of all or any part of the principal of,redemption or prepayment premiums or penalties on, and interest on its bonds;

2. To insure the payment or repayment of all or any part of the principal of,redemption or prepayment premiums or penalties on, and interest on anyinstrument executed, obtained or delivered in connection with the issuanceand sale of its bonds; and

3. To pay or insure the payment of any fees or premiums necessary to obtaininsurance, guarantees, or other instruments or enhancement of credit for orsupport from any person in connection with financing assistance provided bythe Authority under this article including but not limited to working capitalloans made by a lender, a preferred lender, or both.

(1984, c. 749, § 9-211; 2001, c. 844; 2008, c. 744.)