2.2-2298 - Authorization of bonds by resolution; contents of bond sale; manner. - Virginia Statutes

§ 2.2-2298. Authorization of bonds by resolution; contents of bond sale;manner.

The bonds shall be authorized by a resolution of the Board, shall bear suchdate or dates, and shall mature at such time as such resolution may provide,except that no bond shall mature more than fifty years from the date ofissue. The bonds shall (i) bear interest at such rates, including variationsof such rates; (ii) be in such denominations; (iii) be in such form; (iv)carry such registration privileges; (v) be executed in such manner; (vi) bepayable in such medium of payment, at such place; and (vii) be subject tosuch terms of redemption, including redemption prior to maturity, as theresolution may provide. Except as expressly provided otherwise in thisarticle, the provisions of other laws of the Commonwealth relating to theissuance of revenue bonds shall not apply to bonds issued by the Authority.Bonds of the Authority may be sold by the Authority at public or private saleand at such price as the Authority determines.

(1984, c. 749, § 9-222; 2001, c. 844.)