23-30.46 - Issuance of negotiable notes. - Virginia Statutes

§ 23-30.46. Issuance of negotiable notes.

The Authority may from time to time issue negotiable notes for any corporatepurpose and may from time to time renew any notes by the issuance of newnotes, whether the notes to be renewed have or have not matured. TheAuthority may issue notes partly to renew notes or to discharge otherobligations then outstanding and partly for any other purpose. The notes maybe authorized, sold, executed and delivered in the same manner as bonds. Anyresolution or resolutions authorizing notes of the Authority or any issuethereof may contain any provisions which the Authority is authorized toinclude in any resolution or resolutions authorizing revenue bonds of theAuthority or any issue thereof, and the Authority may include in any notesany terms, covenants or conditions which it is authorized to include in anybonds. All such notes shall be payable solely from the revenues of theAuthority, subject only to any contractual rights of the holders of any ofits notes or other obligations then outstanding.

(1972, c. 686.)