5.1-2.13 - Revenue refunding bonds; bonds for refunding and for cost of additional projects. - Virginia Statutes

§ 5.1-2.13. Revenue refunding bonds; bonds for refunding and for cost ofadditional projects.

The Board is hereby authorized to provide for the issuance of revenuerefunding bonds of the Board for the purpose of refunding any bonds thenoutstanding which shall have been issued under the provisions of thischapter, including the payment of any redemption premium thereon and anyinterest accrued or to accrue to the date of redemption of such bonds, and,if deemed advisable by the Board, for the additional purpose of constructingimprovements, extensions, or enlargements of the airport project or projectsin connection with which the bonds to be refunded shall have been issued. TheBoard is further authorized to provide by resolution for the issuance of itsrevenue bonds for the combined purpose of (i) refunding any bonds thenoutstanding which shall have been issued under the provisions of this chapterincluding the payment of any redemption premium thereon and any interestaccrued or to accrue to the date of redemption of such bonds, and (ii) payingall or any part of the cost of any additional airport project or projects orof any portion or portions thereof. The issuance of such bonds, thematurities, and other details thereof, the rights of the holders thereof, andthe rights, duties, and obligations of the Commonwealth in respect of thesame shall be governed by the provisions of this chapter insofar as the samemay be applicable.

(1980, c. 750.)