62.1-206 - Sources of payment and security for bonds and credit enhancements. - Virginia Statutes

§ 62.1-206. Sources of payment and security for bonds and credit enhancements.

The Authority shall have the power to pledge any revenue or funds of or underthe control of the Authority to the payment of its bonds and creditenhancements, subject only to any prior agreements with the holders ofparticular bonds or the beneficiaries of particular credit enhancementspledging money or revenue. Bonds or credit enhancements issued by theAuthority may be secured by a pledge of any local obligation owned by theAuthority, any grant, contribution or guaranty from the United States ofAmerica, the Commonwealth or any corporation, association, institution orperson, any other property or assets of or under the control of theAuthority, or a pledge of any money, income or revenue of the Authority fromany source.

(1984, c. 699; 1985, c. 67; 1986, c. 415; 1998, c. 399.)