{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/15.2-5142.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/15.2-5142.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/15.2-5142.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/15.2-5142.html"}],"law_id":77919,"edition_id":1,"section_id":77919,"structure_id":14969,"section_number":"15.2-5142","catch_line":"Refunding bonds","history":"Code 1950, \u00a7 15-764.28; 1950, p. 1328; 1962, c. 623, \u00a7 15.1-1266; 1974, c. 226; 1997, c. 587; 2009, c. 473.","full_text":"An authority may provide by resolution for the issuance of revenue refunding bonds of the authority to refund any revenue bonds outstanding and issued under this chapter, whether or not such outstanding bonds have matured or are then subject to redemption. Proceeds of such revenue refunding bonds may be used to discharge the revenue bonds, or such revenue refunding bonds may be exchanged for the revenue bonds. Each such authority may provide by resolution for the issuance of a single issue of revenue bonds of the authority for the combined purposes of (i) paying the cost of any system, or any combination thereof, or the improvement, extension, addition or reconstruction thereof, and (ii) refunding revenue bonds of the authority which have been issued under the provisions of this chapter which are outstanding, whether or not such outstanding bonds have matured or are then subject to redemption. The issuance of such bonds, the maturities and other details thereof, the rights and remedies of the bondholders, and the rights, powers, privileges, duties and obligations of the authority with respect to such bonds, shall be governed by the foregoing provisions of this chapter to the extent that they are applicable.","order_by":null,"text":{"0":{"id":279407,"text":"An authority may provide by resolution for the issuance of revenue refunding bonds of the authority to refund any revenue bonds outstanding and issued under this chapter, whether or not such outstanding bonds have matured or are then subject to redemption. Proceeds of such revenue refunding bonds may be used to discharge the revenue bonds, or such revenue refunding bonds may be exchanged for the revenue bonds. Each such authority may provide by resolution for the issuance of a single issue of revenue bonds of the authority for the combined purposes of (i) paying the cost of any system, or any combination thereof, or the improvement, extension, addition or reconstruction thereof, and (ii) refunding revenue bonds of the authority which have been issued under the provisions of this chapter which are outstanding, whether or not such outstanding bonds have matured or are then subject to redemption. The issuance of such bonds, the maturities and other details thereof, the rights and remedies of the bondholders, and the rights, powers, privileges, duties and obligations of the authority with respect to such bonds, shall be governed by the foregoing provisions of this chapter to the extent that they are applicable.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14969,"edition_id":1,"name":"Financing","identifier":"4","label":"article","depth":4,"order_by":1,"parent_id":13433,"metadata":{},"date_created":"2026-06-26 03:51:09","date_modified":"2026-06-26 03:51:09","permalink":{"id":158567,"object_type":"structure","relational_id":14969,"identifier":"4","token":"15.2\/IV\/51\/4","url":"\/15.2\/IV\/51\/4\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13433,"edition_id":1,"name":"Virginia Water and Waste Authorities Act","identifier":"51","label":"chapter","depth":3,"order_by":1,"parent_id":12721,"metadata":{},"date_created":"2026-06-26 03:44:53","date_modified":"2026-06-26 03:44:53","permalink":{"id":158455,"object_type":"structure","relational_id":13433,"identifier":"51","token":"15.2\/IV\/51","url":"\/15.2\/IV\/51\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12721,"edition_id":1,"name":"Other Governmental Entities","identifier":"IV","label":"subtitle","depth":2,"order_by":1,"parent_id":12720,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":157897,"object_type":"structure","relational_id":12721,"identifier":"IV","token":"15.2\/IV","url":"\/15.2\/IV\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12720,"edition_id":1,"name":"Counties, Cities and Towns","identifier":"15.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":151279,"object_type":"structure","relational_id":12720,"identifier":"15.2","token":"15.2","url":"\/15.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":85033,"structure_id":14969,"section_number":"15.2-5125","catch_line":"Issuance of revenue bonds","url":"\/15.2-5125\/","token":"15.2\/IV\/51\/4\/15.2-5125","metadata":false},{"id":86781,"structure_id":14969,"section_number":"15.2-5126","catch_line":"Time for contesting validity of proposed bond issue; when bonds presumed valid","url":"\/15.2-5126\/","token":"15.2\/IV\/51\/4\/15.2-5126","metadata":false},{"id":61507,"structure_id":14969,"section_number":"15.2-5127","catch_line":"Proceeds of bonds","url":"\/15.2-5127\/","token":"15.2\/IV\/51\/4\/15.2-5127","metadata":false},{"id":58649,"structure_id":14969,"section_number":"15.2-5128","catch_line":"Interim receipts and temporary bonds; bonds mutilated, lost or destroyed","url":"\/15.2-5128\/","token":"15.2\/IV\/51\/4\/15.2-5128","metadata":false},{"id":66085,"structure_id":14969,"section_number":"15.2-5129","catch_line":"Provisions of chapter only requirements for issue","url":"\/15.2-5129\/","token":"15.2\/IV\/51\/4\/15.2-5129","metadata":false},{"id":71235,"structure_id":14969,"section_number":"15.2-5130","catch_line":"Limitations in bond resolution or trust agreement","url":"\/15.2-5130\/","token":"15.2\/IV\/51\/4\/15.2-5130","metadata":false},{"id":83247,"structure_id":14969,"section_number":"15.2-5131","catch_line":"Bonds not debts of Commonwealth or participating political subdivision","url":"\/15.2-5131\/","token":"15.2\/IV\/51\/4\/15.2-5131","metadata":false},{"id":75618,"structure_id":14969,"section_number":"15.2-5132","catch_line":"Exemption from taxation","url":"\/15.2-5132\/","token":"15.2\/IV\/51\/4\/15.2-5132","metadata":false},{"id":82457,"structure_id":14969,"section_number":"15.2-5133","catch_line":"Trust agreement; bond resolution","url":"\/15.2-5133\/","token":"15.2\/IV\/51\/4\/15.2-5133","metadata":false},{"id":57100,"structure_id":14969,"section_number":"15.2-5134","catch_line":"Disposition of unclaimed funds due on matured bonds or coupons","url":"\/15.2-5134\/","token":"15.2\/IV\/51\/4\/15.2-5134","metadata":false},{"id":84888,"structure_id":14969,"section_number":"15.2-5135","catch_line":"Contracts concerning interest rates, currency, cash flow and other basis","url":"\/15.2-5135\/","token":"15.2\/IV\/51\/4\/15.2-5135","metadata":false},{"id":72962,"structure_id":14969,"section_number":"15.2-5136","catch_line":"Rates and charges","url":"\/15.2-5136\/","token":"15.2\/IV\/51\/4\/15.2-5136","metadata":false},{"id":61144,"structure_id":14969,"section_number":"15.2-5137","catch_line":"Water and sewer connections; exceptions","url":"\/15.2-5137\/","token":"15.2\/IV\/51\/4\/15.2-5137","metadata":false},{"id":61472,"structure_id":14969,"section_number":"15.2-5138","catch_line":"Enforcement of charges","url":"\/15.2-5138\/","token":"15.2\/IV\/51\/4\/15.2-5138","metadata":false},{"id":59391,"structure_id":14969,"section_number":"15.2-5138.1","catch_line":"Enforcement of certain charges when authority does not provide water services","url":"\/15.2-5138.1\/","token":"15.2\/IV\/51\/4\/15.2-5138.1","metadata":false},{"id":64315,"structure_id":14969,"section_number":"15.2-5139","catch_line":"Lien for charges","url":"\/15.2-5139\/","token":"15.2\/IV\/51\/4\/15.2-5139","metadata":false},{"id":69179,"structure_id":14969,"section_number":"15.2-5140","catch_line":"Trust funds","url":"\/15.2-5140\/","token":"15.2\/IV\/51\/4\/15.2-5140","metadata":false},{"id":57657,"structure_id":14969,"section_number":"15.2-5141","catch_line":"Bondholder's remedies","url":"\/15.2-5141\/","token":"15.2\/IV\/51\/4\/15.2-5141","metadata":false},{"id":77919,"structure_id":14969,"section_number":"15.2-5142","catch_line":"Refunding bonds","url":"\/15.2-5142\/","token":"15.2\/IV\/51\/4\/15.2-5142","metadata":false},{"id":81266,"structure_id":14969,"section_number":"15.2-5143","catch_line":"Purchase in open market or otherwise","url":"\/15.2-5143\/","token":"15.2\/IV\/51\/4\/15.2-5143","metadata":false},{"id":57890,"structure_id":14969,"section_number":"15.2-5144","catch_line":"Investment in bonds","url":"\/15.2-5144\/","token":"15.2\/IV\/51\/4\/15.2-5144","metadata":false},{"id":57812,"structure_id":14969,"section_number":"15.2-5145","catch_line":"Financial report; authority budget; audit","url":"\/15.2-5145\/","token":"15.2\/IV\/51\/4\/15.2-5145","metadata":false}],"previous_section":{"id":57657,"structure_id":14969,"section_number":"15.2-5141","catch_line":"Bondholder's remedies","url":"\/15.2-5141\/","token":"15.2\/IV\/51\/4\/15.2-5141","metadata":false},"next_section":{"id":81266,"structure_id":14969,"section_number":"15.2-5143","catch_line":"Purchase in open market or otherwise","url":"\/15.2-5143\/","token":"15.2\/IV\/51\/4\/15.2-5143","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-5142\/","history_text":"<p>The record of this law\u2019s original creation isn\u2019t available online. It has been modified 4 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1962, chapter 623; in 1974, chapter 226; in 1997, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?971+ful+CHAP0587\">587<\/a>; in 2009, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?091+ful+CHAP0473\">473<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":158641,"object_type":"law","relational_id":77919,"identifier":"15.2-5142","token":"15.2\/IV\/51\/4\/15.2-5142","url":"\/15.2-5142\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/15.2-5142\/","token":"15.2\/IV\/51\/4\/15.2-5142","dublin_core":{"Title":"Refunding bonds","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-5142","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>An <span class=\"dictionary\">authority<\/span> may provide by resolution for the issuance of revenue refunding <span class=\"dictionary\">bonds<\/span> of the <span class=\"dictionary\">authority<\/span> to refund any revenue <span class=\"dictionary\">bonds<\/span> outstanding and issued under this chapter, whether or not such outstanding <span class=\"dictionary\">bonds<\/span> have matured or are then subject to <span class=\"dictionary\">redemption<\/span>. Proceeds of such revenue refunding <span class=\"dictionary\">bonds<\/span> may be used to discharge the revenue <span class=\"dictionary\">bonds<\/span>, or such revenue refunding <span class=\"dictionary\">bonds<\/span> may be exchanged for the revenue <span class=\"dictionary\">bonds<\/span>. Each such <span class=\"dictionary\">authority<\/span> may provide by resolution for the issuance of a single <span class=\"dictionary\">issue<\/span> of revenue <span class=\"dictionary\">bonds<\/span> of the <span class=\"dictionary\">authority<\/span> for the combined purposes of (i) paying the cost of any <span class=\"dictionary\">system<\/span>, or any combination thereof, or the improvement, extension, addition or reconstruction thereof, and (ii) refunding revenue <span class=\"dictionary\">bonds<\/span> of the <span class=\"dictionary\">authority<\/span> which have been issued under the provisions of this chapter which are outstanding, whether or not such outstanding <span class=\"dictionary\">bonds<\/span> have matured or are then subject to <span class=\"dictionary\">redemption<\/span>. The issuance of such <span class=\"dictionary\">bonds<\/span>, the maturities and other details thereof, the rights and remedies of the bondholders, and the rights, powers, <span class=\"dictionary\">privileges<\/span>, duties and obligations of the <span class=\"dictionary\">authority<\/span> with respect to such <span class=\"dictionary\">bonds<\/span>, shall be governed by the foregoing provisions of this chapter to the extent that they are applicable.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nREFUNDING BONDS (\u00a7 15.2-5142)\n\nAn authority may provide by resolution for the issuance of revenue refunding\nbonds of the authority to refund any revenue bonds outstanding and issued under\nthis chapter, whether or not such outstanding bonds have matured or are then\nsubject to redemption. Proceeds of such revenue refunding bonds may be used to\ndischarge the revenue bonds, or such revenue refunding bonds may be exchanged\nfor the revenue bonds. Each such authority may provide by resolution for the\nissuance of a single issue of revenue bonds of the authority for the combined\npurposes of (i) paying the cost of any system, or any combination thereof, or\nthe improvement, extension, addition or reconstruction thereof, and (ii)\nrefunding revenue bonds of the authority which have been issued under the\nprovisions of this chapter which are outstanding, whether or not such\noutstanding bonds have matured or are then subject to redemption. The issuance\nof such bonds, the maturities and other details thereof, the rights and remedies\nof the bondholders, and the rights, powers, privileges, duties and obligations\nof the authority with respect to such bonds, shall be governed by the foregoing\nprovisions of this chapter to the extent that they are applicable.\n\nHISTORY: Code 1950, \u00a7 15-764.28; 1950, p. 1328; 1962, c. 623, \u00a7 15.1-1266;\n1974, c. 226; 1997, c. 587; 2009, c. 473.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}