{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/15.2-5378.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/15.2-5378.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/15.2-5378.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/15.2-5378.html"}],"law_id":70989,"edition_id":1,"section_id":70989,"structure_id":12722,"section_number":"15.2-5378","catch_line":"Provisions to secure payment of bonds","history":"2007, c. 676.","full_text":"Any Authority resolution authorizing the issuance of any bonds may contain provisions, which shall be a part of the contract with the holders of the bonds, (i) pledging any or all revenues of the hospital or health center to secure the payment of the interest on such bonds and to create a sinking fund to retire the principal thereof at maturity; (ii) providing for the granting of a lien on or the creation of a security interest in any property, real or personal, of the Authority as security for the payment of the principal of, and interest on, such bonds and the due and punctual performance of any agreements made in connection therewith; (iii) providing for such schedule of fees and charges as will produce funds sufficient to pay operating costs and debt service until such bonds are retired; and (iv) prescribing the rights, obligations, powers, and duties of the Authority, the trustee under any trust indenture under which the bonds are issued, and the bondholders, in connection with or pertaining to such bonds.","order_by":null,"text":{"0":{"id":255995,"text":"Any Authority resolution authorizing the issuance of any bonds may contain provisions, which shall be a part of the contract with the holders of the bonds, (i) pledging any or all revenues of the hospital or health center to secure the payment of the interest on such bonds and to create a sinking fund to retire the principal thereof at maturity; (ii) providing for the granting of a lien on or the creation of a security interest in any property, real or personal, of the Authority as security for the payment of the principal of, and interest on, such bonds and the due and punctual performance of any agreements made in connection therewith; (iii) providing for such schedule of fees and charges as will produce funds sufficient to pay operating costs and debt service until such bonds are retired; and (iv) prescribing the rights, obligations, powers, and duties of the Authority, the trustee under any trust indenture under which the bonds are issued, and the bondholders, in connection with or pertaining to such bonds.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":12722,"edition_id":1,"name":"Southwest Virginia Health Authority","identifier":"53.1","label":"chapter","depth":3,"order_by":1,"parent_id":12721,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":159089,"object_type":"structure","relational_id":12722,"identifier":"53.1","token":"15.2\/IV\/53.1","url":"\/15.2\/IV\/53.1\/","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":86597,"structure_id":12722,"section_number":"15.2-5368","catch_line":"Southwest Virginia Health Authority established","url":"\/15.2-5368\/","token":"15.2\/IV\/53.1\/15.2-5368","metadata":false},{"id":71913,"structure_id":12722,"section_number":"15.2-5369","catch_line":"Definitions","url":"\/15.2-5369\/","token":"15.2\/IV\/53.1\/15.2-5369","metadata":false},{"id":68006,"structure_id":12722,"section_number":"15.2-5370","catch_line":"Directors; 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application of other laws; consent of local governing bodies or other agencies not required","url":"\/15.2-5385\/","token":"15.2\/IV\/53.1\/15.2-5385","metadata":false},{"id":77178,"structure_id":12722,"section_number":"15.2-5386","catch_line":"Limitations of the Authority","url":"\/15.2-5386\/","token":"15.2\/IV\/53.1\/15.2-5386","metadata":false}],"previous_section":{"id":68335,"structure_id":12722,"section_number":"15.2-5377","catch_line":"Issuance and sale of bonds","url":"\/15.2-5377\/","token":"15.2\/IV\/53.1\/15.2-5377","metadata":false},"next_section":{"id":55441,"structure_id":12722,"section_number":"15.2-5379","catch_line":"Bonds made legal investments","url":"\/15.2-5379\/","token":"15.2\/IV\/53.1\/15.2-5379","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-5378\/","history_text":"

This law was first created in 2007. The record of its establishment is cataloged in chapter 676<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":false,"permalink":{"id":159131,"object_type":"law","relational_id":70989,"identifier":"15.2-5378","token":"15.2\/IV\/53.1\/15.2-5378","url":"\/15.2-5378\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/15.2-5378\/","token":"15.2\/IV\/53.1\/15.2-5378","dublin_core":{"Title":"Provisions to secure payment of bonds","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-5378","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Any Authority<\/span> resolution authorizing the issuance of any bonds<\/span> may contain provisions, which shall be a part of the contract<\/span> with the holders of the bonds<\/span>, (i) pledging any or all revenues of the hospital<\/span> or health center to secure the payment of the interest on such bonds<\/span> and to create a sinking fund to retire the principal thereof at maturity; (ii) providing for the granting of a lien<\/span> on or the creation of a security interest in any property, real or personal, of the Authority<\/span> as security for the payment of the principal of, and interest on, such bonds<\/span> and the due and punctual performance of any agreements made in connection therewith; (iii) providing for such schedule of fees and charges as will produce funds sufficient to pay operating costs and debt service until such bonds<\/span> are retired; and (iv) prescribing the rights, obligations, powers, and duties of the Authority<\/span>, the trustee under any trust indenture under which the bonds<\/span> are issued, and the bondholders, in connection with or pertaining to such bonds<\/span>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPROVISIONS TO SECURE PAYMENT OF BONDS (\u00a7 15.2-5378)\n\nAny Authority resolution authorizing the issuance of any bonds may contain\nprovisions, which shall be a part of the contract with the holders of the bonds,\n(i) pledging any or all revenues of the hospital or health center to secure the\npayment of the interest on such bonds and to create a sinking fund to retire the\nprincipal thereof at maturity; (ii) providing for the granting of a lien on or\nthe creation of a security interest in any property, real or personal, of the\nAuthority as security for the payment of the principal of, and interest on, such\nbonds and the due and punctual performance of any agreements made in connection\ntherewith; (iii) providing for such schedule of fees and charges as will produce\nfunds sufficient to pay operating costs and debt service until such bonds are\nretired; and (iv) prescribing the rights, obligations, powers, and duties of the\nAuthority, the trustee under any trust indenture under which the bonds are\nissued, and the bondholders, in connection with or pertaining to such bonds.\n\nHISTORY: 2007, c. 676.","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}}