{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/15.2-7219.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/15.2-7219.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/15.2-7219.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/15.2-7219.html"}],"law_id":79805,"edition_id":1,"section_id":79805,"structure_id":14681,"section_number":"15.2-7219","catch_line":"Contracts concerning interest rates and investments","history":"2010, cc. 117, 210.","full_text":"The Authority may enter into any contract that the Board of Directors determines to be necessary or appropriate to place the obligation or investment of the Authority, as represented by the bonds or the investment of their proceeds, in whole or in part, on the interest rate, cash flow, or other basis desired by the Authority, which contract may include, without limitation, interest rate swap agreements, future contracts and contracts providing for payments based upon levels of, or changes in, interest rates. These contracts or arrangements may be entered into by the Authority in connection with, or incidental to, entering into or maintaining any (i) agreement that secures bonds or (ii) investment, or contract providing for investment, otherwise authorized by law. These contracts may contain such payment, security, default, remedy, and other terms as determined by the Authority. Any money set aside and pledged to secure payments of bonds or any contracts entered into pursuant to this section may be invested in accordance with Chapter 45 (\u00a7 2.2-4500 et seq.) of Title 2.2 and may be pledged to and used to service any of the contracts or agreements entered into pursuant to this section.","order_by":null,"text":{"0":{"id":285902,"text":"The Authority may enter into any contract that the Board of Directors determines to be necessary or appropriate to place the obligation or investment of the Authority, as represented by the bonds or the investment of their proceeds, in whole or in part, on the interest rate, cash flow, or other basis desired by the Authority, which contract may include, without limitation, interest rate swap agreements, future contracts and contracts providing for payments based upon levels of, or changes in, interest rates. These contracts or arrangements may be entered into by the Authority in connection with, or incidental to, entering into or maintaining any (i) agreement that secures bonds or (ii) investment, or contract providing for investment, otherwise authorized by law. These contracts may contain such payment, security, default, remedy, and other terms as determined by the Authority. Any money set aside and pledged to secure payments of bonds or any contracts entered into pursuant to this section may be invested in accordance with Chapter 45 (\u00a7 2.2-4500 et seq.) of Title 2.2 and may be pledged to and used to service any of the contracts or agreements entered into pursuant to this section.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14681,"edition_id":1,"name":"Bvu Authority Act","identifier":"72","label":"chapter","depth":3,"order_by":1,"parent_id":12721,"metadata":{},"date_created":"2026-06-26 03:49:18","date_modified":"2026-06-26 03:49:18","permalink":{"id":160609,"object_type":"structure","relational_id":14681,"identifier":"72","token":"15.2\/IV\/72","url":"\/15.2\/IV\/72\/","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":70201,"structure_id":14681,"section_number":"15.2-7200","catch_line":"Short title","url":"\/15.2-7200\/","token":"15.2\/IV\/72\/15.2-7200","metadata":false},{"id":72489,"structure_id":14681,"section_number":"15.2-7201","catch_line":"Creation; public purpose","url":"\/15.2-7201\/","token":"15.2\/IV\/72\/15.2-7201","metadata":false},{"id":61515,"structure_id":14681,"section_number":"15.2-7202","catch_line":"Definitions","url":"\/15.2-7202\/","token":"15.2\/IV\/72\/15.2-7202","metadata":false},{"id":73639,"structure_id":14681,"section_number":"15.2-7203","catch_line":"BVU Authority; operating name or names","url":"\/15.2-7203\/","token":"15.2\/IV\/72\/15.2-7203","metadata":false},{"id":65200,"structure_id":14681,"section_number":"15.2-7204","catch_line":"Divisions","url":"\/15.2-7204\/","token":"15.2\/IV\/72\/15.2-7204","metadata":false},{"id":64561,"structure_id":14681,"section_number":"15.2-7205","catch_line":"Board of Directors; membership","url":"\/15.2-7205\/","token":"15.2\/IV\/72\/15.2-7205","metadata":false},{"id":64567,"structure_id":14681,"section_number":"15.2-7206","catch_line":"Organization; compensation","url":"\/15.2-7206\/","token":"15.2\/IV\/72\/15.2-7206","metadata":false},{"id":62252,"structure_id":14681,"section_number":"15.2-7207","catch_line":"Powers generally","url":"\/15.2-7207\/","token":"15.2\/IV\/72\/15.2-7207","metadata":false},{"id":56948,"structure_id":14681,"section_number":"15.2-7208","catch_line":"Powers","url":"\/15.2-7208\/","token":"15.2\/IV\/72\/15.2-7208","metadata":false},{"id":86955,"structure_id":14681,"section_number":"15.2-7209","catch_line":"Authority deemed to be an MLEC","url":"\/15.2-7209\/","token":"15.2\/IV\/72\/15.2-7209","metadata":false},{"id":79237,"structure_id":14681,"section_number":"15.2-7210","catch_line":"Transfer of properties and debt","url":"\/15.2-7210\/","token":"15.2\/IV\/72\/15.2-7210","metadata":false},{"id":71108,"structure_id":14681,"section_number":"15.2-7211","catch_line":"Reports","url":"\/15.2-7211\/","token":"15.2\/IV\/72\/15.2-7211","metadata":false},{"id":66186,"structure_id":14681,"section_number":"15.2-7212","catch_line":"Procurement","url":"\/15.2-7212\/","token":"15.2\/IV\/72\/15.2-7212","metadata":false},{"id":56303,"structure_id":14681,"section_number":"15.2-7213","catch_line":"Deposit and investment of funds","url":"\/15.2-7213\/","token":"15.2\/IV\/72\/15.2-7213","metadata":false},{"id":85418,"structure_id":14681,"section_number":"15.2-7214","catch_line":"Authority to issue bonds","url":"\/15.2-7214\/","token":"15.2\/IV\/72\/15.2-7214","metadata":false},{"id":80847,"structure_id":14681,"section_number":"15.2-7215","catch_line":"Credit of Commonwealth and political subdivisions not pledged","url":"\/15.2-7215\/","token":"15.2\/IV\/72\/15.2-7215","metadata":false},{"id":60887,"structure_id":14681,"section_number":"15.2-7216","catch_line":"Directors and persons executing bonds not liable thereon","url":"\/15.2-7216\/","token":"15.2\/IV\/72\/15.2-7216","metadata":false},{"id":56980,"structure_id":14681,"section_number":"15.2-7217","catch_line":"Security for payment of bonds; default","url":"\/15.2-7217\/","token":"15.2\/IV\/72\/15.2-7217","metadata":false},{"id":60677,"structure_id":14681,"section_number":"15.2-7218","catch_line":"Bonds as legal investments","url":"\/15.2-7218\/","token":"15.2\/IV\/72\/15.2-7218","metadata":false},{"id":79805,"structure_id":14681,"section_number":"15.2-7219","catch_line":"Contracts concerning interest rates and investments","url":"\/15.2-7219\/","token":"15.2\/IV\/72\/15.2-7219","metadata":false},{"id":69914,"structure_id":14681,"section_number":"15.2-7220","catch_line":"Taxation","url":"\/15.2-7220\/","token":"15.2\/IV\/72\/15.2-7220","metadata":false},{"id":57303,"structure_id":14681,"section_number":"15.2-7221","catch_line":"Sovereign immunity","url":"\/15.2-7221\/","token":"15.2\/IV\/72\/15.2-7221","metadata":false},{"id":57090,"structure_id":14681,"section_number":"15.2-7222","catch_line":"Appropriation by political subdivision","url":"\/15.2-7222\/","token":"15.2\/IV\/72\/15.2-7222","metadata":false},{"id":66292,"structure_id":14681,"section_number":"15.2-7223","catch_line":"Contracts with political subdivisions","url":"\/15.2-7223\/","token":"15.2\/IV\/72\/15.2-7223","metadata":false},{"id":74807,"structure_id":14681,"section_number":"15.2-7224","catch_line":"Application of local ordinances, service charges, and taxes upon leaseholds","url":"\/15.2-7224\/","token":"15.2\/IV\/72\/15.2-7224","metadata":false},{"id":75879,"structure_id":14681,"section_number":"15.2-7225","catch_line":"Existing contracts, leases, franchises, etc., not impaired","url":"\/15.2-7225\/","token":"15.2\/IV\/72\/15.2-7225","metadata":false},{"id":84795,"structure_id":14681,"section_number":"15.2-7226","catch_line":"Liberal construction","url":"\/15.2-7226\/","token":"15.2\/IV\/72\/15.2-7226","metadata":false}],"previous_section":{"id":60677,"structure_id":14681,"section_number":"15.2-7218","catch_line":"Bonds as legal investments","url":"\/15.2-7218\/","token":"15.2\/IV\/72\/15.2-7218","metadata":false},"next_section":{"id":69914,"structure_id":14681,"section_number":"15.2-7220","catch_line":"Taxation","url":"\/15.2-7220\/","token":"15.2\/IV\/72\/15.2-7220","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-7219\/","history_text":"

This law was first created in 2010. The record of its establishment is cataloged in chapters 117<\/a> and 210<\/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":[{"id":65575,"section_number":"2.2-4500","catch_line":"Legal investments for public sinking funds","order_by":null,"url":"\/2.2-4500\/"}],"permalink":{"id":160687,"object_type":"law","relational_id":79805,"identifier":"15.2-7219","token":"15.2\/IV\/72\/15.2-7219","url":"\/15.2-7219\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/15.2-7219\/","token":"15.2\/IV\/72\/15.2-7219","dublin_core":{"Title":"Contracts concerning interest rates and investments","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-7219","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The Authority<\/span> may enter into any contract<\/span> that the Board of Directors<\/span> determines to be necessary or appropriate to place the obligation or investment of the Authority<\/span>, as represented by the bonds<\/span><\/span> or the investment of their proceeds, in whole or in part, on the interest rate, cash flow, or other basis desired by the Authority<\/span>, which contract<\/span> may include, without limitation, interest rate swap agreements, future contracts<\/span> and contracts<\/span> providing for payments based upon levels of, or changes in, interest rates. These contracts<\/span> or arrangements may be entered into by the Authority<\/span> in connection with, or incidental to, entering into or maintaining any (i) agreement that secures bonds<\/span><\/span> or (ii) investment, or contract<\/span> providing for investment, otherwise authorized by law<\/span>. These contracts<\/span> may contain such payment, security, default<\/span>, remedy, and other terms as determined by the Authority<\/span>. Any money set aside and pledged to secure payments of bonds<\/span><\/span> or any contracts<\/span> entered into pursuant to this section may be invested in accordance with Chapter 45 (\u00a7 2.2-4500<\/a> et seq.) of Title 2.2 and may be pledged to and used to service any of the contracts<\/span> or agreements entered into pursuant to this section.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCONTRACTS CONCERNING INTEREST RATES AND INVESTMENTS (\u00a7 15.2-7219)\n\nThe Authority may enter into any contract that the Board of Directors determines\nto be necessary or appropriate to place the obligation or investment of the\nAuthority, as represented by the bonds or the investment of their proceeds, in\nwhole or in part, on the interest rate, cash flow, or other basis desired by the\nAuthority, which contract may include, without limitation, interest rate swap\nagreements, future contracts and contracts providing for payments based upon\nlevels of, or changes in, interest rates. These contracts or arrangements may be\nentered into by the Authority in connection with, or incidental to, entering\ninto or maintaining any (i) agreement that secures bonds or (ii) investment, or\ncontract providing for investment, otherwise authorized by law. These contracts\nmay contain such payment, security, default, remedy, and other terms as\ndetermined by the Authority. Any money set aside and pledged to secure payments\nof bonds or any contracts entered into pursuant to this section may be invested\nin accordance with Chapter 45 (\u00a7 2.2-4500 et seq.) of Title 2.2 and may be\npledged to and used to service any of the contracts or agreements entered into\npursuant to this section.\n\nHISTORY: 2010, cc. 117, 210.","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}}