{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/33.2-1708.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/33.2-1708.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/33.2-1708.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/33.2-1708.html"}],"law_id":65580,"edition_id":1,"section_id":65580,"structure_id":13528,"section_number":"33.2-1708","catch_line":"Revenue bonds","history":"Code 1950, \u00a7 33-236; 1970, c. 322, \u00a7 33.1-276; 1988, cc. 844, 903; 1989, Sp. Sess., cc. 9, 11; 2000, cc. 1019, 1044; 2011, cc. 830, 868; 2014, c. 805; 2020, cc. 1230, 1275; 2025, c. 327.","full_text":"The Board may provide by resolution, at one time or from time to time, for the issuance of revenue bonds, notes, or other revenue obligations of the Commonwealth for the purpose of paying all or any part of the cost, as defined in \u00a7 33.2-1700, of any one or more projects, as defined in \u00a7 33.2-1700. The principal or purchase price of, and redemption premium, if any, and interest on such obligations shall be payable solely from the special funds herein provided for such payment. For the purposes of this section, &#8220;special funds&#8221; includes any funds established for Commonwealth of Virginia Toll Revenue Bonds, Commonwealth of Virginia Transportation Contract Revenue Bonds, Commonwealth of Virginia Transportation Revenue Bonds, Commonwealth of Virginia Interstate 81 Program Revenue Bonds, Commonwealth of Virginia Federal Highway Reimbursement Anticipation Notes, or Commonwealth of Virginia Federal Transportation Grant Anticipation Revenue Notes, Commonwealth of Virginia Passenger Rail Facilities Bonds, or Commonwealth of Virginia Special Structures Program Revenue Bonds.","order_by":null,"text":{"0":{"id":238396,"text":"The Board may provide by resolution, at one time or from time to time, for the issuance of revenue bonds, notes, or other revenue obligations of the Commonwealth for the purpose of paying all or any part of the cost, as defined in \u00a7 33.2-1700, of any one or more projects, as defined in \u00a7 33.2-1700. The principal or purchase price of, and redemption premium, if any, and interest on such obligations shall be payable solely from the special funds herein provided for such payment. For the purposes of this section, &#8220;special funds&#8221; includes any funds established for Commonwealth of Virginia Toll Revenue Bonds, Commonwealth of Virginia Transportation Contract Revenue Bonds, Commonwealth of Virginia Transportation Revenue Bonds, Commonwealth of Virginia Interstate 81 Program Revenue Bonds, Commonwealth of Virginia Federal Highway Reimbursement Anticipation Notes, or Commonwealth of Virginia Federal Transportation Grant Anticipation Revenue Notes, Commonwealth of Virginia Passenger Rail Facilities Bonds, or Commonwealth of Virginia Special Structures Program Revenue Bonds.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13528,"edition_id":1,"name":"Transportation Development and Revenue Bond Act","identifier":"17","label":"chapter","depth":3,"order_by":1,"parent_id":13146,"metadata":{},"date_created":"2026-06-26 03:45:07","date_modified":"2026-06-26 03:45:07","permalink":{"id":206695,"object_type":"structure","relational_id":13528,"identifier":"17","token":"33.2\/III\/17","url":"\/33.2\/III\/17\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13146,"edition_id":1,"name":"Transportation Funding and Development","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12806,"metadata":{},"date_created":"2026-06-26 03:44:21","date_modified":"2026-06-26 03:44:21","permalink":{"id":206483,"object_type":"structure","relational_id":13146,"identifier":"III","token":"33.2\/III","url":"\/33.2\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12806,"edition_id":1,"name":"Highways and Other Surface Transportation Systems","identifier":"33.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:54","date_modified":"2026-06-26 03:43:54","permalink":{"id":204785,"object_type":"structure","relational_id":12806,"identifier":"33.2","token":"33.2","url":"\/33.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":63551,"structure_id":13528,"section_number":"33.2-1700","catch_line":"Definitions","url":"\/33.2-1700\/","token":"33.2\/III\/17\/33.2-1700","metadata":false},{"id":84701,"structure_id":13528,"section_number":"33.2-1701","catch_line":"General powers of Commonwealth Transportation Board","url":"\/33.2-1701\/","token":"33.2\/III\/17\/33.2-1701","metadata":false},{"id":80449,"structure_id":13528,"section_number":"33.2-1702","catch_line":"Acquisition and construction of projects","url":"\/33.2-1702\/","token":"33.2\/III\/17\/33.2-1702","metadata":false},{"id":86114,"structure_id":13528,"section_number":"33.2-1703","catch_line":"Purchase of projects","url":"\/33.2-1703\/","token":"33.2\/III\/17\/33.2-1703","metadata":false},{"id":60370,"structure_id":13528,"section_number":"33.2-1704","catch_line":"Condemnation of projects and property","url":"\/33.2-1704\/","token":"33.2\/III\/17\/33.2-1704","metadata":false},{"id":76541,"structure_id":13528,"section_number":"33.2-1705","catch_line":"Improvement of projects acquired","url":"\/33.2-1705\/","token":"33.2\/III\/17\/33.2-1705","metadata":false},{"id":55097,"structure_id":13528,"section_number":"33.2-1706","catch_line":"Construction of projects","url":"\/33.2-1706\/","token":"33.2\/III\/17\/33.2-1706","metadata":false},{"id":55698,"structure_id":13528,"section_number":"33.2-1707","catch_line":"Highway connections","url":"\/33.2-1707\/","token":"33.2\/III\/17\/33.2-1707","metadata":false},{"id":65580,"structure_id":13528,"section_number":"33.2-1708","catch_line":"Revenue bonds","url":"\/33.2-1708\/","token":"33.2\/III\/17\/33.2-1708","metadata":false},{"id":82704,"structure_id":13528,"section_number":"33.2-1709","catch_line":"Credit of Commonwealth not pledged","url":"\/33.2-1709\/","token":"33.2\/III\/17\/33.2-1709","metadata":false},{"id":54493,"structure_id":13528,"section_number":"33.2-1710","catch_line":"Form and terms of bonds","url":"\/33.2-1710\/","token":"33.2\/III\/17\/33.2-1710","metadata":false},{"id":69964,"structure_id":13528,"section_number":"33.2-1711","catch_line":"No other prerequisites to issue of bonds","url":"\/33.2-1711\/","token":"33.2\/III\/17\/33.2-1711","metadata":false},{"id":57059,"structure_id":13528,"section_number":"33.2-1712","catch_line":"Limitations and approvals for certain revenue bonds","url":"\/33.2-1712\/","token":"33.2\/III\/17\/33.2-1712","metadata":false},{"id":57433,"structure_id":13528,"section_number":"33.2-1713","catch_line":"Sale of bonds; bonds as legal investments","url":"\/33.2-1713\/","token":"33.2\/III\/17\/33.2-1713","metadata":false},{"id":58119,"structure_id":13528,"section_number":"33.2-1714","catch_line":"Use of proceeds of sale of bonds","url":"\/33.2-1714\/","token":"33.2\/III\/17\/33.2-1714","metadata":false},{"id":82268,"structure_id":13528,"section_number":"33.2-1715","catch_line":"Financing two or more projects together","url":"\/33.2-1715\/","token":"33.2\/III\/17\/33.2-1715","metadata":false},{"id":73006,"structure_id":13528,"section_number":"33.2-1716","catch_line":"All moneys to be trust funds","url":"\/33.2-1716\/","token":"33.2\/III\/17\/33.2-1716","metadata":false},{"id":73553,"structure_id":13528,"section_number":"33.2-1717","catch_line":"Trust indenture","url":"\/33.2-1717\/","token":"33.2\/III\/17\/33.2-1717","metadata":false},{"id":80373,"structure_id":13528,"section_number":"33.2-1718","catch_line":"Revenues","url":"\/33.2-1718\/","token":"33.2\/III\/17\/33.2-1718","metadata":false},{"id":74535,"structure_id":13528,"section_number":"33.2-1719","catch_line":"Reserve funds and appropriations","url":"\/33.2-1719\/","token":"33.2\/III\/17\/33.2-1719","metadata":false},{"id":85790,"structure_id":13528,"section_number":"33.2-1720","catch_line":"Sinking fund","url":"\/33.2-1720\/","token":"33.2\/III\/17\/33.2-1720","metadata":false},{"id":63337,"structure_id":13528,"section_number":"33.2-1721","catch_line":" Cessation of tolls","url":"\/33.2-1721\/","token":"33.2\/III\/17\/33.2-1721","metadata":false},{"id":86949,"structure_id":13528,"section_number":"33.2-1722","catch_line":"Use of certain funds by Board","url":"\/33.2-1722\/","token":"33.2\/III\/17\/33.2-1722","metadata":false},{"id":83568,"structure_id":13528,"section_number":"33.2-1723","catch_line":"Contributions","url":"\/33.2-1723\/","token":"33.2\/III\/17\/33.2-1723","metadata":false},{"id":83320,"structure_id":13528,"section_number":"33.2-1724","catch_line":"Remedies of bondholders and trustee","url":"\/33.2-1724\/","token":"33.2\/III\/17\/33.2-1724","metadata":false},{"id":78310,"structure_id":13528,"section_number":"33.2-1725","catch_line":"Competing bridges, ferries, and tunnels","url":"\/33.2-1725\/","token":"33.2\/III\/17\/33.2-1725","metadata":false},{"id":60374,"structure_id":13528,"section_number":"33.2-1726","catch_line":"Incidental powers of the Board","url":"\/33.2-1726\/","token":"33.2\/III\/17\/33.2-1726","metadata":false},{"id":60094,"structure_id":13528,"section_number":"33.2-1727","catch_line":"Revenue refunding bonds and revenue bonds for combined purposes","url":"\/33.2-1727\/","token":"33.2\/III\/17\/33.2-1727","metadata":false},{"id":54553,"structure_id":13528,"section_number":"33.2-1728","catch_line":"Chapter provides alternative method","url":"\/33.2-1728\/","token":"33.2\/III\/17\/33.2-1728","metadata":false},{"id":72521,"structure_id":13528,"section_number":"33.2-1729","catch_line":"Chapter liberally construed","url":"\/33.2-1729\/","token":"33.2\/III\/17\/33.2-1729","metadata":false}],"previous_section":{"id":55698,"structure_id":13528,"section_number":"33.2-1707","catch_line":"Highway connections","url":"\/33.2-1707\/","token":"33.2\/III\/17\/33.2-1707","metadata":false},"next_section":{"id":82704,"structure_id":13528,"section_number":"33.2-1709","catch_line":"Credit of Commonwealth not pledged","url":"\/33.2-1709\/","token":"33.2\/III\/17\/33.2-1709","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/33.2-1708\/","history_text":"<p>The record of this law\u2019s original creation isn\u2019t available online. It has been modified 7 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 1970, chapter 322; in 1988, chapters 844 and 903; in 2000, chapters <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?001+ful+CHAP1019\">1019<\/a> and <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?001+ful+CHAP1044\">1044<\/a>; in 2011, chapters <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?111+ful+CHAP0830\">830<\/a> and <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?111+ful+CHAP0868\">868<\/a>; in 2014, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?141+ful+CHAP0805\">805<\/a>; in 2020, chapters <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?201+ful+CHAP1230\">1230<\/a> and <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?201+ful+CHAP1275\">1275<\/a>; in 2025, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?251+ful+CHAP0327\">327<\/a>.<\/p>","references":false,"refers_to":[{"id":63551,"section_number":"33.2-1700","catch_line":"Definitions","order_by":null,"url":"\/33.2-1700\/"}],"permalink":{"id":206729,"object_type":"law","relational_id":65580,"identifier":"33.2-1708","token":"33.2\/III\/17\/33.2-1708","url":"\/33.2-1708\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/33.2-1708\/","token":"33.2\/III\/17\/33.2-1708","dublin_core":{"Title":"Revenue bonds","Type":"Text","Format":"text\/html","Identifier":"\u00a7 33.2-1708","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>The <span class=\"dictionary\">Board<\/span> may provide by resolution, at one time or from time to time, for the issuance of revenue <span class=\"dictionary\">bonds<\/span>, notes, or other revenue obligations of the Commonwealth for the purpose of paying all or any part of the cost, as defined in \u00a7&nbsp;<a class=\"law\" title=\"Definitions\" href=\"\/33.2-1700\/\">33.2-1700<\/a>, of any one or more <span class=\"dictionary\">projects<\/span>, as defined in \u00a7&nbsp;<a class=\"law\" title=\"Definitions\" href=\"\/33.2-1700\/\">33.2-1700<\/a>. The principal or purchase price of, and <span class=\"dictionary\">redemption<\/span> premium, if any, and interest on such obligations shall be payable solely from the special funds herein provided for such payment. For the purposes of this section, &#8220;special funds&#8221; includes any funds established for Commonwealth of Virginia Toll Revenue <span class=\"dictionary\">Bonds<\/span>, Commonwealth of Virginia Transportation <span class=\"dictionary\">Contract<\/span> Revenue <span class=\"dictionary\">Bonds<\/span>, Commonwealth of Virginia Transportation Revenue <span class=\"dictionary\">Bonds<\/span>, Commonwealth of Virginia Interstate 81 Program Revenue <span class=\"dictionary\">Bonds<\/span>, Commonwealth of Virginia Federal <span class=\"dictionary\">Highway<\/span> Reimbursement Anticipation Notes, or Commonwealth of Virginia Federal Transportation Grant Anticipation Revenue Notes, Commonwealth of Virginia Passenger Rail Facilities <span class=\"dictionary\">Bonds<\/span>, or Commonwealth of Virginia Special Structures Program Revenue <span class=\"dictionary\">Bonds<\/span>.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nREVENUE BONDS (\u00a7 33.2-1708)\n\nThe Board may provide by resolution, at one time or from time to time, for the\nissuance of revenue bonds, notes, or other revenue obligations of the\nCommonwealth for the purpose of paying all or any part of the cost, as defined\nin \u00a7 33.2-1700, of any one or more projects, as defined in \u00a7 33.2-1700. The\nprincipal or purchase price of, and redemption premium, if any, and interest on\nsuch obligations shall be payable solely from the special funds herein provided\nfor such payment. For the purposes of this section, &#8220;special funds&#8221;\nincludes any funds established for Commonwealth of Virginia Toll Revenue Bonds,\nCommonwealth of Virginia Transportation Contract Revenue Bonds, Commonwealth of\nVirginia Transportation Revenue Bonds, Commonwealth of Virginia Interstate 81\nProgram Revenue Bonds, Commonwealth of Virginia Federal Highway Reimbursement\nAnticipation Notes, or Commonwealth of Virginia Federal Transportation Grant\nAnticipation Revenue Notes, Commonwealth of Virginia Passenger Rail Facilities\nBonds, or Commonwealth of Virginia Special Structures Program Revenue Bonds.\n\nHISTORY: Code 1950, \u00a7 33-236; 1970, c. 322, \u00a7 33.1-276; 1988, cc. 844, 903;\n1989, Sp. Sess., cc. 9, 11; 2000, cc. 1019, 1044; 2011, cc. 830, 868; 2014, c.\n805; 2020, cc. 1230, 1275; 2025, c. 327.","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}}