{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/33.2-2903.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/33.2-2903.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/33.2-2903.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/33.2-2903.html"}],"law_id":55181,"edition_id":1,"section_id":55181,"structure_id":13979,"section_number":"33.2-2903","catch_line":"Issuance of revenue bonds","history":"2009, c. 471, \u00a7 15.2-7003; 2014, c. 805.","full_text":"The Authority is hereby authorized to provide by resolution for the issuance of revenue bonds of the Authority for the purpose of paying all or any part of the cost of Authority facilities or any project or portion of such facilities. The principal of and interest on such bonds shall be payable solely from the revenues pledged for such payment. The bonds of each issue or series shall be dated, shall bear interest at such rate or rates not exceeding six percent per year, shall mature at such time or times not exceeding 50 years from the date or dates thereof, as may be determined by the Authority, and may contain provisions reserving the right of the Authority to redeem such bonds before maturity at such price or prices and upon such terms and conditions as may be fixed by the Authority in the resolution authorizing such bonds. Such bonds may be issued in coupon form, registered form, or both as prescribed by the Authority, and provisions may be made for the registration of coupon bonds as to principal only or as to both principal and interest and for the reconversion of registered bonds into coupon bonds. Such bonds may be issued in any denomination and may be made payable at any bank or trust company within or without the Commonwealth as the Authority may determine. Such bonds and the coupons attached to coupon bonds shall be signed in such manner either manually or by facsimile signature, as shall be determined by the Authority, and sealed with the seal of the Authority or a facsimile thereof. In case any officer whose signature or facsimile thereof shall appear on any bond or coupon shall cease to be such officer before the delivery of such bonds, such signature or such facsimile signature shall nevertheless be valid and sufficient for all purposes, the same as if such officer or officers had remained in office until the delivery thereof. The Authority may sell such bonds in such manner either at public or private sale and for such price or prices as the Authority may determine, but no such sale shall be made at a price so low as to require the payment of interest on the money received therefor at more than six percent per year, computed with relation to the absolute maturity of the bonds in accordance with standard tables of bond values, excluding from such computation the amount of any premium to be paid on the redemption of any bond prior to maturity. Prior to the preparation of definitive bonds, the Authority may, under like restrictions, issue interim receipts or temporary bonds, with or without coupons, exchangeable for definitive bonds when such bonds shall have been executed and are available for delivery. The Authority may also provide for the replacement of any bond that has become mutilated, destroyed, or lost.","order_by":null,"text":{"0":{"id":202287,"text":"The Authority is hereby authorized to provide by resolution for the issuance of revenue bonds of the Authority for the purpose of paying all or any part of the cost of Authority facilities or any project or portion of such facilities. The principal of and interest on such bonds shall be payable solely from the revenues pledged for such payment. The bonds of each issue or series shall be dated, shall bear interest at such rate or rates not exceeding six percent per year, shall mature at such time or times not exceeding 50 years from the date or dates thereof, as may be determined by the Authority, and may contain provisions reserving the right of the Authority to redeem such bonds before maturity at such price or prices and upon such terms and conditions as may be fixed by the Authority in the resolution authorizing such bonds. Such bonds may be issued in coupon form, registered form, or both as prescribed by the Authority, and provisions may be made for the registration of coupon bonds as to principal only or as to both principal and interest and for the reconversion of registered bonds into coupon bonds. Such bonds may be issued in any denomination and may be made payable at any bank or trust company within or without the Commonwealth as the Authority may determine. Such bonds and the coupons attached to coupon bonds shall be signed in such manner either manually or by facsimile signature, as shall be determined by the Authority, and sealed with the seal of the Authority or a facsimile thereof. In case any officer whose signature or facsimile thereof shall appear on any bond or coupon shall cease to be such officer before the delivery of such bonds, such signature or such facsimile signature shall nevertheless be valid and sufficient for all purposes, the same as if such officer or officers had remained in office until the delivery thereof. The Authority may sell such bonds in such manner either at public or private sale and for such price or prices as the Authority may determine, but no such sale shall be made at a price so low as to require the payment of interest on the money received therefor at more than six percent per year, computed with relation to the absolute maturity of the bonds in accordance with standard tables of bond values, excluding from such computation the amount of any premium to be paid on the redemption of any bond prior to maturity. Prior to the preparation of definitive bonds, the Authority may, under like restrictions, issue interim receipts or temporary bonds, with or without coupons, exchangeable for definitive bonds when such bonds shall have been executed and are available for delivery. The Authority may also provide for the replacement of any bond that has become mutilated, destroyed, or lost.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13979,"edition_id":1,"name":"Richmond Metropolitan Transportation Authority","identifier":"29","label":"chapter","depth":3,"order_by":1,"parent_id":12807,"metadata":{},"date_created":"2026-06-26 03:46:29","date_modified":"2026-06-26 03:46:29","permalink":{"id":207599,"object_type":"structure","relational_id":13979,"identifier":"29","token":"33.2\/IV\/29","url":"\/33.2\/IV\/29\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12807,"edition_id":1,"name":"Local and Regional Transportation","identifier":"IV","label":"subtitle","depth":2,"order_by":1,"parent_id":12806,"metadata":{},"date_created":"2026-06-26 03:43:54","date_modified":"2026-06-26 03:43:54","permalink":{"id":206943,"object_type":"structure","relational_id":12807,"identifier":"IV","token":"33.2\/IV","url":"\/33.2\/IV\/","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":55318,"structure_id":13979,"section_number":"33.2-2900","catch_line":"Definitions","url":"\/33.2-2900\/","token":"33.2\/IV\/29\/33.2-2900","metadata":false},{"id":66763,"structure_id":13979,"section_number":"33.2-2901","catch_line":"Creation of the Richmond Metropolitan Transportation Authority","url":"\/33.2-2901\/","token":"33.2\/IV\/29\/33.2-2901","metadata":false},{"id":55049,"structure_id":13979,"section_number":"33.2-2902","catch_line":"Powers of the Richmond Metropolitan Transportation Authority","url":"\/33.2-2902\/","token":"33.2\/IV\/29\/33.2-2902","metadata":false},{"id":55181,"structure_id":13979,"section_number":"33.2-2903","catch_line":"Issuance of revenue bonds","url":"\/33.2-2903\/","token":"33.2\/IV\/29\/33.2-2903","metadata":false},{"id":61770,"structure_id":13979,"section_number":"33.2-2904","catch_line":"Rates and charges","url":"\/33.2-2904\/","token":"33.2\/IV\/29\/33.2-2904","metadata":false},{"id":75031,"structure_id":13979,"section_number":"33.2-2905","catch_line":"Use of state highway maintenance and construction funds for Authority facilities","url":"\/33.2-2905\/","token":"33.2\/IV\/29\/33.2-2905","metadata":false},{"id":85918,"structure_id":13979,"section_number":"33.2-2906","catch_line":"Refunding bonds","url":"\/33.2-2906\/","token":"33.2\/IV\/29\/33.2-2906","metadata":false},{"id":56386,"structure_id":13979,"section_number":"33.2-2907","catch_line":"Trust agreement","url":"\/33.2-2907\/","token":"33.2\/IV\/29\/33.2-2907","metadata":false},{"id":76945,"structure_id":13979,"section_number":"33.2-2908","catch_line":"Covenants to secure bonds","url":"\/33.2-2908\/","token":"33.2\/IV\/29\/33.2-2908","metadata":false},{"id":57645,"structure_id":13979,"section_number":"33.2-2909","catch_line":"Revenue bonds eligible for investment","url":"\/33.2-2909\/","token":"33.2\/IV\/29\/33.2-2909","metadata":false},{"id":71137,"structure_id":13979,"section_number":"33.2-2910","catch_line":"Authority obligations to be negotiable instruments; enforcement of bonds","url":"\/33.2-2910\/","token":"33.2\/IV\/29\/33.2-2910","metadata":false},{"id":77368,"structure_id":13979,"section_number":"33.2-2911","catch_line":"Exemption from taxation","url":"\/33.2-2911\/","token":"33.2\/IV\/29\/33.2-2911","metadata":false},{"id":86123,"structure_id":13979,"section_number":"33.2-2912","catch_line":"General powers of City of Richmond and Counties of Henrico and Chesterfield","url":"\/33.2-2912\/","token":"33.2\/IV\/29\/33.2-2912","metadata":false},{"id":67619,"structure_id":13979,"section_number":"33.2-2913","catch_line":"Powers of City of Richmond and Counties of Henrico and Chesterfield with respect to revenue bonds issued by the Authority","url":"\/33.2-2913\/","token":"33.2\/IV\/29\/33.2-2913","metadata":false},{"id":74847,"structure_id":13979,"section_number":"33.2-2914","catch_line":"Powers of the Commonwealth Transportation Board","url":"\/33.2-2914\/","token":"33.2\/IV\/29\/33.2-2914","metadata":false},{"id":71495,"structure_id":13979,"section_number":"33.2-2915","catch_line":"Acquisition of property","url":"\/33.2-2915\/","token":"33.2\/IV\/29\/33.2-2915","metadata":false},{"id":75436,"structure_id":13979,"section_number":"33.2-2916","catch_line":"Transfer to City of Richmond","url":"\/33.2-2916\/","token":"33.2\/IV\/29\/33.2-2916","metadata":false},{"id":74886,"structure_id":13979,"section_number":"33.2-2917","catch_line":"Miscellaneous","url":"\/33.2-2917\/","token":"33.2\/IV\/29\/33.2-2917","metadata":false},{"id":75812,"structure_id":13979,"section_number":"33.2-2918","catch_line":"Approval by Commonwealth Transportation Board","url":"\/33.2-2918\/","token":"33.2\/IV\/29\/33.2-2918","metadata":false},{"id":64414,"structure_id":13979,"section_number":"33.2-2919","catch_line":"Liberal construction","url":"\/33.2-2919\/","token":"33.2\/IV\/29\/33.2-2919","metadata":false},{"id":78932,"structure_id":13979,"section_number":"33.2-2920","catch_line":"Repealed","url":"\/33.2-2920\/","token":"33.2\/IV\/29\/33.2-2920","metadata":false},{"id":78026,"structure_id":13979,"section_number":"33.2-2921","catch_line":"Inconsistent laws inapplicable","url":"\/33.2-2921\/","token":"33.2\/IV\/29\/33.2-2921","metadata":false}],"previous_section":{"id":55049,"structure_id":13979,"section_number":"33.2-2902","catch_line":"Powers of the Richmond Metropolitan Transportation Authority","url":"\/33.2-2902\/","token":"33.2\/IV\/29\/33.2-2902","metadata":false},"next_section":{"id":61770,"structure_id":13979,"section_number":"33.2-2904","catch_line":"Rates and charges","url":"\/33.2-2904\/","token":"33.2\/IV\/29\/33.2-2904","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/33.2-2903\/","history_text":"

This law was first created in 2009. The record of its establishment is cataloged in chapter 471<\/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. It has been modified 1 time. 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. That modification is as follows: in 2014, chapter 805<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":207613,"object_type":"law","relational_id":55181,"identifier":"33.2-2903","token":"33.2\/IV\/29\/33.2-2903","url":"\/33.2-2903\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/33.2-2903\/","token":"33.2\/IV\/29\/33.2-2903","dublin_core":{"Title":"Issuance of revenue bonds","Type":"Text","Format":"text\/html","Identifier":"\u00a7 33.2-2903","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The Authority<\/span> is hereby authorized to provide by resolution for the issuance of revenue bonds<\/span> of the Authority<\/span> for the purpose of paying all or any part of the cost of Authority<\/span> facilities or any project<\/span> or portion of such facilities. The principal of and interest on such bonds shall be payable solely from the revenues<\/span> pledged for such payment. The bonds of each issue<\/span> or series shall be dated, shall bear interest at such rate or rates not exceeding six percent per year, shall mature at such time or times not exceeding 50 years from the date or dates thereof, as may be determined by the Authority<\/span>, and may contain provisions reserving the right of the Authority<\/span> to redeem such bonds before maturity at such price or prices and upon such terms and conditions as may be fixed by the Authority<\/span> in the resolution authorizing such bonds. Such bonds may be issued in coupon form, registered form, or both as prescribed by the Authority<\/span>, and provisions may be made for the registration of coupon bonds as to principal only or as to both principal and interest and for the reconversion of registered bonds into coupon bonds. Such bonds may be issued in any denomination and may be made payable at any bank or trust company within or without the Commonwealth as the Authority<\/span> may determine. Such bonds and the coupons attached to coupon bonds shall be signed in such manner either manually or by facsimile signature, as shall be determined by the Authority<\/span>, and sealed<\/span> with the seal of the Authority<\/span> or a facsimile thereof. In case any officer whose signature or facsimile thereof shall appear on any bond<\/span> or coupon shall cease to be such officer before the delivery of such bonds, such signature or such facsimile signature shall nevertheless be valid and sufficient for all purposes, the same as if such officer or officers had remained in office until the delivery thereof. The Authority<\/span> may sell such bonds in such manner either at public or private sale and for such price or prices as the Authority<\/span> may determine, but no such sale shall be made at a price so low as to require the payment of interest on the money received therefor at more than six percent per year, computed with relation to the absolute maturity of the bonds in accordance with standard tables of bond<\/span> values, excluding from such computation the amount of any premium to be paid on the redemption<\/span> of any bond<\/span> prior to maturity. Prior to the preparation of definitive bonds, the Authority<\/span> may, under like restrictions, issue<\/span> interim receipts or temporary bonds, with or without coupons, exchangeable for definitive bonds when such bonds shall have been executed and are available for delivery. The Authority<\/span> may also provide for the replacement of any bond<\/span> that has become mutilated, destroyed, or lost.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nISSUANCE OF REVENUE BONDS (\u00a7 33.2-2903)\n\nThe Authority is hereby authorized to provide by resolution for the issuance of\nrevenue bonds of the Authority for the purpose of paying all or any part of the\ncost of Authority facilities or any project or portion of such facilities. The\nprincipal of and interest on such bonds shall be payable solely from the\nrevenues pledged for such payment. The bonds of each issue or series shall be\ndated, shall bear interest at such rate or rates not exceeding six percent per\nyear, shall mature at such time or times not exceeding 50 years from the date or\ndates thereof, as may be determined by the Authority, and may contain provisions\nreserving the right of the Authority to redeem such bonds before maturity at\nsuch price or prices and upon such terms and conditions as may be fixed by the\nAuthority in the resolution authorizing such bonds. Such bonds may be issued in\ncoupon form, registered form, or both as prescribed by the Authority, and\nprovisions may be made for the registration of coupon bonds as to principal only\nor as to both principal and interest and for the reconversion of registered\nbonds into coupon bonds. Such bonds may be issued in any denomination and may be\nmade payable at any bank or trust company within or without the Commonwealth as\nthe Authority may determine. Such bonds and the coupons attached to coupon bonds\nshall be signed in such manner either manually or by facsimile signature, as\nshall be determined by the Authority, and sealed with the seal of the Authority\nor a facsimile thereof. In case any officer whose signature or facsimile thereof\nshall appear on any bond or coupon shall cease to be such officer before the\ndelivery of such bonds, such signature or such facsimile signature shall\nnevertheless be valid and sufficient for all purposes, the same as if such\nofficer or officers had remained in office until the delivery thereof. The\nAuthority may sell such bonds in such manner either at public or private sale\nand for such price or prices as the Authority may determine, but no such sale\nshall be made at a price so low as to require the payment of interest on the\nmoney received therefor at more than six percent per year, computed with\nrelation to the absolute maturity of the bonds in accordance with standard\ntables of bond values, excluding from such computation the amount of any premium\nto be paid on the redemption of any bond prior to maturity. Prior to the\npreparation of definitive bonds, the Authority may, under like restrictions,\nissue interim receipts or temporary bonds, with or without coupons, exchangeable\nfor definitive bonds when such bonds shall have been executed and are available\nfor delivery. The Authority may also provide for the replacement of any bond\nthat has become mutilated, destroyed, or lost.\n\nHISTORY: 2009, c. 471, \u00a7 15.2-7003; 2014, c. 805.","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}}