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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>71137</law_id><section_number>33.2-2910</section_number><catch_line>Authority obligations to be negotiable instruments; enforcement of bonds</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="33.2">Highways and Other Surface Transportation Systems</unit><unit label="subtitle" level="2" order_by="1" identifier="IV">Local and Regional Transportation</unit><unit label="chapter" level="3" order_by="1" identifier="29">Richmond Metropolitan Transportation Authority</unit></structure><text>
						<section><p>Notwithstanding the provisions of this chapter, or any provision of <span class="dictionary">law</span>, any recital in any <span class="dictionary">bond</span>, any interim receipt, or any other obligation issued under the provisions of this chapter, all such bonds, interim receipts, or other obligations shall be deemed to be negotiable instruments under the <span class="dictionary">laws</span> of the Commonwealth. The provisions of this chapter, and of any resolution or indenture providing for the issuance and security of any <span class="dictionary">revenue bonds</span>, interim receipts, or other obligations issued pursuant to this chapter, shall constitute a <span class="dictionary">contract</span> with the holder of such <span class="dictionary">revenue bonds</span>, interim receipts, or other obligations, and the agreements and covenants of the <span class="dictionary">Authority</span> under this chapter and under such resolution, resolutions, or indentures shall be enforceable by any holder of <span class="dictionary">revenue bonds</span>, interim receipts, or other obligations issued under the provisions of this chapter and any representative of such holder, and any trustee appointed under the <span class="dictionary">bond</span> resolution and authorized to do so, may by suit, action, <span class="dictionary">injunction</span>, mandamus, or other proceeding issued by a <span class="dictionary">court</span> of competent <span class="dictionary">jurisdiction</span> enforce all rights of such holders under the <span class="dictionary">laws</span> of the Commonwealth or granted by this chapter and in any such <span class="dictionary">bond</span> resolution or indenture and may compel performance of all duties required to be performed by this chapter and by such <span class="dictionary">bond</span> resolutions or indenture by the <span class="dictionary">Authority</span> or by any officer or agent thereof, including the fixing, charging, and collecting of fees, tolls, rents, rates, and other charges for the use of the <span class="dictionary">Authority</span> facilities.</p></section></text><history>2009, c. 471, &#xA7; 15.2-7010; 2014, c. 805.</history><metadata></metadata></law>
