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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>61309</law_id><section_number>33.2-3502</section_number><catch_line>Authority to issue 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="35">Commuter Rail Operating and Capital Fund</unit></structure><text>
						<section><p>The transportation districts described in subsection B of &#xA7;&#xA0;<a class="law" title="Commuter Rail Operating and Capital Fund" href="/33.2-3500/">33.2-3500</a> may <span class="dictionary">issue</span> <span class="dictionary">bonds</span> and other <span class="dictionary">evidences</span> of debt as may be authorized by this section or other <span class="dictionary">law</span>. The provisions of Article 5 (&#xA7;&#xA0;<a class="law" title="Authority to issue bonds and other obligations" href="/33.2-1920/">33.2-1920</a> et seq.) of Chapter 19 shall apply, <span class="dictionary">mutatis mutandis</span>, to the issuance of such <span class="dictionary">bonds</span> or other debt. The Authority may <span class="dictionary">issue</span> <span class="dictionary">bonds</span> or other debt in such amounts as it deems appropriate. The <span class="dictionary">bonds</span> may be supported by any funds available in the Fund, provided that the total amount of debt service for all outstanding <span class="dictionary">bonds</span> may not exceed 66 percent of the revenues dedicated to the Fund pursuant to &#xA7;&#xA0;<a class="law" title="Disposition of tax revenues" href="/58.1-2299.20/">58.1-2299.20</a>.</p></section></text><history>2018, cc. 854, 856.</history><metadata></metadata></law>
