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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>71517</law_id><section_number>62.1-206</section_number><catch_line>Sources of payment and security for bonds and credit enhancements</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="62.1">Waters of the State, Ports and Harbors</unit><unit label="chapter" level="2" order_by="1" identifier="21">Virginia Resources Authority</unit></structure><text>
						<section><p>The <span class="dictionary">Authority</span> shall have the power to pledge any revenue or funds of or under the control of the <span class="dictionary">Authority</span> to the payment of its <span class="dictionary"><span class="dictionary">bonds</span></span> and <span class="dictionary">credit enhancements</span>, subject only to any prior agreements with the holders of particular <span class="dictionary"><span class="dictionary">bonds</span></span> or the beneficiaries of particular <span class="dictionary">credit enhancements</span> pledging money or revenue. <span class="dictionary"><span class="dictionary">Bonds</span></span> or <span class="dictionary">credit enhancements</span> issued by the <span class="dictionary">Authority</span> may be secured by a pledge of any local obligation owned by the <span class="dictionary">Authority</span>, any grant, contribution or guaranty from the United States of America, the Commonwealth or any corporation, association, institution or person, any other property or <span class="dictionary">assets</span> of or under the control of the <span class="dictionary">Authority</span>, or a pledge of any money, income or revenue of the <span class="dictionary">Authority</span> from any source.</p></section></text><history>1984, c. 699; 1985, c. 67; 1986, c. 415; 1998, c. 399.</history><metadata></metadata></law>
