                                 CODE OF VIRGINIA

EXISTING BONDS (§ 23.1-2424)

The Authority may assume or agree to make payments in amounts sufficient for the
University to pay some or all of the hospital obligations incurred under
resolutions previously adopted by the University with respect to the hospital
facilities and may issue bonds to refund bonds issued under such resolutions or
refinance such payment obligations. If the Authority assumes all hospital
obligations under any such bond resolution and operates substantially all of the
hospital facilities financed or refinanced by such bond resolution, the
University, State Treasurer, Virginia Public Building Authority, and Virginia
College Building Authority shall take such steps as are appropriate to provide
for the substitution of the Authority for the University under such resolution
and transfer to the Authority any funds payable to the University under the
terms of such resolution.

HISTORY: 1996, cc. 905, 1046, § 23-50.16:31; 2016, c. 588.