                                 CODE OF VIRGINIA

DATING; RATE OF INTEREST; MATURITY; DENOMINATION; PLACE OF PAYMENT (§
15.2-2612)

The bonds of a locality may be dated, may mature at such time or times not
exceeding forty years from their date or dates, may be subject to redemption or
repurchase, at such price or prices and under such terms and conditions, and may
contain such other provisions, all as determined before their issuance by the
governing body or in such manner as the governing body may provide. The bonds
may bear interest payable at such time or times and at such rate or rates as
determined by the governing body or in such manner as the governing body may
provide, including the determination by reference to indices or formulas or by
agents designated by the governing body under guidelines established by it. The
governing body may fix the denomination or denominations of the bonds and the
place or places of payment.

HISTORY: Code 1950, § 15-666.41; 1958, c. 640; 1962, cc. 496, 623, § 15.1-200;
1984, c. 451; 1991, c. 668, § 15.1-227.14; 1997, c. 587.