                                 CODE OF VIRGINIA

PROVISIONS TO SECURE PAYMENT OF BONDS (§ 15.2-5209)

Any commission resolution authorizing the issuance of any bonds may contain
provisions, which shall be a part of the contract with the holders of the bonds,
(i) pledging any or all revenues of the hospital or health center to secure the
payment of the interest on such bonds and to create a sinking fund to retire the
principal thereof at maturity; (ii) providing for the granting of a lien on, or
the creation of a security interest in, any property, real or personal, of the
commission as security for the payment of the principal of, and interest on,
such bonds and the due and punctual performance of any agreements made in
connection therewith; (iii) providing for such schedule of fees and charges as
will produce funds sufficient to pay operating costs and debt service until such
bonds are retired; and (iv) prescribing the rights, obligations, powers and
duties of the commission, the trustee under any trust indenture under which the
bonds are issued, and the bondholders, in connection with or pertaining to such
bonds.

HISTORY: Code 1950, § 32-283; 1979, c. 719, § 15.1-1523; 1994, c. 759; 1997,
c. 587.