                                 CODE OF VIRGINIA

REFUNDING BONDS (§ 15.2-5419)

An authority created hereunder is hereby authorized to provide by resolution for
the issuance of revenue refunding bonds of the authority for the purpose of
refunding any revenue bonds then outstanding and issued under the provisions of
this chapter, whether or not such outstanding bonds have matured or are then
subject to redemption. Each such authority is further authorized to provide by
resolution for the issuance of a single issue of revenue bonds of the authority
for the combined purposes of (i) paying the cost of any project and (ii)
refunding the revenue bonds of the authority which have been issued under the
provisions of this chapter and are then outstanding, whether or not such
outstanding bonds have matured or are then subject to redemption. The issuance
of such bonds, the maturities and other details thereof, the rights and remedies
of the holders thereof, and the rights, powers, privileges, duties and
obligations of the authority with respect to the bonds, shall be governed by the
foregoing provisions of this chapter insofar as they are applicable.

HISTORY: 1979, c. 416, § 15.1-1622; 1997, c. 587.