                                 CODE OF VIRGINIA

SAME; FOR WATER OR SEWER SYSTEMS, ETC (§ 15.2-5713)

An authority created under the provisions of this chapter is hereby authorized
to provide by resolution, at one time or from time to time, for the issuance of
revenue bonds of the authority for the purpose of paying the whole or any part
of the cost of any water system, sewer system, sewage disposal system, or
garbage and refuse collection and disposal system, or any combination of any
thereof and for improvement and maintenance of any such system. The principal of
and the interest on such bonds shall be payable solely from the funds herein
provided for such payment. The bonds of each issue shall be dated, shall bear
interest at such rate or rates as may be authorized by law, shall mature at such
time or times not exceeding twenty years from their date or dates, as may be
determined by the authority, and may be made redeemable before maturity, at the
option of the authority, at such price or prices and under such terms and
conditions as may be fixed by the authority prior to the issuance of the bonds.
		Revenue bonds issued under the provisions of this chapter shall not be deemed
to constitute a debt of the Commonwealth or of any incorporating or
participating locality, or a pledge of the faith and credit of the Commonwealth
or of any incorporating or participating locality.

HISTORY: Code 1950, § 15-714.11; 1954, c. 540; 1962, c. 623, § 15.1-1238;
1997, c. 587.