                                 CODE OF VIRGINIA

CONTRACTS CONCERNING INTEREST RATES AND INVESTMENTS (§ 15.2-7219)

The Authority may enter into any contract that the Board of Directors determines
to be necessary or appropriate to place the obligation or investment of the
Authority, as represented by the bonds or the investment of their proceeds, in
whole or in part, on the interest rate, cash flow, or other basis desired by the
Authority, which contract may include, without limitation, interest rate swap
agreements, future contracts and contracts providing for payments based upon
levels of, or changes in, interest rates. These contracts or arrangements may be
entered into by the Authority in connection with, or incidental to, entering
into or maintaining any (i) agreement that secures bonds or (ii) investment, or
contract providing for investment, otherwise authorized by law. These contracts
may contain such payment, security, default, remedy, and other terms as
determined by the Authority. Any money set aside and pledged to secure payments
of bonds or any contracts entered into pursuant to this section may be invested
in accordance with Chapter 45 (§ 2.2-4500 et seq.) of Title 2.2 and may be
pledged to and used to service any of the contracts or agreements entered into
pursuant to this section.

HISTORY: 2010, cc. 117, 210.