                                 CODE OF VIRGINIA

REVENUE REFUNDING BONDS; BONDS FOR REFUNDING AND FOR COST OF ADDITIONAL PROJECTS
(§ 2.2-2270)

The Authority may provide for the issuance of revenue refunding bonds of the
Authority for the purpose of refunding any obligations then outstanding which
have been issued under the provisions of this article or by other state and
local authorities or political subdivisions of the Commonwealth where such
obligations are secured by a lease or other payment agreement with the
Commonwealth, including the payment of any redemption premium thereon and any
interest accrued or to accrue to the date of redemption of the obligations, and,
if deemed advisable by the Authority, for the additional purpose of constructing
improvements, extensions, or enlargements of the project in connection with
which the obligations to be refunded have been issued. The Authority may provide
by resolution for the issuance of its revenue obligations for the combined
purpose of (i) refunding any obligations then outstanding that have been issued
under the provisions of this article or by other state and local authorities or
political subdivisions of the Commonwealth where such obligations are secured by
a lease or other payment agreement with the Commonwealth, including the payment
of any redemption premium thereon and any interest accrued or to accrue to the
date of redemption of such obligations, and (ii) paying all or any part of the
cost of any additional project or any portion thereof. The issuance of the
bonds, the maturities and other details thereof, the rights of the holders
thereof, and the rights, duties and obligations of the Authority shall be
governed by the provisions of this article insofar as they may be applicable.

HISTORY: 1981, c. 569, § 2.1-234.20; 1998, cc. 498, 504; 2001, c. 844; 2002,
cc. 501, 542.