                                 CODE OF VIRGINIA

POWERS; ISSUANCE OF NEGOTIABLE NOTES (§ 23.1-1226)

The Authority may issue negotiable notes for any corporate purpose or renew any
notes by the issuance of new notes, whether or not the notes to be renewed have
matured. The Authority may issue notes partly to renew notes or to discharge
other obligations then outstanding and partly for any other purpose. Such notes
may be authorized, sold, executed, and delivered in the same manner as bonds.
Any resolution authorizing notes or any issuance of notes by the Authority may
contain any provision that the Authority may include in any resolution
authorizing revenue bonds or any issuance of revenue bonds by the Authority, and
the Authority may include in any note any term, covenant, or condition that it
may include in any bond. All such notes are payable solely from the revenues of
the Authority, subject only to any contractual rights of the holders of any of
its notes or other obligations then outstanding.

HISTORY: 1972, c. 686, § 23-30.46; 2016, c. 588.