                                 CODE OF VIRGINIA

REFUNDING BONDS (§ 5.1-162)

The Authority is hereby authorized to provide by resolution for the issuance of
its revenue refunding bonds for the purpose of refunding any bonds then
outstanding which shall have been issued under the provisions of this act,
including the payment of any redemption premium thereon and any interest accrued
or to accrue to the date of redemption of such bonds, and if deemed advisable by
the Authority, for either or both of the following additional purposes:
constructing improvements, extensions or enlargement of the Authority Facilities
in connection with which the bonds to be refunded shall have been issued, and
paying all or any part of the cost of any additional Authority Facilities. The
issuance of such bonds, the maturities and other details thereof, the rights of
the holders thereof, and the rights, duties and obligations of the Authority in
respect to the same, shall be governed by the provisions of this act insofar as
the same may be applicable. Revenue refunding bonds issued under this section
may be sold or exchanged for outstanding bonds issued under this act and, if
sold, the proceeds thereof may be applied to the purchase, redemption or payment
of such outstanding bonds.

HISTORY: 2001, c. 342.