§ 15.2-5419. Refunding bonds
An authority created hereunder is hereby authorized to provide by resolution for the issuance of revenue refunding bonds of the authority for the purpose of refunding any revenue bonds then outstanding and issued under the provisions of this chapter, whether or not such outstanding bonds have matured or are then subject to redemption. Each such authority is further authorized to provide by resolution for the issuance of a single issue of revenue bonds of the authority for the combined purposes of (i) paying the cost of any project and (ii) refunding the revenue bonds of the authority which have been issued under the provisions of this chapter and are then outstanding, whether or not such outstanding bonds have matured or are then subject to redemption. The issuance of such bonds, the maturities and other details thereof, the rights and remedies of the holders thereof, and the rights, powers, privileges, duties and obligations of the authority with respect to the bonds, shall be governed by the foregoing provisions of this chapter insofar as they are applicable.
(1979, c. 416, § 15.1-1622; 1997, c. 587.)
Sections: Previous 15.2-5412 15.2-5413 15.2-5414 15.2-5415 15.2-5416 15.2-5417 15.2-5418 15.2-5419 15.2-5420 15.2-5421 15.2-5422 15.2-5423 15.2-5423.1 15.2-5424 15.2-5425 NextLast modified: April 2, 2009