§ 15.2-5358. Fees, rents and charges for use of project and facilities;sinking fund.
The authority is hereby authorized to fix, revise, charge and collect fees,rents and other charges for the use of any project and the facilitiesthereof. Such fees, rents and other charges shall be so fixed and adjusted asto provide, together with other revenues determined by the authority to beavailable, a fund sufficient to pay the cost of maintaining, repairing andoperating the project, the principal of and interest on such bonds as theybecome due and payable and the amounts necessary to create and maintainreserves for such purposes and for other purposes of the authority. Suchfees, rents and charges shall not be subject to supervision or regulation byany locality or by any commission, board, bureau or agency of any of theforegoing. The authority may provide in the resolution authorizing theissuance of such bonds, or in the trust indenture securing the same, forsetting aside any part or all of the fees, rents and other charges receivedby it in a sinking or other similar fund which is hereby pledged to, andcharged with, the payment of the principal of and the interest on such bonds,as they become due, and the redemption price or the purchase price of suchbonds retired by call or purchase as therein provided. Such pledge shall bevalid and binding from the time when the pledge is made. The fees, rents andcharges so pledged and thereafter received by the authority shall immediatelybe subject to the lien of such pledge without any physical delivery thereofor further act, and the lien of any such pledge shall be valid and binding asagainst all parties having claims of any kind in tort, contract or otherwiseagainst the authority, irrespective of whether such parties have noticethereof. Neither the resolution nor trust indenture need be filed or recordedexcept in the records of the authority. The use and disposition of moneys tothe credit of a sinking or other similar fund shall be subject to theprovisions of such resolution or trust indenture. Except as may otherwise beprovided in such resolution or trust indenture, the sinking or other similarfund shall be a fund for all such bonds without distinction or priority ofone over another.
(Code 1950, § 32-271.2; 1973, c. 462, § 15.1-1593; 1979, c. 719; 1997, c.587.)
§ 15.2-5358. Fees, rents and charges for use of project and facilities;sinking fund.
The authority is hereby authorized to fix, revise, charge and collect fees,rents and other charges for the use of any project and the facilitiesthereof. Such fees, rents and other charges shall be so fixed and adjusted asto provide, together with other revenues determined by the authority to beavailable, a fund sufficient to pay the cost of maintaining, repairing andoperating the project, the principal of and interest on such bonds as theybecome due and payable and the amounts necessary to create and maintainreserves for such purposes and for other purposes of the authority. Suchfees, rents and charges shall not be subject to supervision or regulation byany locality or by any commission, board, bureau or agency of any of theforegoing. The authority may provide in the resolution authorizing theissuance of such bonds, or in the trust indenture securing the same, forsetting aside any part or all of the fees, rents and other charges receivedby it in a sinking or other similar fund which is hereby pledged to, andcharged with, the payment of the principal of and the interest on such bonds,as they become due, and the redemption price or the purchase price of suchbonds retired by call or purchase as therein provided. Such pledge shall bevalid and binding from the time when the pledge is made. The fees, rents andcharges so pledged and thereafter received by the authority shall immediatelybe subject to the lien of such pledge without any physical delivery thereofor further act, and the lien of any such pledge shall be valid and binding asagainst all parties having claims of any kind in tort, contract or otherwiseagainst the authority, irrespective of whether such parties have noticethereof. Neither the resolution nor trust indenture need be filed or recordedexcept in the records of the authority. The use and disposition of moneys tothe credit of a sinking or other similar fund shall be subject to theprovisions of such resolution or trust indenture. Except as may otherwise beprovided in such resolution or trust indenture, the sinking or other similarfund shall be a fund for all such bonds without distinction or priority ofone over another.
(Code 1950, § 32-271.2; 1973, c. 462, § 15.1-1593; 1979, c. 719; 1997, c.587.)
§ 15.2-5358. Fees, rents and charges for use of project and facilities;sinking fund.
The authority is hereby authorized to fix, revise, charge and collect fees,rents and other charges for the use of any project and the facilitiesthereof. Such fees, rents and other charges shall be so fixed and adjusted asto provide, together with other revenues determined by the authority to beavailable, a fund sufficient to pay the cost of maintaining, repairing andoperating the project, the principal of and interest on such bonds as theybecome due and payable and the amounts necessary to create and maintainreserves for such purposes and for other purposes of the authority. Suchfees, rents and charges shall not be subject to supervision or regulation byany locality or by any commission, board, bureau or agency of any of theforegoing. The authority may provide in the resolution authorizing theissuance of such bonds, or in the trust indenture securing the same, forsetting aside any part or all of the fees, rents and other charges receivedby it in a sinking or other similar fund which is hereby pledged to, andcharged with, the payment of the principal of and the interest on such bonds,as they become due, and the redemption price or the purchase price of suchbonds retired by call or purchase as therein provided. Such pledge shall bevalid and binding from the time when the pledge is made. The fees, rents andcharges so pledged and thereafter received by the authority shall immediatelybe subject to the lien of such pledge without any physical delivery thereofor further act, and the lien of any such pledge shall be valid and binding asagainst all parties having claims of any kind in tort, contract or otherwiseagainst the authority, irrespective of whether such parties have noticethereof. Neither the resolution nor trust indenture need be filed or recordedexcept in the records of the authority. The use and disposition of moneys tothe credit of a sinking or other similar fund shall be subject to theprovisions of such resolution or trust indenture. Except as may otherwise beprovided in such resolution or trust indenture, the sinking or other similarfund shall be a fund for all such bonds without distinction or priority ofone over another.
(Code 1950, § 32-271.2; 1973, c. 462, § 15.1-1593; 1979, c. 719; 1997, c.587.)
