§ 15.2-5608. Bond resolution; terms, conditions, form and execution of bonds;sale; interim receipts or temporary bonds.
Bonds of the authority shall be authorized by resolution of the board and maybe issued in one or more series, shall be dated, shall mature at such time ortimes not exceeding forty years from their date or dates and shall bearinterest at such rate or rates, as may be determined by the authority, andmay be made redeemable before maturity, at the option of the authority atsuch price or prices and under such terms and conditions as may be fixed bythe authority prior to the issuance of the bonds. The authority shalldetermine the form of the bonds, including any interest coupons to beattached thereto, and the manner of execution of the bonds, and shall fix thedenomination or denominations of the bonds and the place or places of paymentof principal and interest, which may be at any bank or trust company withinor outside the Commonwealth. In case any officer whose signature or afacsimile of whose signature shall appear on any bonds or coupons shall ceaseto be such officer before delivery of such bond, such signature or suchfacsimile shall nevertheless be valid and sufficient for all purposes thesame as if he had remained in office until such delivery. Notwithstanding anyof the other provisions of this chapter or any recitals in any bonds issuedunder the provisions of this chapter, all such bonds shall be deemed to benegotiable instruments under the laws of the Commonwealth. The bonds may beissued in coupon or registered form or both, as the authority may determine,and provision may be made for the registration of any coupon bonds as toprincipal alone and also as to both principal and interest, and for thereconversion into coupon bonds of any bonds registered as to both principaland interest. The authority may sell such bonds in such manner, either atpublic or private sale, and for such price, as it may determine to be for thebest interests of the authority.
Prior to the preparation of definitive bonds, the authority may, under likerestrictions, issue interim receipts or temporary bonds, with or withoutcoupons, exchangeable for definitive bonds when such bonds shall have beenexecuted and are available for delivery. The authority may also provide forthe replacement of any bonds which shall become mutilated or shall bedestroyed or lost.
Bonds may be issued under the provisions of this chapter without obtainingthe consent of any commission, board, bureau or agency of the Commonwealth orof any political subdivision thereof, and without any other proceedings orthe happening of other conditions or things than those proceedings,conditions or things which are specifically required by this chapter.
(Code 1950, § 15-714.21; 1962, c. 393, § 9, § 15.1-1279; 1973, c. 238; 1997,c. 587.)
§ 15.2-5608. Bond resolution; terms, conditions, form and execution of bonds;sale; interim receipts or temporary bonds.
Bonds of the authority shall be authorized by resolution of the board and maybe issued in one or more series, shall be dated, shall mature at such time ortimes not exceeding forty years from their date or dates and shall bearinterest at such rate or rates, as may be determined by the authority, andmay be made redeemable before maturity, at the option of the authority atsuch price or prices and under such terms and conditions as may be fixed bythe authority prior to the issuance of the bonds. The authority shalldetermine the form of the bonds, including any interest coupons to beattached thereto, and the manner of execution of the bonds, and shall fix thedenomination or denominations of the bonds and the place or places of paymentof principal and interest, which may be at any bank or trust company withinor outside the Commonwealth. In case any officer whose signature or afacsimile of whose signature shall appear on any bonds or coupons shall ceaseto be such officer before delivery of such bond, such signature or suchfacsimile shall nevertheless be valid and sufficient for all purposes thesame as if he had remained in office until such delivery. Notwithstanding anyof the other provisions of this chapter or any recitals in any bonds issuedunder the provisions of this chapter, all such bonds shall be deemed to benegotiable instruments under the laws of the Commonwealth. The bonds may beissued in coupon or registered form or both, as the authority may determine,and provision may be made for the registration of any coupon bonds as toprincipal alone and also as to both principal and interest, and for thereconversion into coupon bonds of any bonds registered as to both principaland interest. The authority may sell such bonds in such manner, either atpublic or private sale, and for such price, as it may determine to be for thebest interests of the authority.
Prior to the preparation of definitive bonds, the authority may, under likerestrictions, issue interim receipts or temporary bonds, with or withoutcoupons, exchangeable for definitive bonds when such bonds shall have beenexecuted and are available for delivery. The authority may also provide forthe replacement of any bonds which shall become mutilated or shall bedestroyed or lost.
Bonds may be issued under the provisions of this chapter without obtainingthe consent of any commission, board, bureau or agency of the Commonwealth orof any political subdivision thereof, and without any other proceedings orthe happening of other conditions or things than those proceedings,conditions or things which are specifically required by this chapter.
(Code 1950, § 15-714.21; 1962, c. 393, § 9, § 15.1-1279; 1973, c. 238; 1997,c. 587.)
§ 15.2-5608. Bond resolution; terms, conditions, form and execution of bonds;sale; interim receipts or temporary bonds.
Bonds of the authority shall be authorized by resolution of the board and maybe issued in one or more series, shall be dated, shall mature at such time ortimes not exceeding forty years from their date or dates and shall bearinterest at such rate or rates, as may be determined by the authority, andmay be made redeemable before maturity, at the option of the authority atsuch price or prices and under such terms and conditions as may be fixed bythe authority prior to the issuance of the bonds. The authority shalldetermine the form of the bonds, including any interest coupons to beattached thereto, and the manner of execution of the bonds, and shall fix thedenomination or denominations of the bonds and the place or places of paymentof principal and interest, which may be at any bank or trust company withinor outside the Commonwealth. In case any officer whose signature or afacsimile of whose signature shall appear on any bonds or coupons shall ceaseto be such officer before delivery of such bond, such signature or suchfacsimile shall nevertheless be valid and sufficient for all purposes thesame as if he had remained in office until such delivery. Notwithstanding anyof the other provisions of this chapter or any recitals in any bonds issuedunder the provisions of this chapter, all such bonds shall be deemed to benegotiable instruments under the laws of the Commonwealth. The bonds may beissued in coupon or registered form or both, as the authority may determine,and provision may be made for the registration of any coupon bonds as toprincipal alone and also as to both principal and interest, and for thereconversion into coupon bonds of any bonds registered as to both principaland interest. The authority may sell such bonds in such manner, either atpublic or private sale, and for such price, as it may determine to be for thebest interests of the authority.
Prior to the preparation of definitive bonds, the authority may, under likerestrictions, issue interim receipts or temporary bonds, with or withoutcoupons, exchangeable for definitive bonds when such bonds shall have beenexecuted and are available for delivery. The authority may also provide forthe replacement of any bonds which shall become mutilated or shall bedestroyed or lost.
Bonds may be issued under the provisions of this chapter without obtainingthe consent of any commission, board, bureau or agency of the Commonwealth orof any political subdivision thereof, and without any other proceedings orthe happening of other conditions or things than those proceedings,conditions or things which are specifically required by this chapter.
(Code 1950, § 15-714.21; 1962, c. 393, § 9, § 15.1-1279; 1973, c. 238; 1997,c. 587.)
