§ 2.2-2299. Resolution authorizing issuance of bonds; provisions.
Any resolution authorizing the issuance of bonds may contain provisions for:
1. Pledging all or any part of the revenues of the Authority to secure thepayment of the bonds, subject to the terms of the proceedings relating toother bonds of the Authority as may then exist;
2. Pledging all or any part of the assets of the Authority, including loansand obligations securing the same, to secure the payment of the bonds,subject to the terms of the proceedings relating to other bonds of theAuthority as may then exist;
3. The use and disposition of the gross income from loans owned by theAuthority and payment of the principal of loans owned by the Authority;
4. The setting aside of reserves or sinking funds and the regulations anddisposition thereof;
5. Limitations on the purposes to which the proceeds from the sale of bondsmay be applied and pledging the proceeds to secure the payment of the bonds;
6. Limitations on the issuance of additional bonds, the terms upon whichadditional bonds may be issued and secured, and the refunding of outstandingor other bonds;
7. The procedure, if any, by which the terms of any of the proceedings underwhich the bonds are being issued may be amended or abrogated, the number orpercentage of bondholders who or which must consent thereto, and the mannerin which the consent may be given;
8. The vesting in a trustee of such property, rights, powers and duties intrust as the Authority may determine, and limiting or abrogating the right ofbondholders to appoint a trustee or limiting the rights, powers and duties ofthe trustee;
9. Defining the act or omissions to act that shall constitute a default andthe obligations or duties of the Authority to the holders of the bonds, andproviding for the rights and remedies of the holders of the bonds in theevent of default, which rights and remedies may include the general laws ofthe Commonwealth and other provisions of this article; or
10. Any other matter, of like or different character, which in any wayaffects the security or protection of the holders of the bonds.
§ 2.2-2299. Resolution authorizing issuance of bonds; provisions.
Any resolution authorizing the issuance of bonds may contain provisions for:
1. Pledging all or any part of the revenues of the Authority to secure thepayment of the bonds, subject to the terms of the proceedings relating toother bonds of the Authority as may then exist;
2. Pledging all or any part of the assets of the Authority, including loansand obligations securing the same, to secure the payment of the bonds,subject to the terms of the proceedings relating to other bonds of theAuthority as may then exist;
3. The use and disposition of the gross income from loans owned by theAuthority and payment of the principal of loans owned by the Authority;
4. The setting aside of reserves or sinking funds and the regulations anddisposition thereof;
5. Limitations on the purposes to which the proceeds from the sale of bondsmay be applied and pledging the proceeds to secure the payment of the bonds;
6. Limitations on the issuance of additional bonds, the terms upon whichadditional bonds may be issued and secured, and the refunding of outstandingor other bonds;
7. The procedure, if any, by which the terms of any of the proceedings underwhich the bonds are being issued may be amended or abrogated, the number orpercentage of bondholders who or which must consent thereto, and the mannerin which the consent may be given;
8. The vesting in a trustee of such property, rights, powers and duties intrust as the Authority may determine, and limiting or abrogating the right ofbondholders to appoint a trustee or limiting the rights, powers and duties ofthe trustee;
9. Defining the act or omissions to act that shall constitute a default andthe obligations or duties of the Authority to the holders of the bonds, andproviding for the rights and remedies of the holders of the bonds in theevent of default, which rights and remedies may include the general laws ofthe Commonwealth and other provisions of this article; or
10. Any other matter, of like or different character, which in any wayaffects the security or protection of the holders of the bonds.
§ 2.2-2299. Resolution authorizing issuance of bonds; provisions.
Any resolution authorizing the issuance of bonds may contain provisions for:
1. Pledging all or any part of the revenues of the Authority to secure thepayment of the bonds, subject to the terms of the proceedings relating toother bonds of the Authority as may then exist;
2. Pledging all or any part of the assets of the Authority, including loansand obligations securing the same, to secure the payment of the bonds,subject to the terms of the proceedings relating to other bonds of theAuthority as may then exist;
3. The use and disposition of the gross income from loans owned by theAuthority and payment of the principal of loans owned by the Authority;
4. The setting aside of reserves or sinking funds and the regulations anddisposition thereof;
5. Limitations on the purposes to which the proceeds from the sale of bondsmay be applied and pledging the proceeds to secure the payment of the bonds;
6. Limitations on the issuance of additional bonds, the terms upon whichadditional bonds may be issued and secured, and the refunding of outstandingor other bonds;
7. The procedure, if any, by which the terms of any of the proceedings underwhich the bonds are being issued may be amended or abrogated, the number orpercentage of bondholders who or which must consent thereto, and the mannerin which the consent may be given;
8. The vesting in a trustee of such property, rights, powers and duties intrust as the Authority may determine, and limiting or abrogating the right ofbondholders to appoint a trustee or limiting the rights, powers and duties ofthe trustee;
9. Defining the act or omissions to act that shall constitute a default andthe obligations or duties of the Authority to the holders of the bonds, andproviding for the rights and remedies of the holders of the bonds in theevent of default, which rights and remedies may include the general laws ofthe Commonwealth and other provisions of this article; or
10. Any other matter, of like or different character, which in any wayaffects the security or protection of the holders of the bonds.
