State Codes and Statutes
Statutes > Virginia > Title-23 > Chapter-3-2 > 23-30-27§ 23-30.27. Purchase and sale of bonds or other obligations of educationalinstitutions.
The Authority is authorized to purchase, with any funds of the Authorityavailable for such purpose, at public or private sale and for such price andon such terms as it shall determine, bonds or other obligations issued byeducational institutions pursuant to Chapter 3 (§ 23-14 et seq.) of thistitle.
The Authority may pledge to the payment of the interest on and the principalof any bonds of the Authority all or any part of the educational institutionbonds so purchased, including payments of principal and interest thereon asthey shall become due. The Authority may also, subject to any such pledge,sell any such educational institution bonds so purchased and apply theproceeds of such sale in the purchase of other like educational institutionbonds or for such purpose and in such manner as shall be provided by anyresolution authorizing the issuance of bonds of the Authority.
(1966, c. 685.)
