State Codes and Statutes
Statutes > Virginia > Title-62-1 > Chapter-21 > 62-1-205§ 62.1-205. Power to issue refunding bonds.
The Authority shall have the power: (i) to issue bonds to renew or to paybonds, including the interest, (ii) whenever it deems refunding expedient, torefund any bonds by the issuance of new bonds, whether the bonds to berefunded have or have not matured, and (iii) to issue bonds partly to refundbonds then outstanding and partly for its corporate purposes. The refundingbonds may be exchanged for the bonds to be refunded or they may be sold andthe proceeds applied to the purchase, redemption or payment of the bonds tobe refunded. The amount of the bonds issued by the Authority and refundedwith proceeds of refunding bonds issued hereunder shall not be included inthe total of outstanding bonds for purposes of the limit on the amount ofbonds issued by the Authority as provided in § 62.1-204.
(1984, c. 699; 1994, c. 684.)
