The Authority shall have power to issue bonds from time to time in its discretion for any of its corporate purposes, including the issuance of refunding bonds for the payment or retirement of bonds previously issued by it. The Authority may issue such type of bonds as it may determine, including but not limited to:
1. Bonds on which the principal and interest are payable:
a. Exclusively from the income and revenues of the project or facility financed with the proceeds of such bonds;
b. Exclusively from the income and revenues of certain designated projects or facilities whether or not they are financed in whole or in part with the proceeds of such bonds; or
c. From its revenues generally; and
2. Bonds on which the principal and interest are payable solely from contributions or grants received from the federal government, the Commonwealth, or any other source, public or private.
Any such bonds may be additionally secured by a pledge of any grants or contributions from the federal government, the Commonwealth, any political subdivision of the Commonwealth, or other source, or a pledge of any income or revenues of the Authority, or a mortgage of any particular projects or facilities or other property of the Authority.
Neither the Trustees of the Authority nor any person executing the bonds shall be liable personally on the bonds by reason of the issuance thereof. The bonds and other obligations of the Authority, and such bonds and obligations shall so state on their face, shall not be a debt of the Commonwealth or any political subdivision thereof other than the issuing Authority, and neither the Commonwealth nor any political subdivision thereof other than the issuing Authority shall be liable thereon, nor shall such bonds or obligations be payable out of any funds or properties other than those of the Authority. The bonds shall not constitute indebtedness within the meaning of any debt limitation or restriction. Bonds of the Authority are declared to be issued for an essential public and governmental purpose.
2011, c. 716.
Structure Code of Virginia
Title 2.2 - Administration of Government
§ 2.2-2201. Short title; definitions
§ 2.2-2202. Declaration of public purpose; Virginia Commercial Space Flight Authority created
§ 2.2-2203. Board of directors; members and officers; Executive Director
§ 2.2-2203.3. Employees; employment; personnel rules
§ 2.2-2203.4. Trust for postemployment benefits authorized; administration
§ 2.2-2204. Powers of the Authority
§ 2.2-2206. Trust indenture or agreement securing bonds
§ 2.2-2207. Moneys received deemed trust funds
§ 2.2-2208. Proceedings by bondholder or trustee to enforce rights
§ 2.2-2209. Bonds made securities for investment and deposit
§ 2.2-2210. Refunding bonds; bonds for refunding and for costs of additional projects
§ 2.2-2211. Grants or loans of public or private funds
§ 2.2-2212. Moneys of Authority
§ 2.2-2213. Forms of accounts and records; audit; annual report
§ 2.2-2214. Exemption from taxes or assessments
§ 2.2-2216. Appropriations by any government
§ 2.2-2217. Conveyance, lease or transfer of property by a city or county to the Authority
§ 2.2-2234. Short title; declaration of public purpose; Authority created
§ 2.2-2235.1. Board of directors; members and officers; Chief Executive Officer
§ 2.2-2236. Powers and duties of the Chief Executive Officer
§ 2.2-2236.1. Internal auditor; duties
§ 2.2-2237. Powers of Authority
§ 2.2-2237.2. Office of the Attorney General to provide instruction to Board
§ 2.2-2237.3. Division of Incentives
§ 2.2-2238. Economic development services
§ 2.2-2239. Planning and research
§ 2.2-2239.1. Advisory Committee on Business Development and Marketing
§ 2.2-2239.2. Advisory Committee on International Trade
§ 2.2-2240. Nonstock corporation to assist economic development
§ 2.2-2240.2:1. Virginia Business Ready Sites Program Fund
§ 2.2-2240.4. Virginia New Jobs Program
§ 2.2-2240.5. Workforce Retraining Program
§ 2.2-2240.6. Small Business New Jobs and Retraining Programs
§ 2.2-2241. Moneys of Authority
§ 2.2-2242. Forms of accounts and records
§ 2.2-2243. Exemptions from taxes or assessments
§ 2.2-2244. Exemption of Authority from personnel and procurement procedures
§ 2.2-2245. Appropriations by any government
§ 2.2-2246. Conveyance, lease or transfer of property by a city or county to the Authority
§ 2.2-2260. Short title; definition
§ 2.2-2261. Virginia Public Building Authority created; purpose; membership; terms; expenses; staff
§ 2.2-2262. Board of directors
§ 2.2-2263. Powers and duties of Authority; limitations
§ 2.2-2264. Revenue bonds generally
§ 2.2-2265. Trust agreement securing bonds
§ 2.2-2267. Moneys received deemed trust funds
§ 2.2-2268. Proceedings by bondholder or trustee to enforce rights
§ 2.2-2269. Bonds made securities for investment and deposit
§ 2.2-2270. Revenue refunding bonds; bonds for refunding and for cost of additional projects
§ 2.2-2271. Grants or loans of public or private funds
§ 2.2-2272. Moneys of Authority; audit
§ 2.2-2273. Contracts, leases and other arrangements
§ 2.2-2274. Resolutions, rules and regulations, etc.
§ 2.2-2275. Competition in award of contracts; contractors to give surety; terms of contracts
§ 2.2-2276. Eminent domain; right of entry
§ 2.2-2277. Jurisdiction of suits against Authority; service of process
§ 2.2-2278. Exemption from taxes or assessments
§ 2.2-2279. Short title; definitions
§ 2.2-2280. Declaration of public purpose; Authority created
§ 2.2-2281. Construction of article
§ 2.2-2283. Meetings of the Board
§ 2.2-2284. Executive Director; appointment; duties
§ 2.2-2285. Powers of the Authority
§ 2.2-2287. Power to borrow money and issue bonds
§ 2.2-2288. Power to issue bonds to purchase ninety percent guaranteed portion of loans
§ 2.2-2289. Power to issue umbrella bonds
§ 2.2-2290. Insurance or guarantee fund
§ 2.2-2291. Security for bonds; fees and expenses; limitations
§ 2.2-2292. Public hearing and approval
§ 2.2-2293. Loans to lenders; conditions
§ 2.2-2294. Investment in, purchase or assignment of loans; conditions
§ 2.2-2295. Regulations of the Authority
§ 2.2-2296. How bonds paid and secured
§ 2.2-2297. Liability of Commonwealth, political subdivisions and members of Board
§ 2.2-2298. Authorization of bonds by resolution; contents of bond sale; manner
§ 2.2-2299. Resolution authorizing issuance of bonds; provisions
§ 2.2-2300. Pledge by Authority
§ 2.2-2301. Purchase of bonds of Authority
§ 2.2-2302. Bonds secured by indenture; contents; expenses; how treated
§ 2.2-2303. Signatures of prior members or officers; validity
§ 2.2-2304. Deposit of money; expenditures; security for deposits
§ 2.2-2305. Contracts with holders of bonds; how money secured
§ 2.2-2306. Bondholder protection
§ 2.2-2307. Bonds as legal investments and securities
§ 2.2-2308. Expenses of Authority; liability of Commonwealth or political subdivision prohibited
§ 2.2-2309. Creation, administration, and management of Virginia Export Fund
§ 2.2-2310. Creation, administration, and management of Virginia Small Business Growth Fund
§ 2.2-2312. Annual report; audit
§ 2.2-2312.1. Risk-based review of outstanding loans; report
§ 2.2-2313. Exemption from taxation
§ 2.2-2314. Administrative Process Act not applicable
§ 2.2-2315. Short title; declaration of public purpose; Authority created
§ 2.2-2316. Executive Director; Board of Directors; members and officers
§ 2.2-2317. Appointment and duties of Executive Director
§ 2.2-2318. Powers of Authority
§ 2.2-2319. Cooperative Marketing Fund
§ 2.2-2320. Governor's Motion Picture Opportunity Fund
§ 2.2-2320.1. Governor's New Airline Service Incentive Fund
§ 2.2-2320.2. Tourism promotion grants
§ 2.2-2321. Grants from Commonwealth
§ 2.2-2322. Deposit of money; expenditures; security for deposits
§ 2.2-2323. Forms of accounts and records; annual reports; audit
§ 2.2-2324. Exemption from taxation
§ 2.2-2325. Exemptions from personnel and procurement procedures
§ 2.2-2326. Sovereign immunity
§ 2.2-2327. Liberal construction of article
§ 2.2-2338. Board of Trustees; membership
§ 2.2-2339. (Effective until date pursuant to Va. Const., Art. IV, § 13) Duties of the Authority
§ 2.2-2339. (Effective pursuant to Va. Const., Art. IV, § 13) Duties of the Authority
§ 2.2-2339.1. Fort Monroe Master Plan; approval by Governor
§ 2.2-2340. Additional declaration of policy; powers of the Authority; penalty
§ 2.2-2341. Relationship to the City of Hampton
§ 2.2-2341.1. Control over the use of certain vehicles
§ 2.2-2343. Authority may borrow money, accept contributions, etc.
§ 2.2-2344. Authority empowered to issue bonds; additional security; liability thereon
§ 2.2-2345. Powers and duties of executive director
§ 2.2-2347. Exemption from taxation
§ 2.2-2348. Rents, fees, and charges; disposition of revenues
§ 2.2-2349. Powers conferred additional and supplemental; liberal construction
§ 2.2-2349.1. Chapter controlling over inconsistent laws
§ 2.2-2350. Sovereign immunity
§ 2.2-2351. Short title; declaration of public purpose
§ 2.2-2353. Board of directors; members; president
§ 2.2-2354. Powers and duties of the president
§ 2.2-2355. Powers of the Authority
§ 2.2-2356. Designation of staff of not-for-profit entity
§ 2.2-2357. Division of Entrepreneurial Ecosystems
§ 2.2-2358. Division of Investment
§ 2.2-2359. Division of Commercialization
§ 2.2-2360. Virginia Innovation Index
§ 2.2-2361. Grants or loans of public or private funds
§ 2.2-2362. Moneys of Authority; examination of books by the Auditor of Public Accounts
§ 2.2-2363. Exemption from taxes or assessments
§ 2.2-2364. Exemption of Authority from personnel and procurement procedures
§ 2.2-2366. Opioid Abatement Authority established
§ 2.2-2367. Board of directors; members
§ 2.2-2368. Duties of the Authority
§ 2.2-2369. Powers of the Authority
§ 2.2-2370. Conditions and restrictions on financial assistance
§ 2.2-2371. Cooperation with other agencies
§ 2.2-2372. Form and audit of accounts and records
§ 2.2-2374. Opioid Abatement Fund
§ 2.2-2375. Exemption from taxes or assessments
§ 2.2-2376. Exemption of Authority from personnel and procurement procedures