{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/10.1-306.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/10.1-306.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/10.1-306.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/10.1-306.html"}],"law_id":345947,"edition_id":2,"section_id":345947,"structure_id":49683,"section_number":"10.1-306","catch_line":"Trust indenture; provisions applicable to bond resolution","history":"Code 1950, \u00a7 10-105; 1986, c. 498; 1988, c. 891.","full_text":"Any issue of revenue bonds may be secured by a trust indenture by and between the Director, in the name of the Commonwealth, and a corporate trustee, which may be any trust company or bank having the powers of a trust company. The trust indenture may pledge fees and charges to be received from the use of and for the services rendered by any camp and recreational facilities to be acquired or constructed from the proceeds of such revenue bonds, but no trust indenture shall convey or mortgage any camping or recreational facilities or any part thereof.\n\nEither the resolution providing for the issuance of revenue bonds or the trust indenture may contain provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including covenants setting forth the duties of the Director in relation to the acquisition, construction, improvement, maintenance, operation, repair and insurance of such facilities, and the custody, safeguarding and application of all moneys. The trust indenture may also provide that camping and recreational facilities shall be acquired, constructed, enlarged or improved, and paid for under the supervision and approval of consulting engineers employed or designated by the Director, in the name of the Commonwealth, and satisfactory to the original purchasers of the bonds issued. The trust indenture may further require that the security given by contractors and by any depository of the proceeds of the bonds or revenues of the camping and recreational facilities or other moneys pertaining to the facilities be satisfactory to the purchasers. It shall be lawful for any bank or trust company incorporated under the laws of this Commonwealth to act as depository and to furnish indemnifying bonds or to pledge securities required by the Director. Such indenture may set forth the rights and remedies of the bondholders and of the trustee, and may restrict the individual right of action of bondholders as is customary in trust indentures securing bonds and debentures of corporations.\n\nIn addition, the indenture may contain other provisions that the Director deems reasonable and proper for the security of the bondholders.\n\n","order_by":null,"text":{"0":{"id":1289929,"text":"Any issue of revenue bonds may be secured by a trust indenture by and between the Director, in the name of the Commonwealth, and a corporate trustee, which may be any trust company or bank having the powers of a trust company. The trust indenture may pledge fees and charges to be received from the use of and for the services rendered by any camp and recreational facilities to be acquired or constructed from the proceeds of such revenue bonds, but no trust indenture shall convey or mortgage any camping or recreational facilities or any part thereof.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":""},"1":{"id":1289930,"text":"Either the resolution providing for the issuance of revenue bonds or the trust indenture may contain provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including covenants setting forth the duties of the Director in relation to the acquisition, construction, improvement, maintenance, operation, repair and insurance of such facilities, and the custody, safeguarding and application of all moneys. The trust indenture may also provide that camping and recreational facilities shall be acquired, constructed, enlarged or improved, and paid for under the supervision and approval of consulting engineers employed or designated by the Director, in the name of the Commonwealth, and satisfactory to the original purchasers of the bonds issued. The trust indenture may further require that the security given by contractors and by any depository of the proceeds of the bonds or revenues of the camping and recreational facilities or other moneys pertaining to the facilities be satisfactory to the purchasers. It shall be lawful for any bank or trust company incorporated under the laws of this Commonwealth to act as depository and to furnish indemnifying bonds or to pledge securities required by the Director. Such indenture may set forth the rights and remedies of the bondholders and of the trustee, and may restrict the individual right of action of bondholders as is customary in trust indentures securing bonds and debentures of corporations.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"prior_prefix":"","next_prefix":""},"2":{"id":1289931,"text":"In addition, the indenture may contain other provisions that the Director deems reasonable and proper for the security of the bondholders.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"prior_prefix":""}},"ancestry":[{"id":49683,"edition_id":2,"name":"State Park Development Revenue Bond Act","identifier":"3","label":"chapter","depth":3,"order_by":4,"parent_id":49585,"metadata":{"child_laws":13,"child_structures":0},"date_created":"2026-08-02 02:13:19","date_modified":"2026-08-02 12:28:47","permalink":{"id":1370745,"object_type":"structure","relational_id":49683,"identifier":"3","token":"10.1\/I\/3","url":"\/10.1\/I\/3\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49585,"edition_id":2,"name":"Activities Administered by the Department of Conservation and Recreation","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":49584,"metadata":{"child_laws":357,"child_structures":44},"date_created":"2026-08-02 02:11:52","date_modified":"2026-08-02 12:28:44","permalink":{"id":1370317,"object_type":"structure","relational_id":49585,"identifier":"I","token":"10.1\/I","url":"\/10.1\/I\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49584,"edition_id":2,"name":"Conservation","identifier":"10.1","label":"title","depth":1,"order_by":38,"parent_id":null,"metadata":{"child_laws":886,"child_structures":125},"date_created":"2026-08-02 02:11:52","date_modified":"2026-08-02 12:28:44","permalink":{"id":1370315,"object_type":"structure","relational_id":49584,"identifier":"10.1","token":"10.1","url":"\/10.1\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":345941,"structure_id":49683,"section_number":"10.1-300","catch_line":"Definitions","url":"\/10.1-300\/","token":"10.1\/I\/3\/10.1-300","metadata":false},{"id":345942,"structure_id":49683,"section_number":"10.1-301","catch_line":"General powers of Director","url":"\/10.1-301\/","token":"10.1\/I\/3\/10.1-301","metadata":false},{"id":345943,"structure_id":49683,"section_number":"10.1-302","catch_line":"Payment of cost of camping and recreational facilities","url":"\/10.1-302\/","token":"10.1\/I\/3\/10.1-302","metadata":false},{"id":345944,"structure_id":49683,"section_number":"10.1-303","catch_line":"Revenue bonds; form and requirements","url":"\/10.1-303\/","token":"10.1\/I\/3\/10.1-303","metadata":false},{"id":345945,"structure_id":49683,"section_number":"10.1-304","catch_line":"Sale and proceeds of revenue bonds; additional or temporary bonds","url":"\/10.1-304\/","token":"10.1\/I\/3\/10.1-304","metadata":false},{"id":345946,"structure_id":49683,"section_number":"10.1-305","catch_line":"Bonds not to constitute debt of Commonwealth","url":"\/10.1-305\/","token":"10.1\/I\/3\/10.1-305","metadata":false},{"id":345947,"structure_id":49683,"section_number":"10.1-306","catch_line":"Trust indenture; provisions applicable to bond resolution","url":"\/10.1-306\/","token":"10.1\/I\/3\/10.1-306","metadata":false},{"id":345948,"structure_id":49683,"section_number":"10.1-307","catch_line":"Fees and charges","url":"\/10.1-307\/","token":"10.1\/I\/3\/10.1-307","metadata":false},{"id":345949,"structure_id":49683,"section_number":"10.1-308","catch_line":"Sinking fund","url":"\/10.1-308\/","token":"10.1\/I\/3\/10.1-308","metadata":false},{"id":345950,"structure_id":49683,"section_number":"10.1-309","catch_line":"Remedies of bondholders and trustee","url":"\/10.1-309\/","token":"10.1\/I\/3\/10.1-309","metadata":false},{"id":345951,"structure_id":49683,"section_number":"10.1-310","catch_line":"All moneys received to be trust funds; disbursements","url":"\/10.1-310\/","token":"10.1\/I\/3\/10.1-310","metadata":false},{"id":345952,"structure_id":49683,"section_number":"10.1-311","catch_line":"Revenue refunding bonds","url":"\/10.1-311\/","token":"10.1\/I\/3\/10.1-311","metadata":false},{"id":345953,"structure_id":49683,"section_number":"10.1-312","catch_line":"Bonds declared legal and authorized investments","url":"\/10.1-312\/","token":"10.1\/I\/3\/10.1-312","metadata":false}],"previous_section":{"id":345946,"structure_id":49683,"section_number":"10.1-305","catch_line":"Bonds not to constitute debt of Commonwealth","url":"\/10.1-305\/","token":"10.1\/I\/3\/10.1-305","metadata":false},"next_section":{"id":345948,"structure_id":49683,"section_number":"10.1-307","catch_line":"Fees and charges","url":"\/10.1-307\/","token":"10.1\/I\/3\/10.1-307","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/10.1-306\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 2 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1986, chapter 498; in 1988, chapter 891.<\/p>","references":false,"refers_to":false,"permalink":{"id":1370771,"object_type":"law","relational_id":345947,"identifier":"10.1-306","token":"10.1\/I\/3\/10.1-306","url":"\/10.1-306\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/10.1-306\/","token":"10.1\/I\/3\/10.1-306","dublin_core":{"Title":"Trust indenture; provisions applicable to bond resolution","Type":"Text","Format":"text\/html","Identifier":"\u00a7 10.1-306","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Any issue<\/span> of revenue bonds<\/span> may be secured by a trust indenture by and between the Director<\/span>, in the name of the Commonwealth, and a corporate trustee, which may be any trust company or bank having the powers of a trust company. The trust indenture may pledge fees and charges to be received from the use of and for the services rendered by any camp and recreational facilities to be acquired or constructed from the proceeds of such revenue bonds<\/span>, but no trust indenture shall convey or mortgage any camping or recreational facilities or any part thereof.<\/p>

Either the resolution providing for the issuance of revenue bonds<\/span> or the trust indenture may contain provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law<\/span>, including covenants setting forth the duties of the Director<\/span> in relation to the acquisition, construction, improvement, maintenance, operation, repair and insurance of such facilities, and the custody<\/span>, safeguarding and application of all moneys. The trust indenture may also provide that camping and recreational facilities<\/span> shall be acquired, constructed, enlarged or improved, and paid for under the supervision and approval of consulting engineers employed or designated by the Director<\/span>, in the name of the Commonwealth, and satisfactory to the original purchasers of the bonds<\/span> issued. The trust indenture may further require that the security given by contractors and by any depository of the proceeds of the bonds<\/span> or revenues of the camping and recreational facilities<\/span> or other moneys pertaining to the facilities be satisfactory to the purchasers. It shall be lawful for any bank or trust company incorporated under the laws<\/span> of this Commonwealth to act as depository and to furnish indemnifying bonds<\/span> or to pledge securities required by the Director<\/span>. Such indenture may set forth the rights and remedies of the bondholders and of the trustee, and may restrict the individual right of action of bondholders as is customary in trust indentures securing bonds<\/span> and debentures of corporations.<\/p>

In addition, the indenture may contain other provisions that the Director<\/span> deems reasonable and proper for the security of the bondholders.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nTRUST INDENTURE; PROVISIONS APPLICABLE TO BOND RESOLUTION (\u00a7 10.1-306)\n\nAny issue of revenue bonds may be secured by a trust indenture by and between\nthe Director, in the name of the Commonwealth, and a corporate trustee, which\nmay be any trust company or bank having the powers of a trust company. The trust\nindenture may pledge fees and charges to be received from the use of and for the\nservices rendered by any camp and recreational facilities to be acquired or\nconstructed from the proceeds of such revenue bonds, but no trust indenture\nshall convey or mortgage any camping or recreational facilities or any part\nthereof.\n\nEither the resolution providing for the issuance of revenue bonds or the trust\nindenture may contain provisions for protecting and enforcing the rights and\nremedies of the bondholders as may be reasonable and proper and not in violation\nof law, including covenants setting forth the duties of the Director in relation\nto the acquisition, construction, improvement, maintenance, operation, repair\nand insurance of such facilities, and the custody, safeguarding and application\nof all moneys. The trust indenture may also provide that camping and\nrecreational facilities shall be acquired, constructed, enlarged or improved,\nand paid for under the supervision and approval of consulting engineers employed\nor designated by the Director, in the name of the Commonwealth, and satisfactory\nto the original purchasers of the bonds issued. The trust indenture may further\nrequire that the security given by contractors and by any depository of the\nproceeds of the bonds or revenues of the camping and recreational facilities or\nother moneys pertaining to the facilities be satisfactory to the purchasers. It\nshall be lawful for any bank or trust company incorporated under the laws of\nthis Commonwealth to act as depository and to furnish indemnifying bonds or to\npledge securities required by the Director. Such indenture may set forth the\nrights and remedies of the bondholders and of the trustee, and may restrict the\nindividual right of action of bondholders as is customary in trust indentures\nsecuring bonds and debentures of corporations.\n\nIn addition, the indenture may contain other provisions that the Director deems\nreasonable and proper for the security of the bondholders.\n\nHISTORY: Code 1950, \u00a7 10-105; 1986, c. 498; 1988, c. 891.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}