{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/15.2-5431.30.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/15.2-5431.30.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/15.2-5431.30.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/15.2-5431.30.html"}],"law_id":348815,"edition_id":2,"section_id":348815,"structure_id":50004,"section_number":"15.2-5431.30","catch_line":"Refunding bonds","history":"2003, c. 643.","full_text":"An authority may provide by resolution for the issuance of revenue refunding bonds of the authority to refund any revenue bonds outstanding and issued under this chapter, whether or not such outstanding bonds have matured or are then subject to redemption. Proceeds of such revenue refunding bonds may be used to discharge the revenue bonds, or such revenue refunding bonds may be exchanged for the revenue bonds. Each such authority may provide by resolution for the issuance of a single issue of revenue bonds of the authority for the combined purposes of (i) paying the cost of any project or the improvement, extension, addition or reconstruction thereof, and (ii) refunding outstanding revenue bonds of the authority which have been issued under the provisions of this chapter, whether or not such outstanding bonds have matured or are then subject to redemption. The issuance of such bonds, the maturities and other details thereof, the rights and remedies of the bondholders, and the rights, powers, privileges, duties and obligations of the authority with respect to such bonds, shall be governed by the foregoing provisions of this chapter to the extent that they are applicable.\n\n","order_by":null,"text":{"0":{"id":1300239,"text":"An authority may provide by resolution for the issuance of revenue refunding bonds of the authority to refund any revenue bonds outstanding and issued under this chapter, whether or not such outstanding bonds have matured or are then subject to redemption. Proceeds of such revenue refunding bonds may be used to discharge the revenue bonds, or such revenue refunding bonds may be exchanged for the revenue bonds. Each such authority may provide by resolution for the issuance of a single issue of revenue bonds of the authority for the combined purposes of (i) paying the cost of any project or the improvement, extension, addition or reconstruction thereof, and (ii) refunding outstanding revenue bonds of the authority which have been issued under the provisions of this chapter, whether or not such outstanding bonds have matured or are then subject to redemption. The issuance of such bonds, the maturities and other details thereof, the rights and remedies of the bondholders, and the rights, powers, privileges, duties and obligations of the authority with respect to such bonds, shall be governed by the foregoing provisions of this chapter to the extent that they are applicable.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":50004,"edition_id":2,"name":"Virginia Wireless Service Authorities Act","identifier":"54.1","label":"chapter","depth":3,"order_by":14,"parent_id":49964,"metadata":{"child_laws":40,"child_structures":0},"date_created":"2026-08-02 02:19:53","date_modified":"2026-08-02 12:29:53","permalink":{"id":1386319,"object_type":"structure","relational_id":50004,"identifier":"54.1","token":"15.2\/IV\/54.1","url":"\/15.2\/IV\/54.1\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49964,"edition_id":2,"name":"Other Governmental Entities","identifier":"IV","label":"subtitle","depth":2,"order_by":4,"parent_id":49831,"metadata":{"child_laws":721,"child_structures":68},"date_created":"2026-08-02 02:19:12","date_modified":"2026-08-02 12:29:48","permalink":{"id":1384899,"object_type":"structure","relational_id":49964,"identifier":"IV","token":"15.2\/IV","url":"\/15.2\/IV\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49831,"edition_id":2,"name":"Counties, Cities and Towns","identifier":"15.2","label":"title","depth":1,"order_by":46,"parent_id":null,"metadata":{"child_laws":2297,"child_structures":225},"date_created":"2026-08-02 02:16:22","date_modified":"2026-08-02 12:29:22","permalink":{"id":1378281,"object_type":"structure","relational_id":49831,"identifier":"15.2","token":"15.2","url":"\/15.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":348792,"structure_id":50004,"section_number":"15.2-5431.1","catch_line":"Title of chapter; construction","url":"\/15.2-5431.1\/","token":"15.2\/IV\/54.1\/15.2-5431.1","metadata":false},{"id":348793,"structure_id":50004,"section_number":"15.2-5431.10","catch_line":"Members of authority board; chief administrative or executive officer","url":"\/15.2-5431.10\/","token":"15.2\/IV\/54.1\/15.2-5431.10","metadata":{"court_decisions":{"0":{"name":"Frank Marshall Smith, II v. Gary Larrowe","case_number":"1722243","citation":null,"date":"2025-12-02","url":"https:\/\/www.courtlistener.com\/opinion\/10745864\/frank-marshall-smith-ii-v-gary-larrowe\/","abstract":" .\u202f.\u202f. COURT OF APPEALS OF VIRGINIA .\u202f.\u202f. ","court_html":"<abbr title=\"Court of Appeals\">COA<\/abbr>"}}}},{"id":348794,"structure_id":50004,"section_number":"15.2-5431.11","catch_line":"Powers of authority","url":"\/15.2-5431.11\/","token":"15.2\/IV\/54.1\/15.2-5431.11","metadata":{"court_decisions":{"0":{"name":"Frank Marshall Smith, II v. Gary Larrowe","case_number":"1722243","citation":null,"date":"2025-12-02","url":"https:\/\/www.courtlistener.com\/opinion\/10745864\/frank-marshall-smith-ii-v-gary-larrowe\/","abstract":" .\u202f.\u202f. COURT OF APPEALS OF VIRGINIA .\u202f.\u202f. ","court_html":"<abbr title=\"Court of Appeals\">COA<\/abbr>"}}}},{"id":348795,"structure_id":50004,"section_number":"15.2-5431.12","catch_line":"Contracts relating to use of systems","url":"\/15.2-5431.12\/","token":"15.2\/IV\/54.1\/15.2-5431.12","metadata":false},{"id":348796,"structure_id":50004,"section_number":"15.2-5431.13","catch_line":"Insurance for employees","url":"\/15.2-5431.13\/","token":"15.2\/IV\/54.1\/15.2-5431.13","metadata":{"court_decisions":""}},{"id":348797,"structure_id":50004,"section_number":"15.2-5431.14","catch_line":"Issuance of revenue bonds","url":"\/15.2-5431.14\/","token":"15.2\/IV\/54.1\/15.2-5431.14","metadata":{"court_decisions":""}},{"id":348798,"structure_id":50004,"section_number":"15.2-5431.15","catch_line":"Time for contesting validity of proposed bond issue; when bonds presumed valid","url":"\/15.2-5431.15\/","token":"15.2\/IV\/54.1\/15.2-5431.15","metadata":false},{"id":348799,"structure_id":50004,"section_number":"15.2-5431.16","catch_line":"Proceeds of bonds","url":"\/15.2-5431.16\/","token":"15.2\/IV\/54.1\/15.2-5431.16","metadata":{"court_decisions":""}},{"id":348800,"structure_id":50004,"section_number":"15.2-5431.17","catch_line":"Interim receipts and temporary bonds; bonds mutilated, lost or destroyed","url":"\/15.2-5431.17\/","token":"15.2\/IV\/54.1\/15.2-5431.17","metadata":false},{"id":348801,"structure_id":50004,"section_number":"15.2-5431.18","catch_line":"Provisions of chapter only requirements for issue","url":"\/15.2-5431.18\/","token":"15.2\/IV\/54.1\/15.2-5431.18","metadata":false},{"id":348802,"structure_id":50004,"section_number":"15.2-5431.19","catch_line":"Limitations in bond resolution or trust agreement","url":"\/15.2-5431.19\/","token":"15.2\/IV\/54.1\/15.2-5431.19","metadata":false},{"id":348803,"structure_id":50004,"section_number":"15.2-5431.2","catch_line":"Definitions","url":"\/15.2-5431.2\/","token":"15.2\/IV\/54.1\/15.2-5431.2","metadata":{"court_decisions":""}},{"id":348804,"structure_id":50004,"section_number":"15.2-5431.20","catch_line":"Bonds not debts of Commonwealth or participating political subdivision","url":"\/15.2-5431.20\/","token":"15.2\/IV\/54.1\/15.2-5431.20","metadata":false},{"id":348805,"structure_id":50004,"section_number":"15.2-5431.21","catch_line":"Exemption from taxation","url":"\/15.2-5431.21\/","token":"15.2\/IV\/54.1\/15.2-5431.21","metadata":false},{"id":348806,"structure_id":50004,"section_number":"15.2-5431.22","catch_line":"Trust agreement; bond resolution","url":"\/15.2-5431.22\/","token":"15.2\/IV\/54.1\/15.2-5431.22","metadata":false},{"id":348807,"structure_id":50004,"section_number":"15.2-5431.23","catch_line":"Disposition of unclaimed funds due on matured bonds or coupons","url":"\/15.2-5431.23\/","token":"15.2\/IV\/54.1\/15.2-5431.23","metadata":{"court_decisions":""}},{"id":348808,"structure_id":50004,"section_number":"15.2-5431.24","catch_line":"Contracts concerning interest rates, currency, cash flow and other basis","url":"\/15.2-5431.24\/","token":"15.2\/IV\/54.1\/15.2-5431.24","metadata":false},{"id":348809,"structure_id":50004,"section_number":"15.2-5431.25","catch_line":"Rates and charges","url":"\/15.2-5431.25\/","token":"15.2\/IV\/54.1\/15.2-5431.25","metadata":{"court_decisions":""}},{"id":348810,"structure_id":50004,"section_number":"15.2-5431.26","catch_line":"Enforcement of charges","url":"\/15.2-5431.26\/","token":"15.2\/IV\/54.1\/15.2-5431.26","metadata":false},{"id":348811,"structure_id":50004,"section_number":"15.2-5431.27","catch_line":"Lien for charges","url":"\/15.2-5431.27\/","token":"15.2\/IV\/54.1\/15.2-5431.27","metadata":{"court_decisions":""}},{"id":348812,"structure_id":50004,"section_number":"15.2-5431.28","catch_line":"Trust funds","url":"\/15.2-5431.28\/","token":"15.2\/IV\/54.1\/15.2-5431.28","metadata":false},{"id":348813,"structure_id":50004,"section_number":"15.2-5431.29","catch_line":"Bondholder's remedies","url":"\/15.2-5431.29\/","token":"15.2\/IV\/54.1\/15.2-5431.29","metadata":{"court_decisions":""}},{"id":348814,"structure_id":50004,"section_number":"15.2-5431.3","catch_line":"Creation of authority","url":"\/15.2-5431.3\/","token":"15.2\/IV\/54.1\/15.2-5431.3","metadata":false},{"id":348815,"structure_id":50004,"section_number":"15.2-5431.30","catch_line":"Refunding bonds","url":"\/15.2-5431.30\/","token":"15.2\/IV\/54.1\/15.2-5431.30","metadata":{"court_decisions":""}},{"id":348816,"structure_id":50004,"section_number":"15.2-5431.31","catch_line":"Purchase in open market or otherwise","url":"\/15.2-5431.31\/","token":"15.2\/IV\/54.1\/15.2-5431.31","metadata":false},{"id":348817,"structure_id":50004,"section_number":"15.2-5431.32","catch_line":"Investment in bonds","url":"\/15.2-5431.32\/","token":"15.2\/IV\/54.1\/15.2-5431.32","metadata":false},{"id":348818,"structure_id":50004,"section_number":"15.2-5431.33","catch_line":"Financial report; authority budget; audit","url":"\/15.2-5431.33\/","token":"15.2\/IV\/54.1\/15.2-5431.33","metadata":{"court_decisions":""}},{"id":348819,"structure_id":50004,"section_number":"15.2-5431.34","catch_line":"Use of state land","url":"\/15.2-5431.34\/","token":"15.2\/IV\/54.1\/15.2-5431.34","metadata":{"court_decisions":""}},{"id":348820,"structure_id":50004,"section_number":"15.2-5431.35","catch_line":"Powers of localities to make grants and conveyances to and contracts with authority","url":"\/15.2-5431.35\/","token":"15.2\/IV\/54.1\/15.2-5431.35","metadata":{"court_decisions":""}},{"id":348821,"structure_id":50004,"section_number":"15.2-5431.35:1","catch_line":"Creating or joining more than one authority","url":"\/15.2-5431.35_1\/","token":"15.2\/IV\/54.1\/15.2-5431.35_1","metadata":{"court_decisions":""}},{"id":348822,"structure_id":50004,"section_number":"15.2-5431.36","catch_line":"Liability of members or officers","url":"\/15.2-5431.36\/","token":"15.2\/IV\/54.1\/15.2-5431.36","metadata":{"court_decisions":{"0":{"name":"Frank Marshall Smith, II v. Gary Larrowe","case_number":"1722243","citation":null,"date":"2025-12-02","url":"https:\/\/www.courtlistener.com\/opinion\/10745864\/frank-marshall-smith-ii-v-gary-larrowe\/","abstract":" .\u202f.\u202f. COURT OF APPEALS OF VIRGINIA .\u202f.\u202f. ","court_html":"<abbr title=\"Court of Appeals\">COA<\/abbr>"}}}},{"id":348823,"structure_id":50004,"section_number":"15.2-5431.37","catch_line":"Provisions of chapter cumulative; construction","url":"\/15.2-5431.37\/","token":"15.2\/IV\/54.1\/15.2-5431.37","metadata":false},{"id":348824,"structure_id":50004,"section_number":"15.2-5431.4","catch_line":"Resolution creating authority to include articles of incorporation","url":"\/15.2-5431.4\/","token":"15.2\/IV\/54.1\/15.2-5431.4","metadata":false},{"id":348825,"structure_id":50004,"section_number":"15.2-5431.5","catch_line":"Advertisement of resolution and notice of hearing","url":"\/15.2-5431.5\/","token":"15.2\/IV\/54.1\/15.2-5431.5","metadata":false},{"id":348826,"structure_id":50004,"section_number":"15.2-5431.6","catch_line":"Hearing; referendum","url":"\/15.2-5431.6\/","token":"15.2\/IV\/54.1\/15.2-5431.6","metadata":{"court_decisions":""}},{"id":348827,"structure_id":50004,"section_number":"15.2-5431.7","catch_line":"Filing articles of incorporation","url":"\/15.2-5431.7\/","token":"15.2\/IV\/54.1\/15.2-5431.7","metadata":false},{"id":348828,"structure_id":50004,"section_number":"15.2-5431.8","catch_line":"Issuance of certificate or charter","url":"\/15.2-5431.8\/","token":"15.2\/IV\/54.1\/15.2-5431.8","metadata":false},{"id":348829,"structure_id":50004,"section_number":"15.2-5431.8:1","catch_line":"Amendment of articles of incorporation","url":"\/15.2-5431.8_1\/","token":"15.2\/IV\/54.1\/15.2-5431.8_1","metadata":{"court_decisions":""}},{"id":348830,"structure_id":50004,"section_number":"15.2-5431.9","catch_line":"Dissolution and termination of authority","url":"\/15.2-5431.9\/","token":"15.2\/IV\/54.1\/15.2-5431.9","metadata":false},{"id":348831,"structure_id":50004,"section_number":"15.2-5431.9:1","catch_line":"Joinder of another locality or authority; withdrawal from authority","url":"\/15.2-5431.9_1\/","token":"15.2\/IV\/54.1\/15.2-5431.9_1","metadata":{"court_decisions":""}}],"previous_section":{"id":348814,"structure_id":50004,"section_number":"15.2-5431.3","catch_line":"Creation of authority","url":"\/15.2-5431.3\/","token":"15.2\/IV\/54.1\/15.2-5431.3","metadata":false},"next_section":{"id":348816,"structure_id":50004,"section_number":"15.2-5431.31","catch_line":"Purchase in open market or otherwise","url":"\/15.2-5431.31\/","token":"15.2\/IV\/54.1\/15.2-5431.31","metadata":false},"metadata":{"court_decisions":""},"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-5431.30\/","history_text":"<p>This law was first created in 2003. The record of its establishment is cataloged in chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?031+ful+CHAP0643\">643<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":false,"permalink":{"id":1386413,"object_type":"law","relational_id":348815,"identifier":"15.2-5431.30","token":"15.2\/IV\/54.1\/15.2-5431.30","url":"\/15.2-5431.30\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/15.2-5431.30\/","token":"15.2\/IV\/54.1\/15.2-5431.30","dublin_core":{"Title":"Refunding bonds","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-5431.30","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>An <span class=\"dictionary\">authority<\/span> may provide by resolution for the issuance of revenue refunding <span class=\"dictionary\">bonds<\/span> of the <span class=\"dictionary\">authority<\/span> to refund any revenue <span class=\"dictionary\">bonds<\/span> outstanding and issued under this chapter, whether or not such outstanding <span class=\"dictionary\">bonds<\/span> have matured or are then subject to <span class=\"dictionary\">redemption<\/span>. Proceeds of such revenue refunding <span class=\"dictionary\">bonds<\/span> may be used to discharge the revenue <span class=\"dictionary\">bonds<\/span>, or such revenue refunding <span class=\"dictionary\">bonds<\/span> may be exchanged for the revenue <span class=\"dictionary\">bonds<\/span>. Each such <span class=\"dictionary\">authority<\/span> may provide by resolution for the issuance of a single <span class=\"dictionary\">issue<\/span> of revenue <span class=\"dictionary\">bonds<\/span> of the <span class=\"dictionary\">authority<\/span> for the combined purposes of (i) paying the cost of any <span class=\"dictionary\">project<\/span> or the improvement, extension, addition or reconstruction thereof, and (ii) refunding outstanding revenue <span class=\"dictionary\">bonds<\/span> of the <span class=\"dictionary\">authority<\/span> which have been issued under the provisions of this chapter, whether or not such outstanding <span class=\"dictionary\">bonds<\/span> have matured or are then subject to <span class=\"dictionary\">redemption<\/span>. The issuance of such <span class=\"dictionary\">bonds<\/span>, the maturities and other details thereof, the rights and remedies of the bondholders, and the rights, powers, <span class=\"dictionary\">privileges<\/span>, duties and obligations of the <span class=\"dictionary\">authority<\/span> with respect to such <span class=\"dictionary\">bonds<\/span>, shall be governed by the foregoing provisions of this chapter to the extent that they are applicable.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nREFUNDING BONDS (\u00a7 15.2-5431.30)\n\nAn authority may provide by resolution for the issuance of revenue refunding\nbonds of the authority to refund any revenue bonds outstanding and issued under\nthis chapter, whether or not such outstanding bonds have matured or are then\nsubject to redemption. Proceeds of such revenue refunding bonds may be used to\ndischarge the revenue bonds, or such revenue refunding bonds may be exchanged\nfor the revenue bonds. Each such authority may provide by resolution for the\nissuance of a single issue of revenue bonds of the authority for the combined\npurposes of (i) paying the cost of any project or the improvement, extension,\naddition or reconstruction thereof, and (ii) refunding outstanding revenue bonds\nof the authority which have been issued under the provisions of this chapter,\nwhether or not such outstanding bonds have matured or are then subject to\nredemption. The issuance of such bonds, the maturities and other details\nthereof, the rights and remedies of the bondholders, and the rights, powers,\nprivileges, duties and obligations of the authority with respect to such bonds,\nshall be governed by the foregoing provisions of this chapter to the extent that\nthey are applicable.\n\nHISTORY: 2003, c. 643.","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"}}