{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/21-274.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/21-274.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/21-274.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/21-274.html"}],"law_id":354009,"edition_id":2,"section_id":354009,"structure_id":50675,"section_number":"21-274","catch_line":"Resolutions may be part of contract with bondholders","history":"1946, p. 357; Michie Suppl. 1946, \u00a7 1560iii8.","full_text":"Any resolutions of the commission authorizing any bonds may contain provisions, which shall be a part of the contract with the several holders of such bonds and accordingly subject to amendment by mutual agreement of the commission and the holders of all of such bonds, as to:\n\n1\n\nPledging, setting aside, depositing or trusteeing any or all revenues or funds of the commission to secure the payment of the principal of or interest on such bonds or other bonds of the commission or the payment of expenses of construction, operation or maintenance of the sewage disposal system, including provisions giving priority, notwithstanding any provision or rule of law otherwise to the contrary, to the obligation to perform such contractual provisions to secure payment of such principal or interest over any or all other obligations and liabilities of the commission;\n\n2\n\nPayment of the principal of or interest on such bonds or other bonds of the commission, and the sources and methods thereof;\n\n3\n\nThe fees, rents and other charges to be established and collected by the commission, the collection and enforcement of the same, and the use, disposition and application of the amounts collected;\n\n4\n\nThe setting aside of reserves and sinking funds and the source, regulation, application and disposition thereof;\n\n5\n\nThe determination or definition of the revenues and income of the commission and of the expenses of operation and maintenance of the sewage disposal system;\n\n6\n\nThe use, regulation, operation, maintenance, insurance and disposition of the sewage disposal facilities and other property of the commission;\n\n7\n\nRestrictions on the power of the commission to limit and regulate the use of the sewage disposal system, facilities and other property of the commission;\n\n8\n\nLimitations on the purposes to which the proceeds of such bonds or other bonds of the commission may be applied;\n\n9\n\nThe construction and completion of all or any part of the sewage disposal system or any facilities of the commission;\n\n10\n\nLimitations on the issuance of additional bonds or on the indebtedness of the commission;\n\n11\n\nThe procedure, if any, by which the terms of any contract with the holders of such bonds may be amended or abrogated, the amount of bonds the holders of which must consent thereto, and the manner in which such consent may be given or evidenced;\n\n12\n\nPayment of costs or expenses incident to the enforcement of such bonds or of the provisions of such resolution or of any contract with the holders of such bonds, in accordance with this article; or\n\n13\n\nAny other matter which the commission shall determine to be necessary in order to carry out and effectuate the purposes of the commission.\n\n","order_by":null,"text":{"0":{"id":1318482,"text":"Any resolutions of the commission authorizing any bonds may contain provisions, which shall be a part of the contract with the several holders of such bonds and accordingly subject to amendment by mutual agreement of the commission and the holders of all of such bonds, as to:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":1318483,"text":"Pledging, setting aside, depositing or trusteeing any or all revenues or funds of the commission to secure the payment of the principal of or interest on such bonds or other bonds of the commission or the payment of expenses of construction, operation or maintenance of the sewage disposal system, including provisions giving priority, notwithstanding any provision or rule of law otherwise to the contrary, to the obligation to perform such contractual provisions to secure payment of such principal or interest over any or all other obligations and liabilities of the commission;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":1318484,"text":"Payment of the principal of or interest on such bonds or other bonds of the commission, and the sources and methods thereof;","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":1318485,"text":"The fees, rents and other charges to be established and collected by the commission, the collection and enforcement of the same, and the use, disposition and application of the amounts collected;","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":1318486,"text":"The setting aside of reserves and sinking funds and the source, regulation, application and disposition thereof;","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3","next_prefix":"5"},"5":{"id":1318487,"text":"The determination or definition of the revenues and income of the commission and of the expenses of operation and maintenance of the sewage disposal system;","type":"section","prefixes":["5"],"prefix":"5","entire_prefix":"5","prefix_anchor":"5","level":1,"prior_prefix":"4","next_prefix":"6"},"6":{"id":1318488,"text":"The use, regulation, operation, maintenance, insurance and disposition of the sewage disposal facilities and other property of the commission;","type":"section","prefixes":["6"],"prefix":"6","entire_prefix":"6","prefix_anchor":"6","level":1,"prior_prefix":"5","next_prefix":"7"},"7":{"id":1318489,"text":"Restrictions on the power of the commission to limit and regulate the use of the sewage disposal system, facilities and other property of the commission;","type":"section","prefixes":["7"],"prefix":"7","entire_prefix":"7","prefix_anchor":"7","level":1,"prior_prefix":"6","next_prefix":"8"},"8":{"id":1318490,"text":"Limitations on the purposes to which the proceeds of such bonds or other bonds of the commission may be applied;","type":"section","prefixes":["8"],"prefix":"8","entire_prefix":"8","prefix_anchor":"8","level":1,"prior_prefix":"7","next_prefix":"9"},"9":{"id":1318491,"text":"The construction and completion of all or any part of the sewage disposal system or any facilities of the commission;","type":"section","prefixes":["9"],"prefix":"9","entire_prefix":"9","prefix_anchor":"9","level":1,"prior_prefix":"8","next_prefix":"10"},"10":{"id":1318492,"text":"Limitations on the issuance of additional bonds or on the indebtedness of the commission;","type":"section","prefixes":["10"],"prefix":"10","entire_prefix":"10","prefix_anchor":"10","level":1,"prior_prefix":"9","next_prefix":"11"},"11":{"id":1318493,"text":"The procedure, if any, by which the terms of any contract with the holders of such bonds may be amended or abrogated, the amount of bonds the holders of which must consent thereto, and the manner in which such consent may be given or evidenced;","type":"section","prefixes":["11"],"prefix":"11","entire_prefix":"11","prefix_anchor":"11","level":1,"prior_prefix":"10","next_prefix":"12"},"12":{"id":1318494,"text":"Payment of costs or expenses incident to the enforcement of such bonds or of the provisions of such resolution or of any contract with the holders of such bonds, in accordance with this article; or","type":"section","prefixes":["12"],"prefix":"12","entire_prefix":"12","prefix_anchor":"12","level":1,"prior_prefix":"11","next_prefix":"13"},"13":{"id":1318495,"text":"Any other matter which the commission shall determine to be necessary in order to carry out and effectuate the purposes of the commission.","type":"section","prefixes":["13"],"prefix":"13","entire_prefix":"13","prefix_anchor":"13","level":1,"prior_prefix":"12"}},"ancestry":[{"id":50675,"edition_id":2,"name":"Bonds","identifier":"5","label":"article","depth":3,"order_by":5,"parent_id":50670,"metadata":{"child_laws":15,"child_structures":0},"date_created":"2026-08-02 02:31:11","date_modified":"2026-08-02 12:30:56","permalink":{"id":1407257,"object_type":"structure","relational_id":50675,"identifier":"5","token":"21\/4\/5","url":"\/21\/4\/5\/","edition_id":2,"permalink":0,"preferred":1}},{"id":50670,"edition_id":2,"name":"Sanitation Districts Law of 1946 -- Nontidal Waters","identifier":"4","label":"chapter","depth":2,"order_by":4,"parent_id":50656,"metadata":{"child_laws":68,"child_structures":7},"date_created":"2026-08-02 02:31:06","date_modified":"2026-08-02 12:30:55","permalink":{"id":1407067,"object_type":"structure","relational_id":50670,"identifier":"4","token":"21\/4","url":"\/21\/4\/","edition_id":2,"permalink":0,"preferred":1}},{"id":50656,"edition_id":2,"name":"Drainage, Soil Conservation, Sanitation and Public Facilities Districts","identifier":"21","label":"title","depth":1,"order_by":58,"parent_id":null,"metadata":{"child_laws":358,"child_structures":25},"date_created":"2026-08-02 02:30:49","date_modified":"2026-08-02 12:30:54","permalink":{"id":1406467,"object_type":"structure","relational_id":50656,"identifier":"21","token":"21","url":"\/21\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":354004,"structure_id":50675,"section_number":"21-269","catch_line":"Outstanding bonds not to exceed ten million dollars","url":"\/21-269\/","token":"21\/4\/5\/21-269","metadata":false},{"id":354005,"structure_id":50675,"section_number":"21-270","catch_line":"Election prior to issuance","url":"\/21-270\/","token":"21\/4\/5\/21-270","metadata":false},{"id":354006,"structure_id":50675,"section_number":"21-271","catch_line":"Other matters determined by resolution","url":"\/21-271\/","token":"21\/4\/5\/21-271","metadata":false},{"id":354007,"structure_id":50675,"section_number":"21-272","catch_line":"Form and contents","url":"\/21-272\/","token":"21\/4\/5\/21-272","metadata":false},{"id":354008,"structure_id":50675,"section_number":"21-273","catch_line":"How sold","url":"\/21-273\/","token":"21\/4\/5\/21-273","metadata":false},{"id":354009,"structure_id":50675,"section_number":"21-274","catch_line":"Resolutions may be part of contract with bondholders","url":"\/21-274\/","token":"21\/4\/5\/21-274","metadata":false},{"id":354010,"structure_id":50675,"section_number":"21-275","catch_line":"Negotiability","url":"\/21-275\/","token":"21\/4\/5\/21-275","metadata":false},{"id":354011,"structure_id":50675,"section_number":"21-276","catch_line":"Liability of Commonwealth, county, city or town on bonds","url":"\/21-276\/","token":"21\/4\/5\/21-276","metadata":false},{"id":354012,"structure_id":50675,"section_number":"21-277","catch_line":"No personal liability on bonds","url":"\/21-277\/","token":"21\/4\/5\/21-277","metadata":false},{"id":354013,"structure_id":50675,"section_number":"21-278","catch_line":"Purchase of bonds by commission","url":"\/21-278\/","token":"21\/4\/5\/21-278","metadata":false},{"id":354014,"structure_id":50675,"section_number":"21-279","catch_line":"Bonds constitute legal investments","url":"\/21-279\/","token":"21\/4\/5\/21-279","metadata":false},{"id":354016,"structure_id":50675,"section_number":"21-280","catch_line":"Special remedies of bondholders","url":"\/21-280\/","token":"21\/4\/5\/21-280","metadata":false},{"id":354015,"structure_id":50675,"section_number":"21-280.1","catch_line":"Bonds mutilated, lost or destroyed","url":"\/21-280.1\/","token":"21\/4\/5\/21-280.1","metadata":false},{"id":354017,"structure_id":50675,"section_number":"21-281","catch_line":"Inviolability of rights and remedies","url":"\/21-281\/","token":"21\/4\/5\/21-281","metadata":false},{"id":354018,"structure_id":50675,"section_number":"21-282","catch_line":"Interim certificates","url":"\/21-282\/","token":"21\/4\/5\/21-282","metadata":false}],"previous_section":{"id":354008,"structure_id":50675,"section_number":"21-273","catch_line":"How sold","url":"\/21-273\/","token":"21\/4\/5\/21-273","metadata":false},"next_section":{"id":354010,"structure_id":50675,"section_number":"21-275","catch_line":"Negotiability","url":"\/21-275\/","token":"21\/4\/5\/21-275","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/21-274\/","history_text":false,"references":false,"refers_to":false,"permalink":{"id":1407279,"object_type":"law","relational_id":354009,"identifier":"21-274","token":"21\/4\/5\/21-274","url":"\/21-274\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/21-274\/","token":"21\/4\/5\/21-274","dublin_core":{"Title":"Resolutions may be part of contract with bondholders","Type":"Text","Format":"text\/html","Identifier":"\u00a7 21-274","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Any resolutions of the commission authorizing any bonds<\/span> may contain provisions, which shall be a part of the contract<\/span> with the several holders of such bonds<\/span> and accordingly subject to amendment by mutual agreement of the commission and the holders of all of such bonds<\/span>, as to:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Pledging, setting aside, depositing or trusteeing any or all revenues or funds of the commission to secure the payment of the principal of or interest on such bonds<\/span> or other bonds<\/span> of the commission or the payment of expenses of construction, operation or maintenance of the sewage disposal system<\/span>, including provisions giving priority, notwithstanding any provision or rule of law<\/span> otherwise to the contrary, to the obligation to perform such contractual provisions to secure payment of such principal or interest over any or all other obligations and liabilities of the commission; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Payment of the principal of or interest on such bonds<\/span> or other bonds<\/span> of the commission, and the sources and methods thereof; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> The fees, rents and other charges to be established and collected by the commission, the collection and enforcement of the same, and the use, disposition<\/span> and application of the amounts collected; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> The setting aside of reserves and sinking funds and the source, regulation, application and disposition<\/span> thereof; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> The determination or definition of the revenues and income of the commission and of the expenses of operation and maintenance of the sewage disposal system<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> The use, regulation, operation, maintenance, insurance and disposition<\/span> of the sewage disposal facilities and other property of the commission; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> Restrictions on the power of the commission to limit and regulate the use of the sewage disposal system<\/span>, facilities and other property of the commission; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> Limitations on the purposes to which the proceeds of such bonds<\/span> or other bonds<\/span> of the commission may be applied; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

9.<\/span> The construction and completion of all or any part of the sewage disposal system<\/span> or any facilities of the commission; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

10.<\/span> Limitations on the issuance of additional bonds<\/span> or on the indebtedness of the commission; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

11.<\/span> The procedure, if any, by which the terms of any contract<\/span> with the holders of such bonds<\/span> may be amended or abrogated, the amount of bonds<\/span> the holders of which must consent thereto, and the manner in which such consent may be given or evidenced; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

12.<\/span> Payment of costs or expenses incident to the enforcement of such bonds<\/span> or of the provisions of such resolution or of any contract<\/span> with the holders of such bonds<\/span>, in accordance with this article; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

13.<\/span> Any other matter which the commission shall determine to be necessary in order<\/span> to carry out and effectuate the purposes of the commission. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nRESOLUTIONS MAY BE PART OF CONTRACT WITH BONDHOLDERS (\u00a7 21-274)\n\nAny resolutions of the commission authorizing any bonds may contain provisions,\nwhich shall be a part of the contract with the several holders of such bonds and\naccordingly subject to amendment by mutual agreement of the commission and the\nholders of all of such bonds, as to:\n\n1. Pledging, setting aside, depositing or trusteeing any or all revenues or\nfunds of the commission to secure the payment of the principal of or interest on\nsuch bonds or other bonds of the commission or the payment of expenses of\nconstruction, operation or maintenance of the sewage disposal system, including\nprovisions giving priority, notwithstanding any provision or rule of law\notherwise to the contrary, to the obligation to perform such contractual\nprovisions to secure payment of such principal or interest over any or all other\nobligations and liabilities of the commission;\n\n2. Payment of the principal of or interest on such bonds or other bonds of the\ncommission, and the sources and methods thereof;\n\n3. The fees, rents and other charges to be established and collected by the\ncommission, the collection and enforcement of the same, and the use, disposition\nand application of the amounts collected;\n\n4. The setting aside of reserves and sinking funds and the source, regulation,\napplication and disposition thereof;\n\n5. The determination or definition of the revenues and income of the commission\nand of the expenses of operation and maintenance of the sewage disposal system;\n\n6. The use, regulation, operation, maintenance, insurance and disposition of the\nsewage disposal facilities and other property of the commission;\n\n7. Restrictions on the power of the commission to limit and regulate the use of\nthe sewage disposal system, facilities and other property of the commission;\n\n8. Limitations on the purposes to which the proceeds of such bonds or other\nbonds of the commission may be applied;\n\n9. The construction and completion of all or any part of the sewage disposal\nsystem or any facilities of the commission;\n\n10. Limitations on the issuance of additional bonds or on the indebtedness of\nthe commission;\n\n11. The procedure, if any, by which the terms of any contract with the holders\nof such bonds may be amended or abrogated, the amount of bonds the holders of\nwhich must consent thereto, and the manner in which such consent may be given or\nevidenced;\n\n12. Payment of costs or expenses incident to the enforcement of such bonds or of\nthe provisions of such resolution or of any contract with the holders of such\nbonds, in accordance with this article; or\n\n13. Any other matter which the commission shall determine to be necessary in\norder to carry out and effectuate the purposes of the commission.\n\nHISTORY: 1946, p. 357; Michie Suppl. 1946, \u00a7 1560iii8.","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"}}