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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>352464</law_id><section_number>2.2-2298</section_number><catch_line>Authorization of bonds by resolution; contents of bond sale; manner</catch_line><edition url="https://vacode.org/2026/" slug="2026" current="TRUE" last_updated="2026-08-02">2026</edition><structure><unit label="title" level="1" order_by="3" identifier="2.2">Administration of Government</unit><unit label="subtitle" level="2" order_by="1" identifier="I">Organization of State Government</unit><unit label="part" level="3" order_by="4" identifier="D">State Authorities, Boards, Commissions, Councils, Foundations and Other Collegial Bodies</unit><unit label="chapter" level="4" order_by="2" identifier="22">Authorities</unit><unit label="article" level="5" order_by="6" identifier="7">Virginia Small Business Financing Authority</unit></structure><text>
						<section><p>The <span class="dictionary"><span class="dictionary">bonds</span></span> shall be authorized by a resolution of the <span class="dictionary">Board</span>, shall bear such date or dates, and shall mature at such time as such resolution may provide, except that no <span class="dictionary">bond</span> shall mature more than fifty years from the date of <span class="dictionary">issue</span>. The <span class="dictionary"><span class="dictionary">bonds</span></span> shall (i) bear interest at such rates, including variations of such rates; (ii) be in such denominations; (iii) be in such form; (iv) carry such registration <span class="dictionary">privileges</span>; (v) be executed in such manner; (vi) be payable in such medium of payment, at such place; and (vii) be subject to such terms of <span class="dictionary">redemption</span>, including <span class="dictionary">redemption</span> prior to maturity, as the resolution may provide. Except as expressly provided otherwise in this article, the provisions of other <span class="dictionary">laws</span> of the <span class="dictionary">Commonwealth</span> relating to the issuance of revenue <span class="dictionary"><span class="dictionary">bonds</span></span> shall not apply to <span class="dictionary"><span class="dictionary">bonds</span></span> issued by the <span class="dictionary">Authority</span>. <span class="dictionary"><span class="dictionary">Bonds</span></span> of the <span class="dictionary">Authority</span> may be sold by the <span class="dictionary">Authority</span> at public or private sale and at such price as the <span class="dictionary">Authority</span> determines.</p></section></text><history>1984, c. 749, &#xA7; 9-222; 2001, c. 844.</history><metadata></metadata></law>
