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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>354009</law_id><section_number>21-274</section_number><catch_line>Resolutions may be part of contract with bondholders</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="58" identifier="21">Drainage, Soil Conservation, Sanitation and Public Facilities Districts</unit><unit label="chapter" level="2" order_by="4" identifier="4">Sanitation Districts Law of 1946 -- Nontidal Waters</unit><unit label="article" level="3" order_by="5" identifier="5">Bonds</unit></structure><text>
						<section><p>Any resolutions of the commission authorizing any <span class="dictionary">bonds</span> may contain provisions, which shall be a part of the <span class="dictionary">contract</span> with the several holders of such <span class="dictionary">bonds</span> and accordingly subject to amendment by mutual agreement of the commission and the holders of all of such <span class="dictionary">bonds</span>, as to:</p></section>
						<section id="1"><p><span class="prefix-number">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 <span class="dictionary">bonds</span> or other <span class="dictionary">bonds</span> of the commission or the payment of expenses of construction, operation or maintenance of the <span class="dictionary">sewage disposal system</span>, including provisions giving priority, notwithstanding any provision or rule of <span class="dictionary">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; <a id="paragraph-1318483" class="section-permalink" href="https://vacode.org/21-274/#1"><i class="fa fa-link"/></a></p></section>
						<section id="2"><p><span class="prefix-number">2.</span> Payment of the principal of or interest on such <span class="dictionary">bonds</span> or other <span class="dictionary">bonds</span> of the commission, and the sources and methods thereof; <a id="paragraph-1318484" class="section-permalink" href="https://vacode.org/21-274/#2"><i class="fa fa-link"/></a></p></section>
						<section id="3"><p><span class="prefix-number">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, <span class="dictionary">disposition</span> and application of the amounts collected; <a id="paragraph-1318485" class="section-permalink" href="https://vacode.org/21-274/#3"><i class="fa fa-link"/></a></p></section>
						<section id="4"><p><span class="prefix-number">4.</span> The setting aside of reserves and sinking funds and the source, regulation, application and <span class="dictionary">disposition</span> thereof; <a id="paragraph-1318486" class="section-permalink" href="https://vacode.org/21-274/#4"><i class="fa fa-link"/></a></p></section>
						<section id="5"><p><span class="prefix-number">5.</span> The determination or definition of the revenues and income of the commission and of the expenses of operation and maintenance of the <span class="dictionary">sewage disposal system</span>; <a id="paragraph-1318487" class="section-permalink" href="https://vacode.org/21-274/#5"><i class="fa fa-link"/></a></p></section>
						<section id="6"><p><span class="prefix-number">6.</span> The use, regulation, operation, maintenance, insurance and <span class="dictionary">disposition</span> of the sewage disposal facilities and other property of the commission; <a id="paragraph-1318488" class="section-permalink" href="https://vacode.org/21-274/#6"><i class="fa fa-link"/></a></p></section>
						<section id="7"><p><span class="prefix-number">7.</span> Restrictions on the power of the commission to limit and regulate the use of the <span class="dictionary">sewage disposal system</span>, facilities and other property of the commission; <a id="paragraph-1318489" class="section-permalink" href="https://vacode.org/21-274/#7"><i class="fa fa-link"/></a></p></section>
						<section id="8"><p><span class="prefix-number">8.</span> Limitations on the purposes to which the proceeds of such <span class="dictionary">bonds</span> or other <span class="dictionary">bonds</span> of the commission may be applied; <a id="paragraph-1318490" class="section-permalink" href="https://vacode.org/21-274/#8"><i class="fa fa-link"/></a></p></section>
						<section id="9"><p><span class="prefix-number">9.</span> The construction and completion of all or any part of the <span class="dictionary">sewage disposal system</span> or any facilities of the commission; <a id="paragraph-1318491" class="section-permalink" href="https://vacode.org/21-274/#9"><i class="fa fa-link"/></a></p></section>
						<section id="10"><p><span class="prefix-number">10.</span> Limitations on the issuance of additional <span class="dictionary">bonds</span> or on the indebtedness of the commission; <a id="paragraph-1318492" class="section-permalink" href="https://vacode.org/21-274/#10"><i class="fa fa-link"/></a></p></section>
						<section id="11"><p><span class="prefix-number">11.</span> The procedure, if any, by which the terms of any <span class="dictionary">contract</span> with the holders of such <span class="dictionary">bonds</span> may be amended or abrogated, the amount of <span class="dictionary">bonds</span> the holders of which must consent thereto, and the manner in which such consent may be given or evidenced; <a id="paragraph-1318493" class="section-permalink" href="https://vacode.org/21-274/#11"><i class="fa fa-link"/></a></p></section>
						<section id="12"><p><span class="prefix-number">12.</span> Payment of costs or expenses incident to the enforcement of such <span class="dictionary">bonds</span> or of the provisions of such resolution or of any <span class="dictionary">contract</span> with the holders of such <span class="dictionary">bonds</span>, in accordance with this article; or <a id="paragraph-1318494" class="section-permalink" href="https://vacode.org/21-274/#12"><i class="fa fa-link"/></a></p></section>
						<section id="13"><p><span class="prefix-number">13.</span> Any other matter which the commission shall determine to be necessary in <span class="dictionary">order</span> to carry out and effectuate the purposes of the commission. <a id="paragraph-1318495" class="section-permalink" href="https://vacode.org/21-274/#13"><i class="fa fa-link"/></a></p></section></text><history>1946, p. 357; Michie Suppl. 1946, &#xA7; 1560iii8.</history><metadata></metadata></law>
