Virginia § 2.2-2289 Power to issue umbrella bonds

Virginia Statutes

§ 2.2-2289 — Power to issue umbrella bonds

Virginia § 2.2-2289

JurisdictionVirginia

Title 2.2ADMINISTRATION OF GOVERNMENT

Subtitle IORGANIZATION OF STATE GOVERNMENT

Ch. 22AUTHORITIES

Art. 7VIRGINIA SMALL BUSINESS FINANCING AUTHORITY

Part DSTATE AUTHORITIES, BOARDS, COMMISSIONS, COUNCILS, FOUNDATIONS AND OTHER COLLEGIAL BODIES

This text of Virginia § 2.2-2289 (Power to issue umbrella bonds) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 2.2-2289 (2026).

Text

In addition to the powers of the Authority to issue bonds, it may issue bonds, the proceeds of which, after payment of the costs of issuance thereof, shall be used to make loans, no single loan to be in excess of ten million dollars in aggregate principal amount, to finance or refinance the projects of eligible businesses. The Authority shall adopt such rules and regulations as are necessary to carry out the purposes of this section and to provide procedures for the making of such loans and the repayment thereof.

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In addition to the powers of the Authority to issue bonds, it may issue bonds, the proceeds of which, after payment of the costs of issuance thereof, shall be used to make loans, no single loan to be in excess of ten million dollars in aggregate principal amount, to finance or refinance the projects of eligible businesses. The Authority shall adopt such rules and regulations as are necessary to carry out the purposes of this section and to provide procedures for the making of such loans and the repayment thereof.