CODE OF VIRGINIA

(REPEALED EFFECTIVE OCTOBER 1, 2016) COMMONWEALTH NOT TO LIMIT REVENUES OF
INSTITUTIONS (§ 23-26)

The Commonwealth of Virginia does pledge to and agree with the holders of the
bonds issued by any institution that the Commonwealth will not limit or alter
the rights hereby vested in such institution to establish and collect the fees,
rents and charges, including student building fees and other student fees and to
pledge the same, all as provided for in subdivisions (1), (2), (3) and (4) of
subsection (d) of § 23-19 as may be convenient or necessary to produce
sufficient revenues to meet the expense of maintenance and operation of such
project and such other existing facilities and to fulfill the terms of any
agreements made with the holders of the bonds or in any way to impair the rights
and remedies of such holders, until the bonds, together with interest thereon,
with interest on any unpaid installments of interest, and all costs and expenses
in connection with any action or proceedings by or on behalf of such holders are
fully met and discharged.

HISTORY: 1933, p. 91; 1962, c. 373; 1964, c. 635.