§ 23-26

(Repealed effective October 1, 2016) Commonwealth not to limit revenues of institutions

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.


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


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