{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/15.2-5209.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/15.2-5209.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/15.2-5209.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/15.2-5209.html"}],"law_id":348634,"edition_id":2,"section_id":348634,"structure_id":49996,"section_number":"15.2-5209","catch_line":"Provisions to secure payment of bonds","history":"Code 1950, \u00a7 32-283; 1979, c. 719, \u00a7 15.1-1523; 1994, c. 759; 1997, c. 587.","full_text":"Any commission resolution authorizing the issuance of any bonds may contain provisions, which shall be a part of the contract with the holders of the bonds, (i) pledging any or all revenues of the hospital or health center to secure the payment of the interest on such bonds and to create a sinking fund to retire the principal thereof at maturity; (ii) providing for the granting of a lien on, or the creation of a security interest in, any property, real or personal, of the commission as security for the payment of the principal of, and interest on, such bonds and the due and punctual performance of any agreements made in connection therewith; (iii) providing for such schedule of fees and charges as will produce funds sufficient to pay operating costs and debt service until such bonds are retired; and (iv) prescribing the rights, obligations, powers and duties of the commission, the trustee under any trust indenture under which the bonds are issued, and the bondholders, in connection with or pertaining to such bonds.\n\n","order_by":null,"text":{"0":{"id":1299816,"text":"Any commission resolution authorizing the issuance of any bonds may contain provisions, which shall be a part of the contract with the holders of the bonds, (i) pledging any or all revenues of the hospital or health center to secure the payment of the interest on such bonds and to create a sinking fund to retire the principal thereof at maturity; (ii) providing for the granting of a lien on, or the creation of a security interest in, any property, real or personal, of the commission as security for the payment of the principal of, and interest on, such bonds and the due and punctual performance of any agreements made in connection therewith; (iii) providing for such schedule of fees and charges as will produce funds sufficient to pay operating costs and debt service until such bonds are retired; and (iv) prescribing the rights, obligations, powers and duties of the commission, the trustee under any trust indenture under which the bonds are issued, and the bondholders, in connection with or pertaining to such bonds.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":49996,"edition_id":2,"name":"Hospital or Health Center Commissions","identifier":"52","label":"chapter","depth":3,"order_by":10,"parent_id":49964,"metadata":{"child_laws":20,"child_structures":0},"date_created":"2026-08-02 02:19:36","date_modified":"2026-08-02 12:29:52","permalink":{"id":1385719,"object_type":"structure","relational_id":49996,"identifier":"52","token":"15.2\/IV\/52","url":"\/15.2\/IV\/52\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49964,"edition_id":2,"name":"Other Governmental Entities","identifier":"IV","label":"subtitle","depth":2,"order_by":4,"parent_id":49831,"metadata":{"child_laws":721,"child_structures":68},"date_created":"2026-08-02 02:19:12","date_modified":"2026-08-02 12:29:48","permalink":{"id":1384899,"object_type":"structure","relational_id":49964,"identifier":"IV","token":"15.2\/IV","url":"\/15.2\/IV\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49831,"edition_id":2,"name":"Counties, Cities and Towns","identifier":"15.2","label":"title","depth":1,"order_by":46,"parent_id":null,"metadata":{"child_laws":2297,"child_structures":225},"date_created":"2026-08-02 02:16:22","date_modified":"2026-08-02 12:29:22","permalink":{"id":1378281,"object_type":"structure","relational_id":49831,"identifier":"15.2","token":"15.2","url":"\/15.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":348625,"structure_id":49996,"section_number":"15.2-5200","catch_line":"Creation of commission","url":"\/15.2-5200\/","token":"15.2\/IV\/52\/15.2-5200","metadata":{"court_decisions":{"0":{"name":" .\u202f.\u202f. Short Pump Town Center Community Development Authority v. .\u202f.\u202f. ","case_number":"Record 010456","citation":"554 S.E.2d 441","date":"2001-11-02","url":"https:\/\/www.courtlistener.com\/opinion\/1059406\/short-pump-town-center-community-development-authority-v-hahn\/","abstract":" .\u202f.\u202f. 554 S.E.2d 441 (2001) .\u202f.\u202f. ","court_html":"SCV<\/abbr>"}}}},{"id":348626,"structure_id":49996,"section_number":"15.2-5201","catch_line":"Definitions","url":"\/15.2-5201\/","token":"15.2\/IV\/52\/15.2-5201","metadata":{"court_decisions":{"0":{"name":"Jean Moreau & Assoc. v. Health Center Comm'n","case_number":"101352","citation":null,"date":"2012-01-13","url":"https:\/\/www.courtlistener.com\/opinion\/1057954\/jean-moreau-assoc-v-health-center-commn\/","abstract":" .\u202f.\u202f. Present: Kinser, C.J., Lemons, Goodwyn, Millette, Mims, .\u202f.\u202f. ","court_html":"SCV<\/abbr>"}}}},{"id":348627,"structure_id":49996,"section_number":"15.2-5202","catch_line":"When governing bodies may declare need for commission","url":"\/15.2-5202\/","token":"15.2\/IV\/52\/15.2-5202","metadata":false},{"id":348628,"structure_id":49996,"section_number":"15.2-5203","catch_line":"Effect of adoption of resolution","url":"\/15.2-5203\/","token":"15.2\/IV\/52\/15.2-5203","metadata":false},{"id":348629,"structure_id":49996,"section_number":"15.2-5204","catch_line":"Members of commission; quorum; compensation; expenses; removal and vacancies","url":"\/15.2-5204\/","token":"15.2\/IV\/52\/15.2-5204","metadata":false},{"id":348630,"structure_id":49996,"section_number":"15.2-5205","catch_line":"Powers of commission","url":"\/15.2-5205\/","token":"15.2\/IV\/52\/15.2-5205","metadata":false},{"id":348631,"structure_id":49996,"section_number":"15.2-5206","catch_line":"Appropriations to commission","url":"\/15.2-5206\/","token":"15.2\/IV\/52\/15.2-5206","metadata":false},{"id":348632,"structure_id":49996,"section_number":"15.2-5207","catch_line":"Issuance of bonds by political subdivisions and validation thereof","url":"\/15.2-5207\/","token":"15.2\/IV\/52\/15.2-5207","metadata":{"court_decisions":""}},{"id":348633,"structure_id":49996,"section_number":"15.2-5208","catch_line":"Issuance and sale of bonds","url":"\/15.2-5208\/","token":"15.2\/IV\/52\/15.2-5208","metadata":{"court_decisions":""}},{"id":348634,"structure_id":49996,"section_number":"15.2-5209","catch_line":"Provisions to secure payment of bonds","url":"\/15.2-5209\/","token":"15.2\/IV\/52\/15.2-5209","metadata":{"court_decisions":""}},{"id":348636,"structure_id":49996,"section_number":"15.2-5210","catch_line":"Bonds made legal investments","url":"\/15.2-5210\/","token":"15.2\/IV\/52\/15.2-5210","metadata":{"court_decisions":""}},{"id":348637,"structure_id":49996,"section_number":"15.2-5211","catch_line":"Bonds payable from revenues of hospital or health centers","url":"\/15.2-5211\/","token":"15.2\/IV\/52\/15.2-5211","metadata":false},{"id":348638,"structure_id":49996,"section_number":"15.2-5212","catch_line":"Property of commission exempt from foreclosure or execution sale and judgment lien","url":"\/15.2-5212\/","token":"15.2\/IV\/52\/15.2-5212","metadata":false},{"id":348639,"structure_id":49996,"section_number":"15.2-5213","catch_line":"Receiver","url":"\/15.2-5213\/","token":"15.2\/IV\/52\/15.2-5213","metadata":{"court_decisions":""}},{"id":348640,"structure_id":49996,"section_number":"15.2-5214","catch_line":"Eminent domain","url":"\/15.2-5214\/","token":"15.2\/IV\/52\/15.2-5214","metadata":false},{"id":348641,"structure_id":49996,"section_number":"15.2-5215","catch_line":"Records and reports","url":"\/15.2-5215\/","token":"15.2\/IV\/52\/15.2-5215","metadata":{"court_decisions":""}},{"id":348642,"structure_id":49996,"section_number":"15.2-5216","catch_line":"When court may enter order declaring need for commission no longer exists","url":"\/15.2-5216\/","token":"15.2\/IV\/52\/15.2-5216","metadata":false},{"id":348643,"structure_id":49996,"section_number":"15.2-5217","catch_line":"Finality of order; effect","url":"\/15.2-5217\/","token":"15.2\/IV\/52\/15.2-5217","metadata":{"court_decisions":""}},{"id":348644,"structure_id":49996,"section_number":"15.2-5218","catch_line":"Appeal from order; supersedeas","url":"\/15.2-5218\/","token":"15.2\/IV\/52\/15.2-5218","metadata":{"court_decisions":""}},{"id":348645,"structure_id":49996,"section_number":"15.2-5219","catch_line":"Chapter supplemental; application of other laws; consent of local governing bodies or other agencies not required","url":"\/15.2-5219\/","token":"15.2\/IV\/52\/15.2-5219","metadata":false}],"previous_section":{"id":348633,"structure_id":49996,"section_number":"15.2-5208","catch_line":"Issuance and sale of bonds","url":"\/15.2-5208\/","token":"15.2\/IV\/52\/15.2-5208","metadata":{"court_decisions":""}},"next_section":{"id":348636,"structure_id":49996,"section_number":"15.2-5210","catch_line":"Bonds made legal investments","url":"\/15.2-5210\/","token":"15.2\/IV\/52\/15.2-5210","metadata":{"court_decisions":""}},"metadata":{"court_decisions":""},"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-5209\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 3 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1979, chapter 719; in 1994, chapter 759<\/a>; in 1997, chapter 587<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":1385757,"object_type":"law","relational_id":348634,"identifier":"15.2-5209","token":"15.2\/IV\/52\/15.2-5209","url":"\/15.2-5209\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/15.2-5209\/","token":"15.2\/IV\/52\/15.2-5209","dublin_core":{"Title":"Provisions to secure payment of bonds","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-5209","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Any commission resolution authorizing the issuance of any bonds<\/span> may contain provisions, which shall be a part of the contract<\/span> with the holders of the bonds<\/span>, (i) pledging any or all revenues of the hospital or health center<\/span> to secure the payment of the interest on such bonds<\/span> and to create a sinking fund to retire the principal thereof at maturity; (ii) providing for the granting of a lien<\/span> on, or the creation of a security interest in, any property, real or personal, of the commission as security for the payment of the principal of, and interest on, such bonds<\/span> and the due and punctual performance of any agreements made in connection therewith; (iii) providing for such schedule of fees and charges as will produce funds sufficient to pay operating costs and debt service until such bonds<\/span> are retired; and (iv) prescribing the rights, obligations, powers and duties of the commission, the trustee under any trust indenture under which the bonds<\/span> are issued, and the bondholders, in connection with or pertaining to such bonds<\/span>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPROVISIONS TO SECURE PAYMENT OF BONDS (\u00a7 15.2-5209)\n\nAny commission resolution authorizing the issuance of any bonds may contain\nprovisions, which shall be a part of the contract with the holders of the bonds,\n(i) pledging any or all revenues of the hospital or health center to secure the\npayment of the interest on such bonds and to create a sinking fund to retire the\nprincipal thereof at maturity; (ii) providing for the granting of a lien on, or\nthe creation of a security interest in, any property, real or personal, of the\ncommission as security for the payment of the principal of, and interest on,\nsuch bonds and the due and punctual performance of any agreements made in\nconnection therewith; (iii) providing for such schedule of fees and charges as\nwill produce funds sufficient to pay operating costs and debt service until such\nbonds are retired; and (iv) prescribing the rights, obligations, powers and\nduties of the commission, the trustee under any trust indenture under which the\nbonds are issued, and the bondholders, in connection with or pertaining to such\nbonds.\n\nHISTORY: Code 1950, \u00a7 32-283; 1979, c. 719, \u00a7 15.1-1523; 1994, c. 759; 1997,\nc. 587.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}