{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/15.2-5354.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/15.2-5354.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/15.2-5354.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/15.2-5354.html"}],"law_id":348716,"edition_id":2,"section_id":348716,"structure_id":50000,"section_number":"15.2-5354","catch_line":"Purchase by authority","history":"Code 1950, \u00a7 32-269; 1973, c. 462, \u00a7 15.1-1589; 1979, c. 719; 1997, c. 587.","full_text":"The authority shall have the power out of any funds available therefor to purchase any bonds issued by it. Bonds payable exclusively from the revenues of a designated project or projects shall only be purchased with the revenues available therefor. All bonds so purchased shall be canceled. This section shall not apply to the redemption of bonds.\n\n","order_by":null,"text":{"0":{"id":1299941,"text":"The authority shall have the power out of any funds available therefor to purchase any bonds issued by it. Bonds payable exclusively from the revenues of a designated project or projects shall only be purchased with the revenues available therefor. All bonds so purchased shall be canceled. This section shall not apply to the redemption of bonds.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":50000,"edition_id":2,"name":"Bonds","identifier":"3","label":"article","depth":4,"order_by":3,"parent_id":49997,"metadata":{"child_laws":19,"child_structures":0},"date_created":"2026-08-02 02:19:44","date_modified":"2026-08-02 12:29:52","permalink":{"id":1385999,"object_type":"structure","relational_id":50000,"identifier":"3","token":"15.2\/IV\/53\/3","url":"\/15.2\/IV\/53\/3\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49997,"edition_id":2,"name":"Hospital Authorities","identifier":"53","label":"chapter","depth":3,"order_by":11,"parent_id":49964,"metadata":{"child_laws":70,"child_structures":4},"date_created":"2026-08-02 02:19:39","date_modified":"2026-08-02 12:29:52","permalink":{"id":1385801,"object_type":"structure","relational_id":49997,"identifier":"53","token":"15.2\/IV\/53","url":"\/15.2\/IV\/53\/","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":348707,"structure_id":50000,"section_number":"15.2-5346","catch_line":"Authority to issue","url":"\/15.2-5346\/","token":"15.2\/IV\/53\/3\/15.2-5346","metadata":false},{"id":348708,"structure_id":50000,"section_number":"15.2-5347","catch_line":"How payable","url":"\/15.2-5347\/","token":"15.2\/IV\/53\/3\/15.2-5347","metadata":false},{"id":348709,"structure_id":50000,"section_number":"15.2-5348","catch_line":"Commissioners not liable","url":"\/15.2-5348\/","token":"15.2\/IV\/53\/3\/15.2-5348","metadata":false},{"id":348710,"structure_id":50000,"section_number":"15.2-5349","catch_line":"Bond indebtedness","url":"\/15.2-5349\/","token":"15.2\/IV\/53\/3\/15.2-5349","metadata":false},{"id":348712,"structure_id":50000,"section_number":"15.2-5350","catch_line":"Form","url":"\/15.2-5350\/","token":"15.2\/IV\/53\/3\/15.2-5350","metadata":false},{"id":348713,"structure_id":50000,"section_number":"15.2-5351","catch_line":"Sale","url":"\/15.2-5351\/","token":"15.2\/IV\/53\/3\/15.2-5351","metadata":false},{"id":348714,"structure_id":50000,"section_number":"15.2-5352","catch_line":"Interim certificates","url":"\/15.2-5352\/","token":"15.2\/IV\/53\/3\/15.2-5352","metadata":false},{"id":348715,"structure_id":50000,"section_number":"15.2-5353","catch_line":"Signature of former officers","url":"\/15.2-5353\/","token":"15.2\/IV\/53\/3\/15.2-5353","metadata":false},{"id":348716,"structure_id":50000,"section_number":"15.2-5354","catch_line":"Purchase by authority","url":"\/15.2-5354\/","token":"15.2\/IV\/53\/3\/15.2-5354","metadata":false},{"id":348717,"structure_id":50000,"section_number":"15.2-5355","catch_line":"Negotiability","url":"\/15.2-5355\/","token":"15.2\/IV\/53\/3\/15.2-5355","metadata":false},{"id":348718,"structure_id":50000,"section_number":"15.2-5356","catch_line":"Provisions of bonds and trust indentures","url":"\/15.2-5356\/","token":"15.2\/IV\/53\/3\/15.2-5356","metadata":false},{"id":348719,"structure_id":50000,"section_number":"15.2-5357","catch_line":"Further provisions as to trust indenture or bond resolution; security required of depository of proceeds of bonds","url":"\/15.2-5357\/","token":"15.2\/IV\/53\/3\/15.2-5357","metadata":false},{"id":348720,"structure_id":50000,"section_number":"15.2-5358","catch_line":"Fees, rents and charges for use of project and facilities; sinking fund","url":"\/15.2-5358\/","token":"15.2\/IV\/53\/3\/15.2-5358","metadata":false},{"id":348721,"structure_id":50000,"section_number":"15.2-5359","catch_line":"Moneys received deemed trust funds","url":"\/15.2-5359\/","token":"15.2\/IV\/53\/3\/15.2-5359","metadata":false},{"id":348723,"structure_id":50000,"section_number":"15.2-5360","catch_line":"Protection and enforcement of rights and duties under chapter","url":"\/15.2-5360\/","token":"15.2\/IV\/53\/3\/15.2-5360","metadata":false},{"id":348724,"structure_id":50000,"section_number":"15.2-5361","catch_line":"Exemption from taxation","url":"\/15.2-5361\/","token":"15.2\/IV\/53\/3\/15.2-5361","metadata":false},{"id":348725,"structure_id":50000,"section_number":"15.2-5362","catch_line":"Bonds legal investments; deposit with public agencies","url":"\/15.2-5362\/","token":"15.2\/IV\/53\/3\/15.2-5362","metadata":false},{"id":348726,"structure_id":50000,"section_number":"15.2-5363","catch_line":"Chapter supplemental; application of other laws; consent of local governing bodies or other agencies not required","url":"\/15.2-5363\/","token":"15.2\/IV\/53\/3\/15.2-5363","metadata":false},{"id":348727,"structure_id":50000,"section_number":"15.2-5364","catch_line":"Liberal construction","url":"\/15.2-5364\/","token":"15.2\/IV\/53\/3\/15.2-5364","metadata":false}],"previous_section":{"id":348715,"structure_id":50000,"section_number":"15.2-5353","catch_line":"Signature of former officers","url":"\/15.2-5353\/","token":"15.2\/IV\/53\/3\/15.2-5353","metadata":false},"next_section":{"id":348717,"structure_id":50000,"section_number":"15.2-5355","catch_line":"Negotiability","url":"\/15.2-5355\/","token":"15.2\/IV\/53\/3\/15.2-5355","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-5354\/","history_text":"<p>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 1973, chapter 462; in 1979, chapter 719; in 1997, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?971+ful+CHAP0587\">587<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":1386033,"object_type":"law","relational_id":348716,"identifier":"15.2-5354","token":"15.2\/IV\/53\/3\/15.2-5354","url":"\/15.2-5354\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/15.2-5354\/","token":"15.2\/IV\/53\/3\/15.2-5354","dublin_core":{"Title":"Purchase by authority","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-5354","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>The <span class=\"dictionary\">authority<\/span> shall have the power out of any funds available therefor to purchase any <span class=\"dictionary\"><span class=\"dictionary\">bonds<\/span><\/span> issued by it. <span class=\"dictionary\"><span class=\"dictionary\">Bonds<\/span><\/span> payable exclusively from the revenues of a designated <span class=\"dictionary\">project<\/span> or <span class=\"dictionary\">projects<\/span> shall only be purchased with the revenues available therefor. All <span class=\"dictionary\"><span class=\"dictionary\">bonds<\/span><\/span> so purchased shall be canceled. This section shall not apply to the <span class=\"dictionary\">redemption<\/span> of <span class=\"dictionary\"><span class=\"dictionary\">bonds<\/span><\/span>.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nPURCHASE BY AUTHORITY (\u00a7 15.2-5354)\n\nThe authority shall have the power out of any funds available therefor to\npurchase any bonds issued by it. Bonds payable exclusively from the revenues of\na designated project or projects shall only be purchased with the revenues\navailable therefor. All bonds so purchased shall be canceled. This section shall\nnot apply to the redemption of bonds.\n\nHISTORY: Code 1950, \u00a7 32-269; 1973, c. 462, \u00a7 15.1-1589; 1979, c. 719; 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"}}