{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/15.2-5431.31.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/15.2-5431.31.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/15.2-5431.31.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/15.2-5431.31.html"}],"law_id":348816,"edition_id":2,"section_id":348816,"structure_id":50004,"section_number":"15.2-5431.31","catch_line":"Purchase in open market or otherwise","history":"2003, c. 643.","full_text":"Provision may be made in the proceedings authorizing refunding revenue bonds for the purchase of the refunded revenue bonds in the open market or pursuant to tenders made from time to time when there is available in the escrow or sinking fund for the payment of the refunded revenue bonds a surplus in an amount or amounts to be fixed in such proceedings.\n\n","order_by":null,"text":{"0":{"id":1300240,"text":"Provision may be made in the proceedings authorizing refunding revenue bonds for the purchase of the refunded revenue bonds in the open market or pursuant to tenders made from time to time when there is available in the escrow or sinking fund for the payment of the refunded revenue bonds a surplus in an amount or amounts to be fixed in such proceedings.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":50004,"edition_id":2,"name":"Virginia Wireless Service Authorities Act","identifier":"54.1","label":"chapter","depth":3,"order_by":14,"parent_id":49964,"metadata":{"child_laws":40,"child_structures":0},"date_created":"2026-08-02 02:19:53","date_modified":"2026-08-02 12:29:53","permalink":{"id":1386319,"object_type":"structure","relational_id":50004,"identifier":"54.1","token":"15.2\/IV\/54.1","url":"\/15.2\/IV\/54.1\/","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":348792,"structure_id":50004,"section_number":"15.2-5431.1","catch_line":"Title of chapter; construction","url":"\/15.2-5431.1\/","token":"15.2\/IV\/54.1\/15.2-5431.1","metadata":false},{"id":348793,"structure_id":50004,"section_number":"15.2-5431.10","catch_line":"Members of authority board; chief administrative or executive officer","url":"\/15.2-5431.10\/","token":"15.2\/IV\/54.1\/15.2-5431.10","metadata":{"court_decisions":{"0":{"name":"Frank Marshall Smith, II v. Gary Larrowe","case_number":"1722243","citation":null,"date":"2025-12-02","url":"https:\/\/www.courtlistener.com\/opinion\/10745864\/frank-marshall-smith-ii-v-gary-larrowe\/","abstract":" .\u202f.\u202f. COURT OF APPEALS OF VIRGINIA .\u202f.\u202f. ","court_html":"<abbr title=\"Court of Appeals\">COA<\/abbr>"}}}},{"id":348794,"structure_id":50004,"section_number":"15.2-5431.11","catch_line":"Powers of authority","url":"\/15.2-5431.11\/","token":"15.2\/IV\/54.1\/15.2-5431.11","metadata":{"court_decisions":{"0":{"name":"Frank Marshall Smith, II v. Gary Larrowe","case_number":"1722243","citation":null,"date":"2025-12-02","url":"https:\/\/www.courtlistener.com\/opinion\/10745864\/frank-marshall-smith-ii-v-gary-larrowe\/","abstract":" .\u202f.\u202f. COURT OF APPEALS OF VIRGINIA .\u202f.\u202f. ","court_html":"<abbr title=\"Court of Appeals\">COA<\/abbr>"}}}},{"id":348795,"structure_id":50004,"section_number":"15.2-5431.12","catch_line":"Contracts relating to use of systems","url":"\/15.2-5431.12\/","token":"15.2\/IV\/54.1\/15.2-5431.12","metadata":false},{"id":348796,"structure_id":50004,"section_number":"15.2-5431.13","catch_line":"Insurance for employees","url":"\/15.2-5431.13\/","token":"15.2\/IV\/54.1\/15.2-5431.13","metadata":{"court_decisions":""}},{"id":348797,"structure_id":50004,"section_number":"15.2-5431.14","catch_line":"Issuance of revenue bonds","url":"\/15.2-5431.14\/","token":"15.2\/IV\/54.1\/15.2-5431.14","metadata":{"court_decisions":""}},{"id":348798,"structure_id":50004,"section_number":"15.2-5431.15","catch_line":"Time for contesting validity of proposed bond issue; when bonds presumed valid","url":"\/15.2-5431.15\/","token":"15.2\/IV\/54.1\/15.2-5431.15","metadata":false},{"id":348799,"structure_id":50004,"section_number":"15.2-5431.16","catch_line":"Proceeds of bonds","url":"\/15.2-5431.16\/","token":"15.2\/IV\/54.1\/15.2-5431.16","metadata":{"court_decisions":""}},{"id":348800,"structure_id":50004,"section_number":"15.2-5431.17","catch_line":"Interim receipts and temporary bonds; bonds mutilated, lost or destroyed","url":"\/15.2-5431.17\/","token":"15.2\/IV\/54.1\/15.2-5431.17","metadata":false},{"id":348801,"structure_id":50004,"section_number":"15.2-5431.18","catch_line":"Provisions of chapter only requirements for issue","url":"\/15.2-5431.18\/","token":"15.2\/IV\/54.1\/15.2-5431.18","metadata":false},{"id":348802,"structure_id":50004,"section_number":"15.2-5431.19","catch_line":"Limitations in bond resolution or trust agreement","url":"\/15.2-5431.19\/","token":"15.2\/IV\/54.1\/15.2-5431.19","metadata":false},{"id":348803,"structure_id":50004,"section_number":"15.2-5431.2","catch_line":"Definitions","url":"\/15.2-5431.2\/","token":"15.2\/IV\/54.1\/15.2-5431.2","metadata":{"court_decisions":""}},{"id":348804,"structure_id":50004,"section_number":"15.2-5431.20","catch_line":"Bonds not debts of Commonwealth or participating political subdivision","url":"\/15.2-5431.20\/","token":"15.2\/IV\/54.1\/15.2-5431.20","metadata":false},{"id":348805,"structure_id":50004,"section_number":"15.2-5431.21","catch_line":"Exemption from taxation","url":"\/15.2-5431.21\/","token":"15.2\/IV\/54.1\/15.2-5431.21","metadata":false},{"id":348806,"structure_id":50004,"section_number":"15.2-5431.22","catch_line":"Trust agreement; bond resolution","url":"\/15.2-5431.22\/","token":"15.2\/IV\/54.1\/15.2-5431.22","metadata":false},{"id":348807,"structure_id":50004,"section_number":"15.2-5431.23","catch_line":"Disposition of unclaimed funds due on matured bonds or coupons","url":"\/15.2-5431.23\/","token":"15.2\/IV\/54.1\/15.2-5431.23","metadata":{"court_decisions":""}},{"id":348808,"structure_id":50004,"section_number":"15.2-5431.24","catch_line":"Contracts concerning interest rates, currency, cash flow and other basis","url":"\/15.2-5431.24\/","token":"15.2\/IV\/54.1\/15.2-5431.24","metadata":false},{"id":348809,"structure_id":50004,"section_number":"15.2-5431.25","catch_line":"Rates and charges","url":"\/15.2-5431.25\/","token":"15.2\/IV\/54.1\/15.2-5431.25","metadata":{"court_decisions":""}},{"id":348810,"structure_id":50004,"section_number":"15.2-5431.26","catch_line":"Enforcement of charges","url":"\/15.2-5431.26\/","token":"15.2\/IV\/54.1\/15.2-5431.26","metadata":false},{"id":348811,"structure_id":50004,"section_number":"15.2-5431.27","catch_line":"Lien for charges","url":"\/15.2-5431.27\/","token":"15.2\/IV\/54.1\/15.2-5431.27","metadata":{"court_decisions":""}},{"id":348812,"structure_id":50004,"section_number":"15.2-5431.28","catch_line":"Trust funds","url":"\/15.2-5431.28\/","token":"15.2\/IV\/54.1\/15.2-5431.28","metadata":false},{"id":348813,"structure_id":50004,"section_number":"15.2-5431.29","catch_line":"Bondholder's remedies","url":"\/15.2-5431.29\/","token":"15.2\/IV\/54.1\/15.2-5431.29","metadata":{"court_decisions":""}},{"id":348814,"structure_id":50004,"section_number":"15.2-5431.3","catch_line":"Creation of authority","url":"\/15.2-5431.3\/","token":"15.2\/IV\/54.1\/15.2-5431.3","metadata":false},{"id":348815,"structure_id":50004,"section_number":"15.2-5431.30","catch_line":"Refunding bonds","url":"\/15.2-5431.30\/","token":"15.2\/IV\/54.1\/15.2-5431.30","metadata":{"court_decisions":""}},{"id":348816,"structure_id":50004,"section_number":"15.2-5431.31","catch_line":"Purchase in open market or otherwise","url":"\/15.2-5431.31\/","token":"15.2\/IV\/54.1\/15.2-5431.31","metadata":false},{"id":348817,"structure_id":50004,"section_number":"15.2-5431.32","catch_line":"Investment in bonds","url":"\/15.2-5431.32\/","token":"15.2\/IV\/54.1\/15.2-5431.32","metadata":false},{"id":348818,"structure_id":50004,"section_number":"15.2-5431.33","catch_line":"Financial report; authority budget; audit","url":"\/15.2-5431.33\/","token":"15.2\/IV\/54.1\/15.2-5431.33","metadata":{"court_decisions":""}},{"id":348819,"structure_id":50004,"section_number":"15.2-5431.34","catch_line":"Use of state land","url":"\/15.2-5431.34\/","token":"15.2\/IV\/54.1\/15.2-5431.34","metadata":{"court_decisions":""}},{"id":348820,"structure_id":50004,"section_number":"15.2-5431.35","catch_line":"Powers of localities to make grants and conveyances to and contracts with authority","url":"\/15.2-5431.35\/","token":"15.2\/IV\/54.1\/15.2-5431.35","metadata":{"court_decisions":""}},{"id":348821,"structure_id":50004,"section_number":"15.2-5431.35:1","catch_line":"Creating or joining more than one authority","url":"\/15.2-5431.35_1\/","token":"15.2\/IV\/54.1\/15.2-5431.35_1","metadata":{"court_decisions":""}},{"id":348822,"structure_id":50004,"section_number":"15.2-5431.36","catch_line":"Liability of members or officers","url":"\/15.2-5431.36\/","token":"15.2\/IV\/54.1\/15.2-5431.36","metadata":{"court_decisions":{"0":{"name":"Frank Marshall Smith, II v. Gary Larrowe","case_number":"1722243","citation":null,"date":"2025-12-02","url":"https:\/\/www.courtlistener.com\/opinion\/10745864\/frank-marshall-smith-ii-v-gary-larrowe\/","abstract":" .\u202f.\u202f. COURT OF APPEALS OF VIRGINIA .\u202f.\u202f. ","court_html":"<abbr title=\"Court of Appeals\">COA<\/abbr>"}}}},{"id":348823,"structure_id":50004,"section_number":"15.2-5431.37","catch_line":"Provisions of chapter cumulative; construction","url":"\/15.2-5431.37\/","token":"15.2\/IV\/54.1\/15.2-5431.37","metadata":false},{"id":348824,"structure_id":50004,"section_number":"15.2-5431.4","catch_line":"Resolution creating authority to include articles of incorporation","url":"\/15.2-5431.4\/","token":"15.2\/IV\/54.1\/15.2-5431.4","metadata":false},{"id":348825,"structure_id":50004,"section_number":"15.2-5431.5","catch_line":"Advertisement of resolution and notice of hearing","url":"\/15.2-5431.5\/","token":"15.2\/IV\/54.1\/15.2-5431.5","metadata":false},{"id":348826,"structure_id":50004,"section_number":"15.2-5431.6","catch_line":"Hearing; referendum","url":"\/15.2-5431.6\/","token":"15.2\/IV\/54.1\/15.2-5431.6","metadata":{"court_decisions":""}},{"id":348827,"structure_id":50004,"section_number":"15.2-5431.7","catch_line":"Filing articles of incorporation","url":"\/15.2-5431.7\/","token":"15.2\/IV\/54.1\/15.2-5431.7","metadata":false},{"id":348828,"structure_id":50004,"section_number":"15.2-5431.8","catch_line":"Issuance of certificate or charter","url":"\/15.2-5431.8\/","token":"15.2\/IV\/54.1\/15.2-5431.8","metadata":false},{"id":348829,"structure_id":50004,"section_number":"15.2-5431.8:1","catch_line":"Amendment of articles of incorporation","url":"\/15.2-5431.8_1\/","token":"15.2\/IV\/54.1\/15.2-5431.8_1","metadata":{"court_decisions":""}},{"id":348830,"structure_id":50004,"section_number":"15.2-5431.9","catch_line":"Dissolution and termination of authority","url":"\/15.2-5431.9\/","token":"15.2\/IV\/54.1\/15.2-5431.9","metadata":false},{"id":348831,"structure_id":50004,"section_number":"15.2-5431.9:1","catch_line":"Joinder of another locality or authority; withdrawal from authority","url":"\/15.2-5431.9_1\/","token":"15.2\/IV\/54.1\/15.2-5431.9_1","metadata":{"court_decisions":""}}],"previous_section":{"id":348815,"structure_id":50004,"section_number":"15.2-5431.30","catch_line":"Refunding bonds","url":"\/15.2-5431.30\/","token":"15.2\/IV\/54.1\/15.2-5431.30","metadata":{"court_decisions":""}},"next_section":{"id":348817,"structure_id":50004,"section_number":"15.2-5431.32","catch_line":"Investment in bonds","url":"\/15.2-5431.32\/","token":"15.2\/IV\/54.1\/15.2-5431.32","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-5431.31\/","history_text":"<p>This law was first created in 2003. The record of its establishment is cataloged in chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?031+ful+CHAP0643\">643<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":false,"permalink":{"id":1386417,"object_type":"law","relational_id":348816,"identifier":"15.2-5431.31","token":"15.2\/IV\/54.1\/15.2-5431.31","url":"\/15.2-5431.31\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/15.2-5431.31\/","token":"15.2\/IV\/54.1\/15.2-5431.31","dublin_core":{"Title":"Purchase in open market or otherwise","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-5431.31","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>Provision may be made in the proceedings authorizing refunding revenue <span class=\"dictionary\">bonds<\/span> for the purchase of the refunded revenue <span class=\"dictionary\">bonds<\/span> in the open market or pursuant to tenders made from time to time when there is available in the escrow or sinking fund for the payment of the refunded revenue <span class=\"dictionary\">bonds<\/span> a surplus in an amount or amounts to be fixed in such proceedings.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nPURCHASE IN OPEN MARKET OR OTHERWISE (\u00a7 15.2-5431.31)\n\nProvision may be made in the proceedings authorizing refunding revenue bonds for\nthe purchase of the refunded revenue bonds in the open market or pursuant to\ntenders made from time to time when there is available in the escrow or sinking\nfund for the payment of the refunded revenue bonds a surplus in an amount or\namounts to be fixed in such proceedings.\n\nHISTORY: 2003, c. 643.","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"}}