15.2-2612 - Dating; rate of interest; maturity; denomination; place of payment.
§ 15.2-2612. Dating; rate of interest; maturity; denomination; place ofpayment.
The bonds of a locality may be dated, may mature at such time or times notexceeding forty years from their date or dates, may be subject to redemptionor repurchase, at such price or prices and under such terms and conditions,and may contain such other provisions, all as determined before theirissuance by the governing body or in such manner as the governing body mayprovide. The bonds may bear interest payable at such time or times and atsuch rate or rates as determined by the governing body or in such manner asthe governing body may provide, including the determination by reference toindices or formulas or by agents designated by the governing body underguidelines established by it. The governing body may fix the denomination ordenominations of the bonds and the place or places of payment.
(Code 1950, § 15-666.41; 1958, c. 640; 1962, cc. 496, 623, § 15.1-200; 1984,c. 451; 1991, c. 668, § 15.1-227.14; 1997, c. 587.)