Statutes > Virginia Statutes > Title 2.2 - ADMINISTRATION OF GOVERNMENT. > Chapter 50 - Interest on Certain Obligations of Government Instrumentalities (2.2-5000 thru 2.2-5003) > 2.2-5002 - Power to issue obligations not to be denied because interest is subject to federal income taxation.

2.2-5002 - Power to issue obligations not to be denied because interest is subject to federal income taxation.

§ 2.2-5002. Power to issue obligations not to be denied because interest issubject to federal income taxation.

The power of any governmental instrumentality, to issue or have issued on itsbehalf for authorized purposes, bonds, shall not be construed to berestricted or limited solely because the interest thereon is subject, inwhole or in part, directly or indirectly, to federal income taxes.

(1986, c. 137, § 2.1-326.2:1; 2001, c. 844.)