2006 Code of Virginia § 3.1-61 - Competing markets

3.1-61. Competing markets.

So long as any bonds issued under the provisions of this article areoutstanding, no market competing with the market established, maintained andoperated under the provisions of this article shall be constructed by theCommonwealth or a political subdivision thereof, nor shall the Commonwealthor such political subdivision consent to the construction of any such marketwithin the area or areas from which the directors of the authority arenominated, which may adversely affect the revenues of the market, unlessfunds shall have been provided for the redemption of all such outstandingbonds, the interest payable thereon and the premium, if any, payable on theredemption of such bonds.

(Code 1950, 3-79.15; 1954, c. 407; 1966, c. 702.)