Code of Virginia - Title 5.1 Aviation - Chapter 2.1 Virginia Airports Revolving Fund
- 5.1-30.1 Definitions
As used in this chapter, unless the context requires otherwise: "Authority" means the Virginia Resources Authority created in Chapter 21 (§ 62.1-197 et seq.) of ...
- 5.1-30.2 Creation and management of Virginia Airports Revolving Fund
There shall be set apart as a permanent and perpetual fund, to be known as the "Virginia Airports Revolving Fund," sums appropriated to the Fund ...
- 5.1-30.3 Deposit of money; expenditures; investments
All money belonging to the Fund shall be deposited in an account or accounts in banks or trust companies organized under the laws of the ...
- 5.1-30.4 Collection of money due Fund
The Authority is empowered to collect, or to authorize others to collect on its behalf, amounts due to the Fund under any loan to a ...
- 5.1-30.5 Loans to local governments
Except as otherwise provided in this chapter, money in the Fund shall be used solely to make loans to local governments to finance or refinance ...
- 5.1-30.6 Pledge of loans to secure bonds of Authority
The Authority is empowered at any time and from time to time to pledge, assign or transfer from the Fund to banks or trust companies ...
- 5.1-30.7 Sale of loans
The Authority is empowered at any time and from time to time to sell, upon such terms and conditions as the Authority shall deem appropriate, ...
- 5.1-30.8 Powers of the Authority
The Authority is authorized to do any act necessary or convenient to the exercise of the powers granted in this chapter or reasonably implied thereby. ...
- 5.1-30.9 Report to the General Assembly and Governor
The Board, in conjunction with the Authority, shall report annually on or before December 1 to the General Assembly and the Governor on all loans ...
- 5.1-30.10 Liberal construction of chapter
The provisions of this chapter shall be liberally construed to the end that its beneficial purposes may be effectuated. Insofar as the provisions of this ...
Last modified: April 2, 2009