Code of Virginia - Title 23 Educational Institutions - Chapter 3.2 Virginia College Building Authority
- 23-30.23 Title
This chapter shall be known and may be cited as the "Virginia College Building Authority Act of 1966." (1964, c. 607; 1966, c. 685.) ...
- 23-30.24 Legislative declaration; definitions
It is hereby found, determined and declared that the providing of funds for the construction of projects of capital improvement at educational institutions within this ...
- 23-30.25 Creation and organization of Authority; surety bonds
The Virginia College Building Authority is hereby created as a public body corporate and as a political subdivision and an agency and instrumentality of the ...
- 23-30.26 Administration of assets, moneys or obligations
The Authority shall manage and administer as hereinafter provided all assets, moneys or obligations that may be set aside and transferred to it by the ...
- 23-30.27 Purchase and sale of bonds or other obligations of educational institutions
The Authority is authorized to purchase, with any funds of the Authority available for such purpose, at public or private sale and for such price ...
- 23-30.27:1 Acquisition and disposition of equipment
A. The Authority is authorized to acquire equipment or any interest therein by purchase, exchange, gift, lease or otherwise, to sell, exchange, donate, convey, lease ...
- 23-30.28 Bonds of Authority generally
In order to provide funds for the purchase of educational institution bonds as authorized by § 23-30.27, to provide funds for the acquisition of equipment ...
- 23-30.29 Security for bonds
In the discretion of the Authority, any bonds issued under the provisions of this chapter may be secured by a trust indenture by and between ...
- 23-30.29:1 Reserve fund; limitations
A. If the Authority deems it proper to create a reserve fund or funds from bond proceeds or other funds of the Authority to support ...
- 23-30.29:2 Educational institutions' pledge of tuition, fees, etc
In order to provide funds for the repayment of bonds issued by the Authority either (i) for the purchase of any educational institution's bonds or ...
- 23-30.29:3 Investigation by Governor of alleged defaults; withholding of state funds from defaulting instituti...
A. Whenever it appears to the Governor from an affidavit filed with him by the paying agent for the bonds issued by the Authority that ...
- 23-30.30 Investment of funds
Any moneys or funds held by the Authority or by the trustee under any trust indenture under the provisions of this chapter may be invested ...
- 23-30.31 Powers of Authority
In order to enable the Authority to carry out the purposes for which it is established, the Authority is vested with the powers of a ...
- 23-30.32 Enforcement of rights and duties by bondholder or trustee under trust indenture
Any holder of bonds issued under the provisions of this chapter or any of the coupons appertaining thereto, and the trustee under any trust indenture, ...
- 23-30.33 Exemption of bonds from taxation
The bonds issued by the Authority under the provisions of this chapter, their transfer and the income therefrom, including any profit made on the sale ...
- 23-30.34 Bonds made lawful investments
All bonds issued by the Authority under the provisions of this chapter are hereby made securities in which all public officers and bodies of the ...
- 23-30.35 Action by Authority may be authorized by resolution
Any action taken by the Authority under the provisions of this chapter may be authorized by resolution at any regular or special meeting, and each ...
- 23-30.36 Annual report; examination of records, books and accounts
The Authority shall submit an annual report to the Governor and General Assembly on or before November 1 of each year. Such report shall contain, ...
- 23-30.36:1 Annual audit
The Auditor of Public Accounts, or his legally authorized representatives, shall annually audit the accounts of the Authority, and the cost of such audit services ...
- 23-30.37 Chapter liberally construed; provisions severable; powers of Authority not subject to supervision b...
This chapter, being necessary for the welfare of the Commonwealth and its inhabitants, shall be liberally construed to effect the purpose thereof. The provisions of ...
- 23-30.38 Jurisdiction of suits against Authority; service of process
The Circuit Court of the City of Richmond shall have exclusive jurisdiction of any suit brought in Virginia against the Authority, and process in such ...
Last modified: April 3, 2009