Code of Virginia - Title 23 Educational Institutions - Chapter 3.3 Educational Facilities Authority Act

23-30.39 Declaration of policy
It is hereby declared that for the benefit of the people of the Commonwealth, the increase of their commerce, welfare and prosperity and the improvement ...

23-30.40 Title of chapter
This chapter may be cited as the "Educational Facilities Authority Act." (1972, c. 686.) ...

23-30.41 Definitions
In this chapter, the following words and terms shall, unless the context otherwise requires, have the following meanings: (a) "Authority," the Virginia College Building Authority ...

23-30.42 Powers and duties of Authority
The Authority shall assist institutions for higher education in the acquisition, construction, and financing, and the refinancing of projects begun after July 1, 1972, and ...

23-30.43 Expenses of administering chapter
All expenses incurred in carrying out the provisions of this chapter shall be payable solely from funds provided under the authority of this chapter and ...

23-30.44 Acquisition of property
The Authority is authorized and empowered, directly or by and through a participating institution for higher education, as its agent, to acquire by purchase solely ...

23-30.45 Execution of deeds and conveyances
When the principal of and interest on revenue bonds of the Authority issued to finance the cost of a particular project or projects for one ...

23-30.46 Issuance of negotiable notes
The Authority may from time to time issue negotiable notes for any corporate purpose and may from time to time renew any notes by the ...

23-30.47 Issuance of revenue bonds
(a) The Authority may from time to time issue revenue bonds for any corporate purpose and all such revenue bonds, notes, bond anticipation notes or ...

23-30.48 Security for revenue bonds
In the discretion of the Authority any revenue bonds issued under the provisions of this chapter may be secured by a trust agreement by and ...

23-30.49 Revenue bonds not obligations of Commonwealth or political subdivision
Revenue bonds issued under the provisions of this chapter shall not be deemed to constitute a debt or liability of the Commonwealth or of any ...

23-30.50 Rates, rents, fees and charges; sinking fund
The Authority may fix, revise, charge and collect rates, rents, fees and charges for the use of and for the services furnished or to be ...

23-30.51 Moneys received deemed trust funds
All moneys received pursuant to the authority of this chapter, whether as proceeds from the sale of bonds or as revenues, shall be deemed to ...

23-30.52 Remedies of bondholders, etc
Any holder of revenue bonds, notes, bond anticipation notes, other notes or other obligations of the Authority, issued under the provisions of this chapter or ...

23-30.53 Exemption from taxation
The exercise of the powers granted by this chapter will be in all respects for the benefit of the people of this Commonwealth, for the ...

23-30.54 Issuance of refunding bonds
(a) The Authority is hereby authorized to provide for the issuance of revenue bonds of the Authority for the purpose of refunding any revenue bonds ...

23-30.55 Bonds to be legal investments
Bonds issued by �the] Authority under the provisions of this chapter are hereby made securities in which all public officers and public bodies of the ...

23-30.56 Chapter supplemental; application of other laws; Authority not subject to supervision, etc., by oth...
The foregoing sections of this chapter shall be deemed to provide a complete, additional and alternative method for the doing of the things authorized thereby ...

23-30.57 Chapter liberally construed
This chapter, being necessary for the welfare of the Commonwealth and its inhabitants, shall be liberally construed to effect the purposes hereof. (1972, c. 686.) ...

23-30.58 Severability; chapter controls inconsistent laws
The powers granted and the duties imposed in this chapter shall be construed to be independent and severable. If any one or more sections, subsections, ...