Code of Virginia - Title 62.1 Waters Of The State, Ports And Harbors - Chapter 22 Virginia Water Facilities Revolving Fund
- 62.1-224 Definitions
As used in this chapter, unless a different meaning clearly appears from the context: "Authority" means the Virginia Resources Authority created in Chapter 21 (§ ...
- 62.1-225 Creation and management of Fund
There shall be set apart as a permanent and perpetual fund, to be known as the "Virginia Water Facilities Revolving Fund," sums appropriated to the ...
- 62.1-226 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 ...
- 62.1-227 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 ...
- 62.1-228 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 ...
- 62.1-229 Loans to local governments or other entities
Except as otherwise provided in this chapter, money in the Fund shall be used solely to make loans to local governments or other entities as ...
- 62.1-229.1 Loans for agricultural best management practices
Loans may be made from the Fund, in the Board's discretion, to an individual for the construction of facilities or structures to implement agricultural best ...
- 62.1-229.2 Loans for remediation of contaminated properties
Loans may be made from the Fund, in the Board's discretion, to local governments, public authorities, partnerships or corporations for necessary remediation activities undertaken at ...
- 62.1-229.3 Loans for land conservation
Loans may be made from the Fund, in the Board's discretion, to a local government or a holder as defined in § 10.1-1009 for acquiring ...
- 62.1-230 Grants to local governments
Subject to any restrictions which may apply to the use of money in the Fund, the Board in its discretion may approve the use of ...
- 62.1-230.1 Loans and grants for regional projects, etc
In approving loans and grants, the Board shall give preference to loans and grants for projects that will (i) utilize private industry in operation and ...
- 62.1-231 Pledge of loans to secure bonds of Authority
The Authority is empowered at any time and from time to time to transfer from the Fund to banks or trust companies designated by the ...
- 62.1-231.1 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, ...
- 62.1-231.2 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. ...
- 62.1-232 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 3, 2009