{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/15.2-2431.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/15.2-2431.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/15.2-2431.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/15.2-2431.html"}],"law_id":71439,"edition_id":1,"section_id":71439,"structure_id":13928,"section_number":"15.2-2431","catch_line":"Creation and management of Fund","history":"2010, c. 724.","full_text":"There shall be set apart a permanent and perpetual fund, to be known as the Virginia Infrastructure Project Loan Fund, consisting of such sums that may be appropriated to the Fund by the General Assembly, all receipts by the Fund from loans made by it to local governments, all income from the investment of moneys held in the Fund, and any other sums designated for deposit to the Fund from any source public or private. The Fund shall be administered and managed by the Authority as prescribed in this chapter. The Authority shall establish guidelines regarding the distribution of loans from the Fund and prioritization of such loans, and shall establish interest rates and repayment terms of such loans as provided in this chapter. The Authority may disperse from the Fund its reasonable costs and expenses incurred in the administration and management of the Fund.","order_by":null,"text":{"0":{"id":257550,"text":"There shall be set apart a permanent and perpetual fund, to be known as the Virginia Infrastructure Project Loan Fund, consisting of such sums that may be appropriated to the Fund by the General Assembly, all receipts by the Fund from loans made by it to local governments, all income from the investment of moneys held in the Fund, and any other sums designated for deposit to the Fund from any source public or private. The Fund shall be administered and managed by the Authority as prescribed in this chapter. The Authority shall establish guidelines regarding the distribution of loans from the Fund and prioritization of such loans, and shall establish interest rates and repayment terms of such loans as provided in this chapter. The Authority may disperse from the Fund its reasonable costs and expenses incurred in the administration and management of the Fund.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13928,"edition_id":1,"name":"Virginia Infrastructure Project Loan Fund","identifier":"24.3","label":"chapter","depth":3,"order_by":1,"parent_id":12733,"metadata":{},"date_created":"2026-06-26 03:46:19","date_modified":"2026-06-26 03:46:19","permalink":{"id":155827,"object_type":"structure","relational_id":13928,"identifier":"24.3","token":"15.2\/II\/24.3","url":"\/15.2\/II\/24.3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12733,"edition_id":1,"name":"Powers of Local Government","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12720,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":152369,"object_type":"structure","relational_id":12733,"identifier":"II","token":"15.2\/II","url":"\/15.2\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12720,"edition_id":1,"name":"Counties, Cities and Towns","identifier":"15.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":151279,"object_type":"structure","relational_id":12720,"identifier":"15.2","token":"15.2","url":"\/15.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":63595,"structure_id":13928,"section_number":"15.2-2430","catch_line":"Definitions","url":"\/15.2-2430\/","token":"15.2\/II\/24.3\/15.2-2430","metadata":false},{"id":71439,"structure_id":13928,"section_number":"15.2-2431","catch_line":"Creation and management of Fund","url":"\/15.2-2431\/","token":"15.2\/II\/24.3\/15.2-2431","metadata":false},{"id":66041,"structure_id":13928,"section_number":"15.2-2432","catch_line":"Deposit of money; expenditures; investments","url":"\/15.2-2432\/","token":"15.2\/II\/24.3\/15.2-2432","metadata":false},{"id":85464,"structure_id":13928,"section_number":"15.2-2433","catch_line":"Annual audit","url":"\/15.2-2433\/","token":"15.2\/II\/24.3\/15.2-2433","metadata":false},{"id":79751,"structure_id":13928,"section_number":"15.2-2434","catch_line":"Collection of money due Fund","url":"\/15.2-2434\/","token":"15.2\/II\/24.3\/15.2-2434","metadata":false},{"id":54983,"structure_id":13928,"section_number":"15.2-2435","catch_line":"Loans to local governments","url":"\/15.2-2435\/","token":"15.2\/II\/24.3\/15.2-2435","metadata":false},{"id":82075,"structure_id":13928,"section_number":"15.2-2436","catch_line":"Prioritization of loans","url":"\/15.2-2436\/","token":"15.2\/II\/24.3\/15.2-2436","metadata":false},{"id":57937,"structure_id":13928,"section_number":"15.2-2437","catch_line":"Pledge of loans to secure bonds of Authority","url":"\/15.2-2437\/","token":"15.2\/II\/24.3\/15.2-2437","metadata":false},{"id":83342,"structure_id":13928,"section_number":"15.2-2438","catch_line":"Sale of loans","url":"\/15.2-2438\/","token":"15.2\/II\/24.3\/15.2-2438","metadata":false},{"id":69554,"structure_id":13928,"section_number":"15.2-2439","catch_line":"Powers of the Authority","url":"\/15.2-2439\/","token":"15.2\/II\/24.3\/15.2-2439","metadata":false},{"id":83831,"structure_id":13928,"section_number":"15.2-2440","catch_line":"Liberal construction of chapter","url":"\/15.2-2440\/","token":"15.2\/II\/24.3\/15.2-2440","metadata":false}],"previous_section":{"id":63595,"structure_id":13928,"section_number":"15.2-2430","catch_line":"Definitions","url":"\/15.2-2430\/","token":"15.2\/II\/24.3\/15.2-2430","metadata":false},"next_section":{"id":66041,"structure_id":13928,"section_number":"15.2-2432","catch_line":"Deposit of money; expenditures; investments","url":"\/15.2-2432\/","token":"15.2\/II\/24.3\/15.2-2432","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-2431\/","history_text":"

This law was first created in 2010. The record of its establishment is cataloged in chapter 724<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":false,"permalink":{"id":155833,"object_type":"law","relational_id":71439,"identifier":"15.2-2431","token":"15.2\/II\/24.3\/15.2-2431","url":"\/15.2-2431\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/15.2-2431\/","token":"15.2\/II\/24.3\/15.2-2431","dublin_core":{"Title":"Creation and management of Fund","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-2431","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

There shall be set apart a permanent and perpetual fund<\/span>, to be known as the Virginia Infrastructure Project<\/span> Loan Fund<\/span>, consisting of such sums that may be appropriated to the Fund<\/span> by the General Assembly, all receipts by the Fund<\/span> from loans made by it to local governments<\/span>, all income from the investment of moneys held in the Fund<\/span>, and any other sums designated for deposit to the Fund<\/span> from any source public or private. The Fund<\/span> shall be administered and managed by the Authority<\/span> as prescribed in this chapter. The Authority<\/span> shall establish guidelines regarding the distribution of loans from the Fund<\/span> and prioritization of such loans, and shall establish interest rates and repayment terms of such loans as provided in this chapter. The Authority<\/span> may disperse from the Fund<\/span> its reasonable costs and expenses incurred in the administration and management of the Fund<\/span>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCREATION AND MANAGEMENT OF FUND (\u00a7 15.2-2431)\n\nThere shall be set apart a permanent and perpetual fund, to be known as the\nVirginia Infrastructure Project Loan Fund, consisting of such sums that may be\nappropriated to the Fund by the General Assembly, all receipts by the Fund from\nloans made by it to local governments, all income from the investment of moneys\nheld in the Fund, and any other sums designated for deposit to the Fund from any\nsource public or private. The Fund shall be administered and managed by the\nAuthority as prescribed in this chapter. The Authority shall establish\nguidelines regarding the distribution of loans from the Fund and prioritization\nof such loans, and shall establish interest rates and repayment terms of such\nloans as provided in this chapter. The Authority may disperse from the Fund its\nreasonable costs and expenses incurred in the administration and management of\nthe Fund.\n\nHISTORY: 2010, c. 724.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}