{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/2.2-2416.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/2.2-2416.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/2.2-2416.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/2.2-2416.html"}],"law_id":82247,"edition_id":1,"section_id":82247,"structure_id":14716,"section_number":"2.2-2416","catch_line":"Powers and duties of Treasury Board","history":"Code 1950, \u00a7 2-149.2; 1966, c. 677, \u00a7 2.1-179; 1979, c. 215; 1984, c. 720; 1987, cc. 210, 211, 242; 1988, c. 258; 1990, c. 712; 1991, c. 578; 1996, cc. 636, 656; 1998, cc. 39, 784; 2001, c. 844; 2023, cc. 161, 162.","full_text":"The Board shall have the power and duty to:\n\n1\n\nExercise general supervision over all investments of state funds;2\n\nGive advice and supervision in the financing of state buildings and make recommendations, as requested, to the Governor on methods by which capital outlay requirements of the Commonwealth, including its agencies and institutions, may be financed;3\n\nControl and manage all sinking funds and other funds in possession of the Commonwealth in a fiduciary capacity;4\n\nAdminister the Virginia Security for Public Deposits Act (§ 2.2-4400 et seq.);5\n\nMake recommendations to the Governor, notwithstanding any provisions to the contrary, on proposed bond issues or other financing arrangements; approve the terms and structure of bonds or other financing arrangements executed by or for the benefit of educational institutions and state agencies other than independent state authorities or covered institutions as defined in § 23.1-1000, including bonds, public-private partnerships, or other financing arrangements executed by private foundations for housing or other capital projects with respect to which an educational institution that is not a covered institution as defined in § 23.1-1000 is obligated to provide financial or other types of support, and including bonds or other financing arrangements secured by leases, lease purchase agreements, financing leases, capital leases, or other similar agreements; and approve agreements relating to the sale of bonds. Such recommendations to the Governor shall be reported to the Chairmen of the Senate Committee on Finance and Appropriations and the House Committee on Appropriations;6\n\nTake or cause to be taken and omit to take all actions as to any tax exempt bonds for which it has issuing authority, either by statute or by act of the General Assembly, the taking or omission of which is necessary on behalf of the Commonwealth to prevent such bonds from being or becoming subject to federal income taxation or being considered to be “arbitrage bonds” within the meaning of federal tax laws, including compliance with the arbitrage rebate provisions thereof;7\n\nApprove, notwithstanding any provisions to the contrary, the terms and structure of bonds or other financing arrangements executed by or for the benefit of state agencies, boards, and authorities where debt service payments on such bonds or other financing arrangements are expected by such agency, board, or authority to be made, in whole or in part, directly or indirectly, from appropriations of the Commonwealth, including bonds or other financing arrangements secured by leases, lease purchase agreements, financing leases, capital leases or other similar agreements, and agreements relating to the sale of bonds;8\n\nEstablish debt structuring guidelines for bonds or other financing arrangements executed by or for the benefit of all state agencies, institutions, boards, and authorities where the debt service payments on such bonds or other financing arrangements are expected to be made, in whole or in part, directly or indirectly, from appropriations of the Commonwealth, in which guidelines the Board may, in its sole discretion, include such items as it deems necessary and appropriate, including, but not limited to, defining terms such as “terms and structure” and “bonds and other financing arrangements” and exempting from its review and approval pursuant to subdivision 5 or 7 (i) specific bond issues and other financing arrangements, (ii) certain types or classes of bond issues and other financing arrangements, and (iii) bond issues and other financing arrangements that are below a stated dollar amount;9\n\nDo all acts and things necessary or convenient to efficiently carry out and enforce the powers granted to and duties imposed on it by law, including delegating to the State Treasurer or to a committee composed of not less than three members of the Board such powers and duties, as it deems proper, to the extent designated and permitted by the Board;10\n\nExercise such other powers and perform such other duties conferred or imposed upon it by law, including the local government investment pool authorized by Chapter 46 (§ 2.2-4600 et seq.); and11\n\nDo all acts and things necessary or convenient to wind up the affairs of, and protect the Commonwealth’s interests in, such matters that may survive the termination of the State Education Assistance Authority, the Virginia Student Assistance Authorities, and the Virginia Education Loan Authority. Nothing herein shall be construed to amend, enhance, or otherwise alter such commitments, security interests, guarantees, or other pledges entered into by the State Education Assistance Authority, the Virginia Student Assistance Authorities, and the Virginia Education Loan Authority, acting in their official capacity and effective on or before March 31, 1997.","order_by":null,"text":{"0":{"id":294734,"text":"The Board shall have the power and duty to:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":294735,"text":"Exercise general supervision over all investments of state funds;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":294736,"text":"Give advice and supervision in the financing of state buildings and make recommendations, as requested, to the Governor on methods by which capital outlay requirements of the Commonwealth, including its agencies and institutions, may be financed;","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":294737,"text":"Control and manage all sinking funds and other funds in possession of the Commonwealth in a fiduciary capacity;","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":294738,"text":"Administer the Virginia Security for Public Deposits Act (§ 2.2-4400 et seq.);","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3","next_prefix":"5"},"5":{"id":294739,"text":"Make recommendations to the Governor, notwithstanding any provisions to the contrary, on proposed bond issues or other financing arrangements; approve the terms and structure of bonds or other financing arrangements executed by or for the benefit of educational institutions and state agencies other than independent state authorities or covered institutions as defined in § 23.1-1000, including bonds, public-private partnerships, or other financing arrangements executed by private foundations for housing or other capital projects with respect to which an educational institution that is not a covered institution as defined in § 23.1-1000 is obligated to provide financial or other types of support, and including bonds or other financing arrangements secured by leases, lease purchase agreements, financing leases, capital leases, or other similar agreements; and approve agreements relating to the sale of bonds. Such recommendations to the Governor shall be reported to the Chairmen of the Senate Committee on Finance and Appropriations and the House Committee on Appropriations;","type":"section","prefixes":["5"],"prefix":"5","entire_prefix":"5","prefix_anchor":"5","level":1,"prior_prefix":"4","next_prefix":"6"},"6":{"id":294740,"text":"Take or cause to be taken and omit to take all actions as to any tax exempt bonds for which it has issuing authority, either by statute or by act of the General Assembly, the taking or omission of which is necessary on behalf of the Commonwealth to prevent such bonds from being or becoming subject to federal income taxation or being considered to be “arbitrage bonds” within the meaning of federal tax laws, including compliance with the arbitrage rebate provisions thereof;","type":"section","prefixes":["6"],"prefix":"6","entire_prefix":"6","prefix_anchor":"6","level":1,"prior_prefix":"5","next_prefix":"7"},"7":{"id":294741,"text":"Approve, notwithstanding any provisions to the contrary, the terms and structure of bonds or other financing arrangements executed by or for the benefit of state agencies, boards, and authorities where debt service payments on such bonds or other financing arrangements are expected by such agency, board, or authority to be made, in whole or in part, directly or indirectly, from appropriations of the Commonwealth, including bonds or other financing arrangements secured by leases, lease purchase agreements, financing leases, capital leases or other similar agreements, and agreements relating to the sale of bonds;","type":"section","prefixes":["7"],"prefix":"7","entire_prefix":"7","prefix_anchor":"7","level":1,"prior_prefix":"6","next_prefix":"8"},"8":{"id":294742,"text":"Establish debt structuring guidelines for bonds or other financing arrangements executed by or for the benefit of all state agencies, institutions, boards, and authorities where the debt service payments on such bonds or other financing arrangements are expected to be made, in whole or in part, directly or indirectly, from appropriations of the Commonwealth, in which guidelines the Board may, in its sole discretion, include such items as it deems necessary and appropriate, including, but not limited to, defining terms such as “terms and structure” and “bonds and other financing arrangements” and exempting from its review and approval pursuant to subdivision 5 or 7 (i) specific bond issues and other financing arrangements, (ii) certain types or classes of bond issues and other financing arrangements, and (iii) bond issues and other financing arrangements that are below a stated dollar amount;","type":"section","prefixes":["8"],"prefix":"8","entire_prefix":"8","prefix_anchor":"8","level":1,"prior_prefix":"7","next_prefix":"9"},"9":{"id":294743,"text":"Do all acts and things necessary or convenient to efficiently carry out and enforce the powers granted to and duties imposed on it by law, including delegating to the State Treasurer or to a committee composed of not less than three members of the Board such powers and duties, as it deems proper, to the extent designated and permitted by the Board;","type":"section","prefixes":["9"],"prefix":"9","entire_prefix":"9","prefix_anchor":"9","level":1,"prior_prefix":"8","next_prefix":"10"},"10":{"id":294744,"text":"Exercise such other powers and perform such other duties conferred or imposed upon it by law, including the local government investment pool authorized by Chapter 46 (§ 2.2-4600 et seq.); and","type":"section","prefixes":["10"],"prefix":"10","entire_prefix":"10","prefix_anchor":"10","level":1,"prior_prefix":"9","next_prefix":"11"},"11":{"id":294745,"text":"Do all acts and things necessary or convenient to wind up the affairs of, and protect the Commonwealth’s interests in, such matters that may survive the termination of the State Education Assistance Authority, the Virginia Student Assistance Authorities, and the Virginia Education Loan Authority. Nothing herein shall be construed to amend, enhance, or otherwise alter such commitments, security interests, guarantees, or other pledges entered into by the State Education Assistance Authority, the Virginia Student Assistance Authorities, and the Virginia Education Loan Authority, acting in their official capacity and effective on or before March 31, 1997.","type":"section","prefixes":["11"],"prefix":"11","entire_prefix":"11","prefix_anchor":"11","level":1,"prior_prefix":"10"}},"ancestry":[{"id":14716,"edition_id":1,"name":"Treasury Board","identifier":"8","label":"article","depth":5,"order_by":1,"parent_id":12786,"metadata":{},"date_created":"2026-06-26 03:49:30","date_modified":"2026-06-26 03:49:30","permalink":{"id":175045,"object_type":"structure","relational_id":14716,"identifier":"8","token":"2.2\/I\/D\/24\/8","url":"\/2.2\/I\/D\/24\/8\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12786,"edition_id":1,"name":"Boards","identifier":"24","label":"chapter","depth":4,"order_by":1,"parent_id":12785,"metadata":{},"date_created":"2026-06-26 03:43:53","date_modified":"2026-06-26 03:43:53","permalink":{"id":174687,"object_type":"structure","relational_id":12786,"identifier":"24","token":"2.2\/I\/D\/24","url":"\/2.2\/I\/D\/24\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12785,"edition_id":1,"name":"State Authorities, Boards, Commissions, Councils, Foundations and Other Collegial Bodies","identifier":"D","label":"part","depth":3,"order_by":1,"parent_id":12784,"metadata":{},"date_created":"2026-06-26 03:43:53","date_modified":"2026-06-26 03:43:53","permalink":{"id":173913,"object_type":"structure","relational_id":12785,"identifier":"D","token":"2.2\/I\/D","url":"\/2.2\/I\/D\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12784,"edition_id":1,"name":"Organization of State Government","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12749,"metadata":{},"date_created":"2026-06-26 03:43:53","date_modified":"2026-06-26 03:43:53","permalink":{"id":171455,"object_type":"structure","relational_id":12784,"identifier":"I","token":"2.2\/I","url":"\/2.2\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12749,"edition_id":1,"name":"Administration of Government","identifier":"2.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":171453,"object_type":"structure","relational_id":12749,"identifier":"2.2","token":"2.2","url":"\/2.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":56392,"structure_id":14716,"section_number":"2.2-2415","catch_line":"Treasury Board membership; chairman; quorum; reimbursement for expenses","url":"\/2.2-2415\/","token":"2.2\/I\/D\/24\/8\/2.2-2415","metadata":false},{"id":82247,"structure_id":14716,"section_number":"2.2-2416","catch_line":"Powers and duties of Treasury Board","url":"\/2.2-2416\/","token":"2.2\/I\/D\/24\/8\/2.2-2416","metadata":false},{"id":81943,"structure_id":14716,"section_number":"2.2-2417","catch_line":"Approval of financial terms of certain contracts; using agencies to procure certain financial services through Treasury Board","url":"\/2.2-2417\/","token":"2.2\/I\/D\/24\/8\/2.2-2417","metadata":false},{"id":63891,"structure_id":14716,"section_number":"2.2-2418","catch_line":"Use of bond anticipation notes by the Treasury Board","url":"\/2.2-2418\/","token":"2.2\/I\/D\/24\/8\/2.2-2418","metadata":false},{"id":77981,"structure_id":14716,"section_number":"2.2-2419","catch_line":"Issuance of refunding bonds by the Treasury Board","url":"\/2.2-2419\/","token":"2.2\/I\/D\/24\/8\/2.2-2419","metadata":false},{"id":68721,"structure_id":14716,"section_number":"2.2-2420","catch_line":"Combined issuance of general obligation debt by the Treasury Board","url":"\/2.2-2420\/","token":"2.2\/I\/D\/24\/8\/2.2-2420","metadata":false}],"previous_section":{"id":56392,"structure_id":14716,"section_number":"2.2-2415","catch_line":"Treasury Board membership; chairman; quorum; reimbursement for expenses","url":"\/2.2-2415\/","token":"2.2\/I\/D\/24\/8\/2.2-2415","metadata":false},"next_section":{"id":81943,"structure_id":14716,"section_number":"2.2-2417","catch_line":"Approval of financial terms of certain contracts; using agencies to procure certain financial services through Treasury Board","url":"\/2.2-2417\/","token":"2.2\/I\/D\/24\/8\/2.2-2417","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/2.2-2416\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 11 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1966, chapter 677; in 1979, chapter 215; in 1984, chapter 720; in 1987, chapters 210, 211, and 242; in 1988, chapter 258; in 1990, chapter 712; in 1991, chapter 578; in 1996, chapters 636<\/a> and 656<\/a>; in 1998, chapters 39<\/a> and 784<\/a>; in 2001, chapter 844<\/a>; in 2023, chapters 161<\/a> and 162<\/a>.<\/p>","references":[{"id":77983,"section_number":"23.1-1106","catch_line":"Bonds generally","order_by":null,"url":"\/23.1-1106\/"},{"id":67105,"section_number":"23.1-2213","catch_line":"Medical center management; capital projects; leases of property; procurement","order_by":null,"url":"\/23.1-2213\/"},{"id":82093,"section_number":"33.2-1514","catch_line":"Details of Notes","order_by":null,"url":"\/33.2-1514\/"},{"id":57433,"section_number":"33.2-1713","catch_line":"Sale of bonds; bonds as legal investments","order_by":null,"url":"\/33.2-1713\/"}],"refers_to":[{"id":63923,"section_number":"2.2-4400","catch_line":"Short title; declaration of intent; applicability","order_by":null,"url":"\/2.2-4400\/"},{"id":55511,"section_number":"2.2-4600","catch_line":"Short title; definitions","order_by":null,"url":"\/2.2-4600\/"},{"id":84746,"section_number":"23.1-1000","catch_line":"Definitions","order_by":null,"url":"\/23.1-1000\/"}],"permalink":{"id":175051,"object_type":"law","relational_id":82247,"identifier":"2.2-2416","token":"2.2\/I\/D\/24\/8\/2.2-2416","url":"\/2.2-2416\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/2.2-2416\/","token":"2.2\/I\/D\/24\/8\/2.2-2416","dublin_core":{"Title":"Powers and duties of Treasury Board","Type":"Text","Format":"text\/html","Identifier":"\u00a7 2.2-2416","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The Board shall have the power and duty to:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Exercise general supervision over all investments of state funds; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Give advice and supervision in the financing of state buildings and make recommendations, as requested, to the Governor on methods by which capital outlay requirements of the Commonwealth, including its agencies and institutions, may be financed; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Control and manage all sinking funds and other funds in possession<\/span> of the Commonwealth in a fiduciary capacity; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Administer the Virginia Security for Public Deposits Act (§ 2.2-4400<\/a> et seq.); <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Make recommendations to the Governor, notwithstanding any provisions to the contrary, on proposed bond<\/span> issues<\/span> or other financing arrangements; approve the terms and structure of bonds<\/span> or other financing arrangements executed by or for the benefit of educational institutions and state agencies other than independent state authorities or covered institutions as defined in § 23.1-1000<\/a>, including bonds<\/span>, public-private partnerships, or other financing arrangements executed by private foundations for housing or other capital projects with respect to which an educational institution that is not a covered institution as defined in § 23.1-1000<\/a> is obligated to provide financial or other types of support, and including bonds<\/span> or other financing arrangements secured by leases, lease purchase agreements, financing leases, capital leases, or other similar agreements; and approve agreements relating to the sale of bonds<\/span>. Such recommendations to the Governor shall be reported to the Chairmen of the Senate Committee on Finance and Appropriations and the House Committee on Appropriations; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> Take or cause to be taken and omit to take all actions as to any tax exempt bonds<\/span> for which it has issuing authority, either by statute<\/span> or by act of the General Assembly, the taking or omission of which is necessary on behalf of the Commonwealth to prevent such bonds<\/span> from being or becoming subject to federal income taxation or being considered to be “arbitrage bonds<\/span>” within the meaning of federal tax laws<\/span>, including compliance with the arbitrage rebate provisions thereof; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> Approve, notwithstanding any provisions to the contrary, the terms and structure of bonds<\/span> or other financing arrangements executed by or for the benefit of state agencies, boards, and authorities where debt service payments on such bonds<\/span> or other financing arrangements are expected by such agency, board, or authority to be made, in whole or in part, directly or indirectly, from appropriations of the Commonwealth, including bonds<\/span> or other financing arrangements secured by leases, lease purchase agreements, financing leases, capital leases or other similar agreements, and agreements relating to the sale of bonds<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> Establish debt structuring guidelines for bonds<\/span> or other financing arrangements executed by or for the benefit of all state agencies, institutions, boards, and authorities where the debt service payments on such bonds<\/span> or other financing arrangements are expected to be made, in whole or in part, directly or indirectly, from appropriations of the Commonwealth, in which guidelines the Board may, in its sole discretion, include such items as it deems necessary and appropriate, including, but not limited to, defining terms such as “terms and structure” and “bonds<\/span> and other financing arrangements” and exempting from its review and approval pursuant to subdivision 5 or 7 (i) specific bond<\/span> issues<\/span> and other financing arrangements, (ii) certain types or classes of bond<\/span> issues<\/span> and other financing arrangements, and (iii) bond<\/span> issues<\/span> and other financing arrangements that are below a stated dollar amount; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

9.<\/span> Do all acts and things necessary or convenient to efficiently carry out and enforce the powers granted to and duties imposed on it by law<\/span>, including delegating to the State Treasurer or to a committee composed of not less than three members of the Board such powers and duties, as it deems proper, to the extent designated and permitted by the Board; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

10.<\/span> Exercise such other powers and perform such other duties conferred or imposed upon it by law<\/span>, including the local government investment pool authorized by Chapter 46 (§ 2.2-4600<\/a> et seq.); and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

11.<\/span> Do all acts and things necessary or convenient to wind up the affairs of, and protect the Commonwealth’s interests in, such matters that may survive the termination of the State Education Assistance Authority, the Virginia Student Assistance Authorities, and the Virginia Education Loan Authority. Nothing herein shall be construed to amend<\/span>, enhance, or otherwise alter such commitments, security interests, guarantees, or other pledges entered into by the State Education Assistance Authority, the Virginia Student Assistance Authorities, and the Virginia Education Loan Authority, acting in their official capacity and effective on or before March 31, 1997. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPOWERS AND DUTIES OF TREASURY BOARD (\u00a7 2.2-2416)\n\nThe Board shall have the power and duty to:\n\n1. Exercise general supervision over all investments of state funds;\n\n2. Give advice and supervision in the financing of state buildings and make\nrecommendations, as requested, to the Governor on methods by which capital\noutlay requirements of the Commonwealth, including its agencies and\ninstitutions, may be financed;\n\n3. Control and manage all sinking funds and other funds in possession of the\nCommonwealth in a fiduciary capacity;\n\n4. Administer the Virginia Security for Public Deposits Act (§ 2.2-4400 et\nseq.);\n\n5. Make recommendations to the Governor, notwithstanding any provisions to the\ncontrary, on proposed bond issues or other financing arrangements; approve the\nterms and structure of bonds or other financing arrangements executed by or for\nthe benefit of educational institutions and state agencies other than\nindependent state authorities or covered institutions as defined in §\n23.1-1000, including bonds, public-private partnerships, or other financing\narrangements executed by private foundations for housing or other capital\nprojects with respect to which an educational institution that is not a covered\ninstitution as defined in § 23.1-1000 is obligated to provide financial or\nother types of support, and including bonds or other financing arrangements\nsecured by leases, lease purchase agreements, financing leases, capital leases,\nor other similar agreements; and approve agreements relating to the sale of\nbonds. Such recommendations to the Governor shall be reported to the Chairmen of\nthe Senate Committee on Finance and Appropriations and the House Committee on\nAppropriations;\n\n6. Take or cause to be taken and omit to take all actions as to any tax exempt\nbonds for which it has issuing authority, either by statute or by act of the\nGeneral Assembly, the taking or omission of which is necessary on behalf of the\nCommonwealth to prevent such bonds from being or becoming subject to federal\nincome taxation or being considered to be “arbitrage bonds” within\nthe meaning of federal tax laws, including compliance with the arbitrage rebate\nprovisions thereof;\n\n7. Approve, notwithstanding any provisions to the contrary, the terms and\nstructure of bonds or other financing arrangements executed by or for the\nbenefit of state agencies, boards, and authorities where debt service payments\non such bonds or other financing arrangements are expected by such agency,\nboard, or authority to be made, in whole or in part, directly or indirectly,\nfrom appropriations of the Commonwealth, including bonds or other financing\narrangements secured by leases, lease purchase agreements, financing leases,\ncapital leases or other similar agreements, and agreements relating to the sale\nof bonds;\n\n8. Establish debt structuring guidelines for bonds or other financing\narrangements executed by or for the benefit of all state agencies, institutions,\nboards, and authorities where the debt service payments on such bonds or other\nfinancing arrangements are expected to be made, in whole or in part, directly or\nindirectly, from appropriations of the Commonwealth, in which guidelines the\nBoard may, in its sole discretion, include such items as it deems necessary and\nappropriate, including, but not limited to, defining terms such as “terms\nand structure” and “bonds and other financing arrangements”\nand exempting from its review and approval pursuant to subdivision 5 or 7 (i)\nspecific bond issues and other financing arrangements, (ii) certain types or\nclasses of bond issues and other financing arrangements, and (iii) bond issues\nand other financing arrangements that are below a stated dollar amount;\n\n9. Do all acts and things necessary or convenient to efficiently carry out and\nenforce the powers granted to and duties imposed on it by law, including\ndelegating to the State Treasurer or to a committee composed of not less than\nthree members of the Board such powers and duties, as it deems proper, to the\nextent designated and permitted by the Board;\n\n10. Exercise such other powers and perform such other duties conferred or\nimposed upon it by law, including the local government investment pool\nauthorized by Chapter 46 (§ 2.2-4600 et seq.); and\n\n11. Do all acts and things necessary or convenient to wind up the affairs of,\nand protect the Commonwealth’s interests in, such matters that may survive\nthe termination of the State Education Assistance Authority, the Virginia\nStudent Assistance Authorities, and the Virginia Education Loan Authority.\nNothing herein shall be construed to amend, enhance, or otherwise alter such\ncommitments, security interests, guarantees, or other pledges entered into by\nthe State Education Assistance Authority, the Virginia Student Assistance\nAuthorities, and the Virginia Education Loan Authority, acting in their official\ncapacity and effective on or before March 31, 1997.\n\nHISTORY: Code 1950, \u00a7 2-149.2; 1966, c. 677, \u00a7 2.1-179; 1979, c. 215; 1984, c.\n720; 1987, cc. 210, 211, 242; 1988, c. 258; 1990, c. 712; 1991, c. 578; 1996,\ncc. 636, 656; 1998, cc. 39, 784; 2001, c. 844; 2023, cc. 161, 162.","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}}