{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/2.2-4902.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/2.2-4902.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/2.2-4902.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/2.2-4902.html"}],"law_id":87182,"edition_id":1,"section_id":87182,"structure_id":14932,"section_number":"2.2-4902","catch_line":"Ratings of bonds issued by governmental instrumentalities","history":"1997, c. 381, \u00a7 2.1-304.1:1; 2001, c. 844.","full_text":"A\n\nAs used in this section, unless the context requires a different meaning:\n\t\t\t“Bond” means any bonds, refunding bonds, notes, debentures, interim certificates, or any bond, grant, revenue anticipation notes or any other evidences of indebtedness, whether in temporary or definitive form and whether or not the interest thereon is exempt from federal taxation.\n\t\t\t“Governmental instrumentality” means each department, institution, commission, public corporate instrumentality, or agency of the Commonwealth, including the Commonwealth itself, and each political subdivision thereof, including but without limitation each public authority and district and each county, city or town and each instrumentality thereof which under law has the power to issue bonds.B\n\nNotwithstanding any provision contained in any general or special law or in any charter of any county, city or town of the Commonwealth, any rating of bonds issued by a governmental instrumentality shall be provided by a bond rating agency approved by the State Treasurer.C\n\nIn addition to all of his other powers and duties, the State Treasurer shall prepare a list of approved bond rating agencies and upon request provide a copy thereof to all governmental instrumentalities.","order_by":null,"text":{"0":{"id":312171,"text":"As used in this section, unless the context requires a different meaning:\n\t\t\t“Bond” means any bonds, refunding bonds, notes, debentures, interim certificates, or any bond, grant, revenue anticipation notes or any other evidences of indebtedness, whether in temporary or definitive form and whether or not the interest thereon is exempt from federal taxation.\n\t\t\t“Governmental instrumentality” means each department, institution, commission, public corporate instrumentality, or agency of the Commonwealth, including the Commonwealth itself, and each political subdivision thereof, including but without limitation each public authority and district and each county, city or town and each instrumentality thereof which under law has the power to issue bonds.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":312172,"text":"Notwithstanding any provision contained in any general or special law or in any charter of any county, city or town of the Commonwealth, any rating of bonds issued by a governmental instrumentality shall be provided by a bond rating agency approved by the State Treasurer.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":312173,"text":"In addition to all of his other powers and duties, the State Treasurer shall prepare a list of approved bond rating agencies and upon request provide a copy thereof to all governmental instrumentalities.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":14932,"edition_id":1,"name":"Public Debt; Issuance of Bonds and Certificates of Indebtedness","identifier":"49","label":"chapter","depth":4,"order_by":1,"parent_id":12751,"metadata":{},"date_created":"2026-06-26 03:50:52","date_modified":"2026-06-26 03:50:52","permalink":{"id":177689,"object_type":"structure","relational_id":14932,"identifier":"49","token":"2.2\/II\/B\/49","url":"\/2.2\/II\/B\/49\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12751,"edition_id":1,"name":"Transaction of Public Business","identifier":"B","label":"part","depth":3,"order_by":1,"parent_id":12750,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":176445,"object_type":"structure","relational_id":12751,"identifier":"B","token":"2.2\/II\/B","url":"\/2.2\/II\/B\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12750,"edition_id":1,"name":"Administration of State Government","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12749,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":176253,"object_type":"structure","relational_id":12750,"identifier":"II","token":"2.2\/II","url":"\/2.2\/II\/","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":69226,"structure_id":14932,"section_number":"2.2-4900","catch_line":"Authority of Governor to contract debts","url":"\/2.2-4900\/","token":"2.2\/II\/B\/49\/2.2-4900","metadata":false},{"id":83386,"structure_id":14932,"section_number":"2.2-4901","catch_line":"Acts concerning issuance of bonds and certificates of indebtedness continued in effect","url":"\/2.2-4901\/","token":"2.2\/II\/B\/49\/2.2-4901","metadata":false},{"id":87182,"structure_id":14932,"section_number":"2.2-4902","catch_line":"Ratings of bonds issued by governmental instrumentalities","url":"\/2.2-4902\/","token":"2.2\/II\/B\/49\/2.2-4902","metadata":false},{"id":63861,"structure_id":14932,"section_number":"2.2-4902.1","catch_line":"Pledges and security interests created by governmental units","url":"\/2.2-4902.1\/","token":"2.2\/II\/B\/49\/2.2-4902.1","metadata":false},{"id":62784,"structure_id":14932,"section_number":"2.2-4903","catch_line":"Governor's consideration of tax-supported debt","url":"\/2.2-4903\/","token":"2.2\/II\/B\/49\/2.2-4903","metadata":false},{"id":74043,"structure_id":14932,"section_number":"2.2-4904","catch_line":"Cooperation of the Commonwealth's instrumentalities","url":"\/2.2-4904\/","token":"2.2\/II\/B\/49\/2.2-4904","metadata":false},{"id":56983,"structure_id":14932,"section_number":"2.2-4905","catch_line":"Limitation of chapter","url":"\/2.2-4905\/","token":"2.2\/II\/B\/49\/2.2-4905","metadata":false},{"id":82365,"structure_id":14932,"section_number":"2.2-4906","catch_line":"How lost bond or certificate renewed","url":"\/2.2-4906\/","token":"2.2\/II\/B\/49\/2.2-4906","metadata":false}],"previous_section":{"id":83386,"structure_id":14932,"section_number":"2.2-4901","catch_line":"Acts concerning issuance of bonds and certificates of indebtedness continued in effect","url":"\/2.2-4901\/","token":"2.2\/II\/B\/49\/2.2-4901","metadata":false},"next_section":{"id":63861,"structure_id":14932,"section_number":"2.2-4902.1","catch_line":"Pledges and security interests created by governmental units","url":"\/2.2-4902.1\/","token":"2.2\/II\/B\/49\/2.2-4902.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/2.2-4902\/","history_text":"

This law was first created in 1997. The record of its establishment is cataloged in chapter 381<\/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. It has been modified 1 time. 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. That modification is as follows: in 2001, chapter 844<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":177699,"object_type":"law","relational_id":87182,"identifier":"2.2-4902","token":"2.2\/II\/B\/49\/2.2-4902","url":"\/2.2-4902\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/2.2-4902\/","token":"2.2\/II\/B\/49\/2.2-4902","dublin_core":{"Title":"Ratings of bonds issued by governmental instrumentalities","Type":"Text","Format":"text\/html","Identifier":"\u00a7 2.2-4902","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> As used in this section, unless the context requires a different meaning:\n\t\t\t“Bond<\/span>” means any bonds<\/span>, refunding bonds<\/span>, notes, debentures, interim certificates, or any bond<\/span>, grant, revenue anticipation notes or any other evidences<\/span> of indebtedness, whether in temporary or definitive form and whether or not the interest thereon is exempt from federal taxation.\n\t\t\t“Governmental instrumentality<\/span>” means each department, institution, commission, public corporate instrumentality, or agency of the Commonwealth, including the Commonwealth itself, and each political subdivision thereof, including but without limitation each public authority and district and each county, city or town and each instrumentality thereof which under law<\/span> has the power to issue<\/span> bonds<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Notwithstanding any provision contained in any general or special law<\/span> or in any charter of any county, city or town of the Commonwealth, any rating of bonds<\/span> issued by a governmental instrumentality<\/span> shall be provided by a bond<\/span> rating agency approved by the State Treasurer. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> In addition to all of his other powers and duties, the State Treasurer shall prepare a list of approved bond<\/span> rating agencies and upon request provide a copy thereof to all governmental instrumentalities. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nRATINGS OF BONDS ISSUED BY GOVERNMENTAL INSTRUMENTALITIES (\u00a7 2.2-4902)\n\nA. As used in this section, unless the context requires a different meaning:\n\t\t\t“Bond” means any bonds, refunding bonds, notes, debentures,\ninterim certificates, or any bond, grant, revenue anticipation notes or any\nother evidences of indebtedness, whether in temporary or definitive form and\nwhether or not the interest thereon is exempt from federal taxation.\n\t\t\t“Governmental instrumentality” means each department,\ninstitution, commission, public corporate instrumentality, or agency of the\nCommonwealth, including the Commonwealth itself, and each political subdivision\nthereof, including but without limitation each public authority and district and\neach county, city or town and each instrumentality thereof which under law has\nthe power to issue bonds.\n\nB. Notwithstanding any provision contained in any general or special law or in\nany charter of any county, city or town of the Commonwealth, any rating of bonds\nissued by a governmental instrumentality shall be provided by a bond rating\nagency approved by the State Treasurer.\n\nC. In addition to all of his other powers and duties, the State Treasurer shall\nprepare a list of approved bond rating agencies and upon request provide a copy\nthereof to all governmental instrumentalities.\n\nHISTORY: 1997, c. 381, \u00a7 2.1-304.1:1; 2001, c. 844.","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}}