{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/22.1-151.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/22.1-151.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/22.1-151.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/22.1-151.html"}],"law_id":60513,"edition_id":1,"section_id":60513,"structure_id":14751,"section_number":"22.1-151","catch_line":"Evidence of loan","history":"Code 1950, \u00a7 22-112; 1954, c. 476; 1958, c. 162; 1980, c. 559; 2007, c. 121; 2008, c. 365.","full_text":"A\n\nA loan from the Literary Fund shall be evidenced by bonds or notes payable to the Commonwealth of Virginia for the benefit of the Literary Fund, executed or signed by the mayor or the chairman of the governing body and the chairman of the school board and attested by the clerk thereof. Evidence of debt taken for such loans shall be deposited with the State Treasurer and kept by him.B\n\nUpon the request of a locality, any memorandum of lien held on behalf of the Literary Fund prior to July 1, 2007, and deposited with the State Treasurer or recorded in the appropriate circuit court shall be marked as released. The release of such lien shall in no way affect the obligations of the locality under the loan.","order_by":null,"text":{"0":{"id":221248,"text":"A loan from the Literary Fund shall be evidenced by bonds or notes payable to the Commonwealth of Virginia for the benefit of the Literary Fund, executed or signed by the mayor or the chairman of the governing body and the chairman of the school board and attested by the clerk thereof. Evidence of debt taken for such loans shall be deposited with the State Treasurer and kept by him.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":221249,"text":"Upon the request of a locality, any memorandum of lien held on behalf of the Literary Fund prior to July 1, 2007, and deposited with the State Treasurer or recorded in the appropriate circuit court shall be marked as released. The release of such lien shall in no way affect the obligations of the locality under the loan.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":14751,"edition_id":1,"name":"Literary Fund","identifier":"10","label":"chapter","depth":2,"order_by":1,"parent_id":12823,"metadata":{},"date_created":"2026-06-26 03:49:43","date_modified":"2026-06-26 03:49:43","permalink":{"id":181033,"object_type":"structure","relational_id":14751,"identifier":"10","token":"22.1\/10","url":"\/22.1\/10\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12823,"edition_id":1,"name":"Education","identifier":"22.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:55","date_modified":"2026-06-26 03:43:55","permalink":{"id":180949,"object_type":"structure","relational_id":12823,"identifier":"22.1","token":"22.1","url":"\/22.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":57272,"structure_id":14751,"section_number":"22.1-142","catch_line":"How Fund constituted; management","url":"\/22.1-142\/","token":"22.1\/10\/22.1-142","metadata":false},{"id":79935,"structure_id":14751,"section_number":"22.1-143","catch_line":"Money belonging to Fund received in treasury; accountant","url":"\/22.1-143\/","token":"22.1\/10\/22.1-143","metadata":false},{"id":73717,"structure_id":14751,"section_number":"22.1-144","catch_line":"Recovery of moneys due Fund","url":"\/22.1-144\/","token":"22.1\/10\/22.1-144","metadata":false},{"id":76672,"structure_id":14751,"section_number":"22.1-145","catch_line":"Investment of Fund","url":"\/22.1-145\/","token":"22.1\/10\/22.1-145","metadata":false},{"id":75590,"structure_id":14751,"section_number":"22.1-146","catch_line":"Power of Board to make loans from fund for erection, etc., of school buildings and fueling facilities for school buses","url":"\/22.1-146\/","token":"22.1\/10\/22.1-146","metadata":false},{"id":75337,"structure_id":14751,"section_number":"22.1-146.1","catch_line":"School modernization loan interest rate subsidy payments","url":"\/22.1-146.1\/","token":"22.1\/10\/22.1-146.1","metadata":false},{"id":63686,"structure_id":14751,"section_number":"22.1-147","catch_line":"Application for and distribution of funds","url":"\/22.1-147\/","token":"22.1\/10\/22.1-147","metadata":false},{"id":56494,"structure_id":14751,"section_number":"22.1-148","catch_line":"Restrictions upon making loans; retirement of previous loans; waiting lists","url":"\/22.1-148\/","token":"22.1\/10\/22.1-148","metadata":false},{"id":86924,"structure_id":14751,"section_number":"22.1-149","catch_line":"Additional funds for loans","url":"\/22.1-149\/","token":"22.1\/10\/22.1-149","metadata":false},{"id":74838,"structure_id":14751,"section_number":"22.1-150","catch_line":"Rate of interest","url":"\/22.1-150\/","token":"22.1\/10\/22.1-150","metadata":false},{"id":60513,"structure_id":14751,"section_number":"22.1-151","catch_line":"Evidence of loan","url":"\/22.1-151\/","token":"22.1\/10\/22.1-151","metadata":false},{"id":68977,"structure_id":14751,"section_number":"22.1-152","catch_line":"Payment of principal and interest","url":"\/22.1-152\/","token":"22.1\/10\/22.1-152","metadata":false},{"id":67623,"structure_id":14751,"section_number":"22.1-153","catch_line":"School boards authorized to borrow from Fund; form of application","url":"\/22.1-153\/","token":"22.1\/10\/22.1-153","metadata":false},{"id":69002,"structure_id":14751,"section_number":"22.1-154","catch_line":"Repealed","url":"\/22.1-154\/","token":"22.1\/10\/22.1-154","metadata":false},{"id":85355,"structure_id":14751,"section_number":"22.1-158","catch_line":"Provisions for payment","url":"\/22.1-158\/","token":"22.1\/10\/22.1-158","metadata":false},{"id":57381,"structure_id":14751,"section_number":"22.1-159","catch_line":"Loans for construction of school facilities to serve portions of counties; levy of taxes for purpose of repaying such loans","url":"\/22.1-159\/","token":"22.1\/10\/22.1-159","metadata":false},{"id":81446,"structure_id":14751,"section_number":"22.1-160","catch_line":"School boards authorized to anticipate payment of loans","url":"\/22.1-160\/","token":"22.1\/10\/22.1-160","metadata":false},{"id":57015,"structure_id":14751,"section_number":"22.1-161","catch_line":"Loan declared indebtedness of the county, city or town; lien on locality's funds created","url":"\/22.1-161\/","token":"22.1\/10\/22.1-161","metadata":false}],"previous_section":{"id":74838,"structure_id":14751,"section_number":"22.1-150","catch_line":"Rate of interest","url":"\/22.1-150\/","token":"22.1\/10\/22.1-150","metadata":false},"next_section":{"id":68977,"structure_id":14751,"section_number":"22.1-152","catch_line":"Payment of principal and interest","url":"\/22.1-152\/","token":"22.1\/10\/22.1-152","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/22.1-151\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 5 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 1954, chapter 476; in 1958, chapter 162; in 1980, chapter 559; in 2007, chapter 121<\/a>; in 2008, chapter 365<\/a>.<\/p>","references":[{"id":57015,"section_number":"22.1-161","catch_line":"Loan declared indebtedness of the county, city or town; lien on locality's funds created","order_by":null,"url":"\/22.1-161\/"}],"refers_to":false,"permalink":{"id":181075,"object_type":"law","relational_id":60513,"identifier":"22.1-151","token":"22.1\/10\/22.1-151","url":"\/22.1-151\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/22.1-151\/","token":"22.1\/10\/22.1-151","dublin_core":{"Title":"Evidence of loan","Type":"Text","Format":"text\/html","Identifier":"\u00a7 22.1-151","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> A loan from the Literary Fund shall be evidenced by bonds<\/span> or notes payable to the Commonwealth of Virginia for the benefit of the Literary Fund, executed or signed by the mayor or the chairman of the governing body<\/span> and the chairman of the school board<\/span> and attested by the clerk thereof. Evidence<\/span> of debt taken for such loans shall be deposited with the State Treasurer and kept by him. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Upon the request of a locality, any memorandum<\/span> of lien<\/span> held on behalf of the Literary Fund prior to July 1, 2007, and deposited with the State Treasurer or recorded in the appropriate circuit<\/span> court<\/span> shall be marked as released. The release of such lien<\/span> shall in no way affect the obligations of the locality under the loan. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nEVIDENCE OF LOAN (\u00a7 22.1-151)\n\nA. A loan from the Literary Fund shall be evidenced by bonds or notes payable to\nthe Commonwealth of Virginia for the benefit of the Literary Fund, executed or\nsigned by the mayor or the chairman of the governing body and the chairman of\nthe school board and attested by the clerk thereof. Evidence of debt taken for\nsuch loans shall be deposited with the State Treasurer and kept by him.\n\nB. Upon the request of a locality, any memorandum of lien held on behalf of the\nLiterary Fund prior to July 1, 2007, and deposited with the State Treasurer or\nrecorded in the appropriate circuit court shall be marked as released. The\nrelease of such lien shall in no way affect the obligations of the locality\nunder the loan.\n\nHISTORY: Code 1950, \u00a7 22-112; 1954, c. 476; 1958, c. 162; 1980, c. 559; 2007,\nc. 121; 2008, c. 365.","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}}