{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/23.1-1014.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/23.1-1014.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/23.1-1014.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/23.1-1014.html"}],"law_id":68235,"edition_id":1,"section_id":68235,"structure_id":14810,"section_number":"23.1-1014","catch_line":"Covered institutions; operational authority; financial operations; financing and indebtedness","history":"2005, cc. 933, 945, \u00a7 23-38.107; 2016, c. 588; 2017, c. 314.","full_text":"A\n\nEach covered institution may:1\n\nBorrow money and issue bonds, notes, or other obligations as provided in this article and purchase such bonds, notes, or other obligations;2\n\nSeek financing from, incur, or assume indebtedness to, and enter into contractual commitments with, the Virginia Public Building Authority and the Virginia College Building Authority, which authorities may borrow money and make and issue negotiable notes, bonds, notes, or other obligations to provide such financing relating to facilities or any project; and3\n\nSeek financing from, incur or assume indebtedness to, and enter into contractual commitments with, the Commonwealth as otherwise provided by law relating to the institution&#8217;s facilities or any project.B\n\nNotwithstanding the provisions of this chapter, no covered institution is exempt from any requirement or covenant contained in any outstanding bonds, notes, or other obligations.","order_by":null,"text":{"0":{"id":246927,"text":"Each covered institution may:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":246928,"text":"Borrow money and issue bonds, notes, or other obligations as provided in this article and purchase such bonds, notes, or other obligations;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":246929,"text":"Seek financing from, incur, or assume indebtedness to, and enter into contractual commitments with, the Virginia Public Building Authority and the Virginia College Building Authority, which authorities may borrow money and make and issue negotiable notes, bonds, notes, or other obligations to provide such financing relating to facilities or any project; and","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":246930,"text":"Seek financing from, incur or assume indebtedness to, and enter into contractual commitments with, the Commonwealth as otherwise provided by law relating to the institution&#8217;s facilities or any project.","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"B"},"4":{"id":246931,"text":"Notwithstanding the provisions of this chapter, no covered institution is exempt from any requirement or covenant contained in any outstanding bonds, notes, or other obligations.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A3"}},"ancestry":[{"id":14810,"edition_id":1,"name":"Restructured Financial and Administrative Authority; Covered Institutions; Management Agreements","identifier":"4","label":"article","depth":4,"order_by":1,"parent_id":14809,"metadata":{},"date_created":"2026-06-26 03:50:04","date_modified":"2026-06-26 03:50:04","permalink":{"id":185539,"object_type":"structure","relational_id":14810,"identifier":"4","token":"23.1\/III\/10\/4","url":"\/23.1\/III\/10\/4\/","edition_id":1,"permalink":0,"preferred":1}},{"id":14809,"edition_id":1,"name":"Restructured Higher Education Financial and Administrative Operations Act","identifier":"10","label":"chapter","depth":3,"order_by":1,"parent_id":14060,"metadata":{},"date_created":"2026-06-26 03:50:04","date_modified":"2026-06-26 03:50:04","permalink":{"id":185515,"object_type":"structure","relational_id":14809,"identifier":"10","token":"23.1\/III\/10","url":"\/23.1\/III\/10\/","edition_id":1,"permalink":0,"preferred":1}},{"id":14060,"edition_id":1,"name":"Management and Financing","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":13111,"metadata":{},"date_created":"2026-06-26 03:46:44","date_modified":"2026-06-26 03:46:44","permalink":{"id":185513,"object_type":"structure","relational_id":14060,"identifier":"III","token":"23.1\/III","url":"\/23.1\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13111,"edition_id":1,"name":"Institutions of Higher Education; Other Educational and Cultural Institutions","identifier":"23.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:18","date_modified":"2026-06-26 03:44:18","permalink":{"id":184581,"object_type":"structure","relational_id":13111,"identifier":"23.1","token":"23.1","url":"\/23.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":72164,"structure_id":14810,"section_number":"23.1-1004","catch_line":"Management agreement; eligibility and application","url":"\/23.1-1004\/","token":"23.1\/III\/10\/4\/23.1-1004","metadata":false},{"id":83668,"structure_id":14810,"section_number":"23.1-1005","catch_line":"Approval of a management agreement","url":"\/23.1-1005\/","token":"23.1\/III\/10\/4\/23.1-1005","metadata":false},{"id":56640,"structure_id":14810,"section_number":"23.1-1006","catch_line":"Management agreement; contents and scope","url":"\/23.1-1006\/","token":"23.1\/III\/10\/4\/23.1-1006","metadata":false},{"id":63108,"structure_id":14810,"section_number":"23.1-1007","catch_line":"Management agreement; duration and oversight","url":"\/23.1-1007\/","token":"23.1\/III\/10\/4\/23.1-1007","metadata":false},{"id":58529,"structure_id":14810,"section_number":"23.1-1008","catch_line":"Covered institutions; operational authority generally","url":"\/23.1-1008\/","token":"23.1\/III\/10\/4\/23.1-1008","metadata":false},{"id":68969,"structure_id":14810,"section_number":"23.1-1009","catch_line":"Covered institutions; operational authority; projects","url":"\/23.1-1009\/","token":"23.1\/III\/10\/4\/23.1-1009","metadata":false},{"id":71430,"structure_id":14810,"section_number":"23.1-1010","catch_line":"Covered institutions; operational authority; creation of entities and participation in joint ventures","url":"\/23.1-1010\/","token":"23.1\/III\/10\/4\/23.1-1010","metadata":false},{"id":66142,"structure_id":14810,"section_number":"23.1-1011","catch_line":"Covered institutions; operational authority; campus police","url":"\/23.1-1011\/","token":"23.1\/III\/10\/4\/23.1-1011","metadata":false},{"id":69766,"structure_id":14810,"section_number":"23.1-1012","catch_line":"Covered institutions; operational authority; financial operations generally","url":"\/23.1-1012\/","token":"23.1\/III\/10\/4\/23.1-1012","metadata":false},{"id":79752,"structure_id":14810,"section_number":"23.1-1013","catch_line":"Covered institutions; operational authority; financial operations; investment of operating funds","url":"\/23.1-1013\/","token":"23.1\/III\/10\/4\/23.1-1013","metadata":false},{"id":68235,"structure_id":14810,"section_number":"23.1-1014","catch_line":"Covered institutions; operational authority; financial operations; financing and indebtedness","url":"\/23.1-1014\/","token":"23.1\/III\/10\/4\/23.1-1014","metadata":false},{"id":65904,"structure_id":14810,"section_number":"23.1-1015","catch_line":"Covered institutions; operational authority; financial operations; power to issue bonds, notes, or other obligations","url":"\/23.1-1015\/","token":"23.1\/III\/10\/4\/23.1-1015","metadata":false},{"id":86805,"structure_id":14810,"section_number":"23.1-1016","catch_line":"Covered institutions; operational authority; financial operations; capital projects","url":"\/23.1-1016\/","token":"23.1\/III\/10\/4\/23.1-1016","metadata":false},{"id":74516,"structure_id":14810,"section_number":"23.1-1017","catch_line":"Covered institutions; operational authority; procurement","url":"\/23.1-1017\/","token":"23.1\/III\/10\/4\/23.1-1017","metadata":false},{"id":79632,"structure_id":14810,"section_number":"23.1-1018","catch_line":"Covered institutions; operational authority; information technology","url":"\/23.1-1018\/","token":"23.1\/III\/10\/4\/23.1-1018","metadata":false},{"id":68739,"structure_id":14810,"section_number":"23.1-1019","catch_line":"Covered institutions; operational authority; property, grants, and loans","url":"\/23.1-1019\/","token":"23.1\/III\/10\/4\/23.1-1019","metadata":false},{"id":61212,"structure_id":14810,"section_number":"23.1-1020","catch_line":"Covered institutions; operational authority; human resources; covered employees generally","url":"\/23.1-1020\/","token":"23.1\/III\/10\/4\/23.1-1020","metadata":false},{"id":78983,"structure_id":14810,"section_number":"23.1-1021","catch_line":"Covered institutions; operational authority; human resources; establishment of a human resources program","url":"\/23.1-1021\/","token":"23.1\/III\/10\/4\/23.1-1021","metadata":false},{"id":59817,"structure_id":14810,"section_number":"23.1-1022","catch_line":"Covered institutions; operational authority; human resources; election by certain covered employees","url":"\/23.1-1022\/","token":"23.1\/III\/10\/4\/23.1-1022","metadata":false},{"id":67808,"structure_id":14810,"section_number":"23.1-1023","catch_line":"Covered institutions; operational authority; human resources; grievance procedures","url":"\/23.1-1023\/","token":"23.1\/III\/10\/4\/23.1-1023","metadata":false},{"id":75091,"structure_id":14810,"section_number":"23.1-1024","catch_line":"Covered institutions; operational authority; human resources; miscellaneous personnel matters","url":"\/23.1-1024\/","token":"23.1\/III\/10\/4\/23.1-1024","metadata":false},{"id":76407,"structure_id":14810,"section_number":"23.1-1025","catch_line":"Covered institutions; operational authority; human resources; certain insurance plans","url":"\/23.1-1025\/","token":"23.1\/III\/10\/4\/23.1-1025","metadata":false},{"id":64122,"structure_id":14810,"section_number":"23.1-1026","catch_line":"Covered institutions; operational authority; human resources; severance policies","url":"\/23.1-1026\/","token":"23.1\/III\/10\/4\/23.1-1026","metadata":false},{"id":82551,"structure_id":14810,"section_number":"23.1-1027","catch_line":"Covered institutions; duties; tuition, fees, rentals, and other charges","url":"\/23.1-1027\/","token":"23.1\/III\/10\/4\/23.1-1027","metadata":false},{"id":73063,"structure_id":14810,"section_number":"23.1-1028","catch_line":"Covered institutions; duties; leases of property","url":"\/23.1-1028\/","token":"23.1\/III\/10\/4\/23.1-1028","metadata":false}],"previous_section":{"id":79752,"structure_id":14810,"section_number":"23.1-1013","catch_line":"Covered institutions; operational authority; financial operations; investment of operating funds","url":"\/23.1-1013\/","token":"23.1\/III\/10\/4\/23.1-1013","metadata":false},"next_section":{"id":65904,"structure_id":14810,"section_number":"23.1-1015","catch_line":"Covered institutions; operational authority; financial operations; power to issue bonds, notes, or other obligations","url":"\/23.1-1015\/","token":"23.1\/III\/10\/4\/23.1-1015","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/23.1-1014\/","history_text":"<p>This law was first created in 2005. The record of its establishment is cataloged in chapters <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?051+ful+CHAP0933\">933<\/a> and <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?051+ful+CHAP0945\">945<\/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 2 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 2016, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?161+ful+CHAP0588\">588<\/a>; in 2017, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?171+ful+CHAP0314\">314<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":185581,"object_type":"law","relational_id":68235,"identifier":"23.1-1014","token":"23.1\/III\/10\/4\/23.1-1014","url":"\/23.1-1014\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/23.1-1014\/","token":"23.1\/III\/10\/4\/23.1-1014","dublin_core":{"Title":"Covered institutions; operational authority; financial operations; financing and indebtedness","Type":"Text","Format":"text\/html","Identifier":"\u00a7 23.1-1014","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section id=\"A\"><p><span class=\"prefix-number\">A.<\/span> Each <span class=\"dictionary\">covered institution<\/span> may: <a id=\"paragraph-246927\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/23.1-1014\/#A\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A1\" class=\"indent-1\"><p><span class=\"prefix-number\">1.<\/span> Borrow money and <span class=\"dictionary\">issue<\/span> <span class=\"dictionary\"><span class=\"dictionary\">bonds<\/span>, notes, or other obligations<\/span> as provided in this article and purchase such <span class=\"dictionary\"><span class=\"dictionary\">bonds<\/span>, notes, or other obligations<\/span>; <a id=\"paragraph-246928\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/23.1-1014\/#A1\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A2\" class=\"indent-1\"><p><span class=\"prefix-number\">2.<\/span> Seek financing from, incur, or assume indebtedness to, and enter into contractual commitments with, the Virginia Public Building Authority and the Virginia College Building Authority, which authorities may borrow money and make and <span class=\"dictionary\">issue<\/span> negotiable notes, <span class=\"dictionary\"><span class=\"dictionary\">bonds<\/span>, notes, or other obligations<\/span> to provide such financing relating to <span class=\"dictionary\">facilities<\/span> or any <span class=\"dictionary\">project<\/span>; and <a id=\"paragraph-246929\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/23.1-1014\/#A2\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A3\" class=\"indent-1\"><p><span class=\"prefix-number\">3.<\/span> Seek financing from, incur or assume indebtedness to, and enter into contractual commitments with, the Commonwealth as otherwise provided by <span class=\"dictionary\">law<\/span> relating to the institution&#8217;s <span class=\"dictionary\">facilities<\/span> or any <span class=\"dictionary\">project<\/span>. <a id=\"paragraph-246930\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/23.1-1014\/#A3\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B\"><p><span class=\"prefix-number\">B.<\/span> Notwithstanding the provisions of this chapter, no <span class=\"dictionary\">covered institution<\/span> is exempt from any requirement or covenant contained in any outstanding <span class=\"dictionary\"><span class=\"dictionary\">bonds<\/span>, notes, or other obligations<\/span>. <a id=\"paragraph-246931\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/23.1-1014\/#B\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nCOVERED INSTITUTIONS; OPERATIONAL AUTHORITY; FINANCIAL OPERATIONS; FINANCING AND\nINDEBTEDNESS (\u00a7 23.1-1014)\n\nA. Each covered institution may:\n\n   1. Borrow money and issue bonds, notes, or other obligations as provided in\n   this article and purchase such bonds, notes, or other obligations;\n\n   2. Seek financing from, incur, or assume indebtedness to, and enter into\n   contractual commitments with, the Virginia Public Building Authority and the\n   Virginia College Building Authority, which authorities may borrow money and\n   make and issue negotiable notes, bonds, notes, or other obligations to provide\n   such financing relating to facilities or any project; and\n\n   3. Seek financing from, incur or assume indebtedness to, and enter into\n   contractual commitments with, the Commonwealth as otherwise provided by law\n   relating to the institution&#8217;s facilities or any project.\n\nB. Notwithstanding the provisions of this chapter, no covered institution is\nexempt from any requirement or covenant contained in any outstanding bonds,\nnotes, or other obligations.\n\nHISTORY: 2005, cc. 933, 945, \u00a7 23-38.107; 2016, c. 588; 2017, c. 314.","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}}