{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/23.1-1109.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/23.1-1109.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/23.1-1109.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/23.1-1109.html"}],"law_id":62860,"edition_id":1,"section_id":62860,"structure_id":14061,"section_number":"23.1-1109","catch_line":"Bonds and revenues; disposition","history":"1933, p. 88, \u00a7 23-21; 1946, p. 187; 1962, c. 373; 1964, c. 635; 1997, c. 308; 2016, c. 588.","full_text":"All moneys derived from the sale of bonds pursuant to \u00a7 23.1-1106 and all revenues derived from any source set forth in subdivision C 1 a, b, or c of \u00a7 23.1-1106, except those moneys that are exempt from deposit into the state treasury, shall be paid into the state treasury, set aside in special funds, and devoted solely to the payment of (i) the cost of erecting the project for which such bonds have been issued, (ii) the principal of and the interest on such bonds, and (iii) the cost of maintenance and operation of such project and any other existing facilities for which any revenue is pledged either in whole or in part to the payment of the principal of and the interest on such bonds, respectively, and are specifically appropriated for such purposes to be paid out by the State Treasurer on warrants of the Comptroller to be issued on vouchers of the treasurer or other fiscal officer of the board of such institution.","order_by":null,"text":{"0":{"id":229132,"text":"All moneys derived from the sale of bonds pursuant to \u00a7 23.1-1106 and all revenues derived from any source set forth in subdivision C 1 a, b, or c of \u00a7 23.1-1106, except those moneys that are exempt from deposit into the state treasury, shall be paid into the state treasury, set aside in special funds, and devoted solely to the payment of (i) the cost of erecting the project for which such bonds have been issued, (ii) the principal of and the interest on such bonds, and (iii) the cost of maintenance and operation of such project and any other existing facilities for which any revenue is pledged either in whole or in part to the payment of the principal of and the interest on such bonds, respectively, and are specifically appropriated for such purposes to be paid out by the State Treasurer on warrants of the Comptroller to be issued on vouchers of the treasurer or other fiscal officer of the board of such institution.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14061,"edition_id":1,"name":"Bonds and Other Obligations","identifier":"11","label":"chapter","depth":3,"order_by":1,"parent_id":14060,"metadata":{},"date_created":"2026-06-26 03:46:44","date_modified":"2026-06-26 03:46:44","permalink":{"id":185641,"object_type":"structure","relational_id":14061,"identifier":"11","token":"23.1\/III\/11","url":"\/23.1\/III\/11\/","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":55320,"structure_id":14061,"section_number":"23.1-1100","catch_line":"Definitions","url":"\/23.1-1100\/","token":"23.1\/III\/11\/23.1-1100","metadata":false},{"id":77059,"structure_id":14061,"section_number":"23.1-1101","catch_line":"Powers of institutions vested in majority of members of board; quorum","url":"\/23.1-1101\/","token":"23.1\/III\/11\/23.1-1101","metadata":false},{"id":77622,"structure_id":14061,"section_number":"23.1-1102","catch_line":"Purpose of institutions","url":"\/23.1-1102\/","token":"23.1\/III\/11\/23.1-1102","metadata":false},{"id":71395,"structure_id":14061,"section_number":"23.1-1103","catch_line":"Institutions; powers generally","url":"\/23.1-1103\/","token":"23.1\/III\/11\/23.1-1103","metadata":false},{"id":62715,"structure_id":14061,"section_number":"23.1-1104","catch_line":"Institutions; powers; projects and bonds","url":"\/23.1-1104\/","token":"23.1\/III\/11\/23.1-1104","metadata":false},{"id":62004,"structure_id":14061,"section_number":"23.1-1105","catch_line":"Institutions; powers; borrowing upon endowment and other investments","url":"\/23.1-1105\/","token":"23.1\/III\/11\/23.1-1105","metadata":false},{"id":77983,"structure_id":14061,"section_number":"23.1-1106","catch_line":"Bonds generally","url":"\/23.1-1106\/","token":"23.1\/III\/11\/23.1-1106","metadata":false},{"id":80451,"structure_id":14061,"section_number":"23.1-1107","catch_line":"Bondholders; remedies and trustees","url":"\/23.1-1107\/","token":"23.1\/III\/11\/23.1-1107","metadata":false},{"id":58952,"structure_id":14061,"section_number":"23.1-1108","catch_line":"Bonds mutilated, lost, or destroyed","url":"\/23.1-1108\/","token":"23.1\/III\/11\/23.1-1108","metadata":false},{"id":62860,"structure_id":14061,"section_number":"23.1-1109","catch_line":"Bonds and revenues; disposition","url":"\/23.1-1109\/","token":"23.1\/III\/11\/23.1-1109","metadata":false},{"id":79864,"structure_id":14061,"section_number":"23.1-1110","catch_line":"Bonds as legal investments","url":"\/23.1-1110\/","token":"23.1\/III\/11\/23.1-1110","metadata":false},{"id":61560,"structure_id":14061,"section_number":"23.1-1111","catch_line":"Bonds; prohibition against obligating Commonwealth","url":"\/23.1-1111\/","token":"23.1\/III\/11\/23.1-1111","metadata":false},{"id":78603,"structure_id":14061,"section_number":"23.1-1112","catch_line":"Bonds; interest","url":"\/23.1-1112\/","token":"23.1\/III\/11\/23.1-1112","metadata":false},{"id":70745,"structure_id":14061,"section_number":"23.1-1113","catch_line":"Bonds; surplus to be paid into state treasury","url":"\/23.1-1113\/","token":"23.1\/III\/11\/23.1-1113","metadata":false},{"id":62990,"structure_id":14061,"section_number":"23.1-1114","catch_line":"Projects; accounts to be kept by boards","url":"\/23.1-1114\/","token":"23.1\/III\/11\/23.1-1114","metadata":false},{"id":79583,"structure_id":14061,"section_number":"23.1-1115","catch_line":"Projects; exemption from taxation","url":"\/23.1-1115\/","token":"23.1\/III\/11\/23.1-1115","metadata":false},{"id":85366,"structure_id":14061,"section_number":"23.1-1116","catch_line":"Commonwealth not to limit revenues of institutions","url":"\/23.1-1116\/","token":"23.1\/III\/11\/23.1-1116","metadata":false},{"id":87467,"structure_id":14061,"section_number":"23.1-1117","catch_line":"Borrowing to purchase real estate","url":"\/23.1-1117\/","token":"23.1\/III\/11\/23.1-1117","metadata":false},{"id":86618,"structure_id":14061,"section_number":"23.1-1118","catch_line":"Discretion of Governor in granting or withholding consent or approval","url":"\/23.1-1118\/","token":"23.1\/III\/11\/23.1-1118","metadata":false},{"id":55164,"structure_id":14061,"section_number":"23.1-1119","catch_line":"Payment of interest on bonds of the Commonwealth held by public institutions of higher education and private institutions of higher education","url":"\/23.1-1119\/","token":"23.1\/III\/11\/23.1-1119","metadata":false},{"id":66554,"structure_id":14061,"section_number":"23.1-1120","catch_line":"Exchange and cancellation of consol coupon bonds of the Commonwealth","url":"\/23.1-1120\/","token":"23.1\/III\/11\/23.1-1120","metadata":false},{"id":56613,"structure_id":14061,"section_number":"23.1-1121","catch_line":"Certificates of indebtedness","url":"\/23.1-1121\/","token":"23.1\/III\/11\/23.1-1121","metadata":false},{"id":66049,"structure_id":14061,"section_number":"23.1-1122","catch_line":"Provisions of chapter to control","url":"\/23.1-1122\/","token":"23.1\/III\/11\/23.1-1122","metadata":false}],"previous_section":{"id":58952,"structure_id":14061,"section_number":"23.1-1108","catch_line":"Bonds mutilated, lost, or destroyed","url":"\/23.1-1108\/","token":"23.1\/III\/11\/23.1-1108","metadata":false},"next_section":{"id":79864,"structure_id":14061,"section_number":"23.1-1110","catch_line":"Bonds as legal investments","url":"\/23.1-1110\/","token":"23.1\/III\/11\/23.1-1110","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/23.1-1109\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 4 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 1962, chapter 373; in 1964, chapter 635; in 1997, chapter 308<\/a>; in 2016, chapter 588<\/a>.<\/p>","references":[{"id":62990,"section_number":"23.1-1114","catch_line":"Projects; accounts to be kept by boards","order_by":null,"url":"\/23.1-1114\/"},{"id":66492,"section_number":"23.1-2207","catch_line":"Payment of interest on debt of University; sinking fund","order_by":null,"url":"\/23.1-2207\/"}],"refers_to":[{"id":77983,"section_number":"23.1-1106","catch_line":"Bonds generally","order_by":null,"url":"\/23.1-1106\/"}],"permalink":{"id":185679,"object_type":"law","relational_id":62860,"identifier":"23.1-1109","token":"23.1\/III\/11\/23.1-1109","url":"\/23.1-1109\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/23.1-1109\/","token":"23.1\/III\/11\/23.1-1109","dublin_core":{"Title":"Bonds and revenues; disposition","Type":"Text","Format":"text\/html","Identifier":"\u00a7 23.1-1109","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

All moneys derived from the sale of bonds<\/span> pursuant to \u00a7 23.1-1106<\/a> and all revenues derived from any source set forth in subdivision C 1 a, b, or c of \u00a7 23.1-1106<\/a>, except those moneys that are exempt from deposit into the state treasury, shall be paid into the state treasury, set aside in special funds, and devoted solely to the payment of (i) the cost of erecting the project<\/span> for which such bonds<\/span> have been issued, (ii) the principal of and the interest on such bonds<\/span>, and (iii) the cost of maintenance and operation of such project<\/span> and any other existing facilities for which any revenue is pledged either in whole or in part to the payment of the principal of and the interest on such bonds<\/span>, respectively, and are specifically appropriated for such purposes to be paid out by the State Treasurer on warrants of the Comptroller to be issued on vouchers of the treasurer or other fiscal officer of the board<\/span> of such institution<\/span>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nBONDS AND REVENUES; DISPOSITION (\u00a7 23.1-1109)\n\nAll moneys derived from the sale of bonds pursuant to \u00a7 23.1-1106 and all\nrevenues derived from any source set forth in subdivision C 1 a, b, or c of \u00a7\n23.1-1106, except those moneys that are exempt from deposit into the state\ntreasury, shall be paid into the state treasury, set aside in special funds, and\ndevoted solely to the payment of (i) the cost of erecting the project for which\nsuch bonds have been issued, (ii) the principal of and the interest on such\nbonds, and (iii) the cost of maintenance and operation of such project and any\nother existing facilities for which any revenue is pledged either in whole or in\npart to the payment of the principal of and the interest on such bonds,\nrespectively, and are specifically appropriated for such purposes to be paid out\nby the State Treasurer on warrants of the Comptroller to be issued on vouchers\nof the treasurer or other fiscal officer of the board of such institution.\n\nHISTORY: 1933, p. 88, \u00a7 23-21; 1946, p. 187; 1962, c. 373; 1964, c. 635; 1997,\nc. 308; 2016, c. 588.","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}}