{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/23.1-1114.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/23.1-1114.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/23.1-1114.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/23.1-1114.html"}],"law_id":62990,"edition_id":1,"section_id":62990,"structure_id":14061,"section_number":"23.1-1114","catch_line":"Projects; accounts to be kept by boards","history":"1933, p. 89, \u00a7 23-22; 1962, c. 373; 1964, c. 635; 1984, c. 734; 2016, c. 588.","full_text":"The board of each institution shall keep and preserve complete and accurate accounts of all sums of money received and disbursed to acquire, erect, lease, operate, or maintain any project and any other existing facilities, including a complete and accurate record of all revenues derived from any source set forth in subdivision C 1 a, b, c, or d of \u00a7 23.1-1106 and all sums disbursed for the payment of the principal of or interest on or other debt service with respect to any bonds issued pursuant to this chapter. The annual portion of such revenues that are not required to discharge any obligation, liability, or debt of the institution incurred in connection with the project or other existing facilities, including the creation of reserves for such purposes, shall be paid into the state treasury as provided in \u00a7 23.1-1109.","order_by":null,"text":{"0":{"id":229755,"text":"The board of each institution shall keep and preserve complete and accurate accounts of all sums of money received and disbursed to acquire, erect, lease, operate, or maintain any project and any other existing facilities, including a complete and accurate record of all revenues derived from any source set forth in subdivision C 1 a, b, c, or d of \u00a7 23.1-1106 and all sums disbursed for the payment of the principal of or interest on or other debt service with respect to any bonds issued pursuant to this chapter. The annual portion of such revenues that are not required to discharge any obligation, liability, or debt of the institution incurred in connection with the project or other existing facilities, including the creation of reserves for such purposes, shall be paid into the state treasury as provided in \u00a7 23.1-1109.","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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/23.1-1114\/","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 1984, chapter 734; in 2016, chapter 588<\/a>.<\/p>","references":false,"refers_to":[{"id":77983,"section_number":"23.1-1106","catch_line":"Bonds generally","order_by":null,"url":"\/23.1-1106\/"},{"id":62860,"section_number":"23.1-1109","catch_line":"Bonds and revenues; disposition","order_by":null,"url":"\/23.1-1109\/"}],"permalink":{"id":185699,"object_type":"law","relational_id":62990,"identifier":"23.1-1114","token":"23.1\/III\/11\/23.1-1114","url":"\/23.1-1114\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/23.1-1114\/","token":"23.1\/III\/11\/23.1-1114","dublin_core":{"Title":"Projects; accounts to be kept by boards","Type":"Text","Format":"text\/html","Identifier":"\u00a7 23.1-1114","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The board<\/span> of each institution<\/span> shall keep and preserve complete and accurate accounts of all sums of money received and disbursed to acquire, erect<\/span>, lease, operate, or maintain any project<\/span> and any other existing facilities, including a complete and accurate record of all revenues derived from any source set forth in subdivision C 1 a, b, c, or d of \u00a7 23.1-1106<\/a> and all sums disbursed for the payment of the principal of or interest on or other debt service with respect to any bonds<\/span> issued pursuant to this chapter. The annual portion of such revenues that are not required to discharge any obligation, liability, or debt of the institution<\/span> incurred in connection with the project<\/span> or other existing facilities, including the creation of reserves for such purposes, shall be paid into the state treasury as provided in \u00a7 23.1-1109<\/a>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPROJECTS; ACCOUNTS TO BE KEPT BY BOARDS (\u00a7 23.1-1114)\n\nThe board of each institution shall keep and preserve complete and accurate\naccounts of all sums of money received and disbursed to acquire, erect, lease,\noperate, or maintain any project and any other existing facilities, including a\ncomplete and accurate record of all revenues derived from any source set forth\nin subdivision C 1 a, b, c, or d of \u00a7 23.1-1106 and all sums disbursed for the\npayment of the principal of or interest on or other debt service with respect to\nany bonds issued pursuant to this chapter. The annual portion of such revenues\nthat are not required to discharge any obligation, liability, or debt of the\ninstitution incurred in connection with the project or other existing\nfacilities, including the creation of reserves for such purposes, shall be paid\ninto the state treasury as provided in \u00a7 23.1-1109.\n\nHISTORY: 1933, p. 89, \u00a7 23-22; 1962, c. 373; 1964, c. 635; 1984, c. 734; 2016,\nc. 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}}