{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/23.1-1119.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/23.1-1119.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/23.1-1119.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/23.1-1119.html"}],"law_id":55164,"edition_id":1,"section_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","history":"Code 1919, \u00a7 990, \u00a7 23-5; 2016, c. 588.","full_text":"The Comptroller shall draw upon the state treasury in favor of the proper authorities of any public institution of higher education or private institution of higher education for all accrued interest, upon all obligations of the Commonwealth or the James River and Kanawha Company guaranteed by the Commonwealth that are held by or for such institution. No interest shall be paid upon any such bonds.","order_by":null,"text":{"0":{"id":202228,"text":"The Comptroller shall draw upon the state treasury in favor of the proper authorities of any public institution of higher education or private institution of higher education for all accrued interest, upon all obligations of the Commonwealth or the James River and Kanawha Company guaranteed by the Commonwealth that are held by or for such institution. No interest shall be paid upon any such bonds.","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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/23.1-1119\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. 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 2016, chapter 588<\/a>.<\/p>","references":[{"id":65904,"section_number":"23.1-1015","catch_line":"Covered institutions; operational authority; financial operations; power to issue bonds, notes, or other obligations","order_by":null,"url":"\/23.1-1015\/"}],"refers_to":false,"permalink":{"id":185719,"object_type":"law","relational_id":55164,"identifier":"23.1-1119","token":"23.1\/III\/11\/23.1-1119","url":"\/23.1-1119\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/23.1-1119\/","token":"23.1\/III\/11\/23.1-1119","dublin_core":{"Title":"Payment of interest on bonds of the Commonwealth held by public institutions of higher education and private institutions of higher education","Type":"Text","Format":"text\/html","Identifier":"\u00a7 23.1-1119","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The Comptroller shall draw upon the state treasury in favor of the proper authorities of any public institution of higher education<\/span> or private institution of higher education<\/span> for all accrued interest, upon all obligations of the Commonwealth or the James River and Kanawha Company guaranteed by the Commonwealth that are held by or for such institution. No interest shall be paid upon any such bonds<\/span>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPAYMENT OF INTEREST ON BONDS OF THE COMMONWEALTH HELD BY PUBLIC INSTITUTIONS OF\nHIGHER EDUCATION AND PRIVATE INSTITUTIONS OF HIGHER EDUCATION (\u00a7 23.1-1119)\n\nThe Comptroller shall draw upon the state treasury in favor of the proper\nauthorities of any public institution of higher education or private institution\nof higher education for all accrued interest, upon all obligations of the\nCommonwealth or the James River and Kanawha Company guaranteed by the\nCommonwealth that are held by or for such institution. No interest shall be paid\nupon any such bonds.\n\nHISTORY: Code 1919, \u00a7 990, \u00a7 23-5; 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}}