{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/23.1-1200.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/23.1-1200.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/23.1-1200.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/23.1-1200.html"}],"law_id":84904,"edition_id":1,"section_id":84904,"structure_id":15508,"section_number":"23.1-1200","catch_line":"Definitions; findings","history":"1964, c. 607, \u00a7 23-30.24; 1966, c. 685; 1986, c. 597; 1996, cc. 672, 689; 2016, c. 588; 2023, cc. 756, 778.","full_text":"A\n\nAs used in this article, unless the context requires a different meaning:\n\t\t\t“Authority” means the Virginia College Building Authority.\n\t\t\t“Bond” means any bond, note, or other evidences of indebtedness or obligation of the Authority pursuant to this article.\n\t\t\t“Eligible institution” means public institutions of higher education, as that term is defined in § 23.1-100, the Institute for Advanced Learning and Research, the New College Institute, the Roanoke Higher Education Authority, the Southern Virginia Higher Education Center, the Southwest Virginia Higher Education Center, the Virginia School for the Deaf and the Blind, and the Wilson Workforce and Rehabilitation Center.\n\t\t\t“Equipment” means any personal property, including computer hardware and software, and any other improvements, including infrastructure improvements relating to equipment, used to support academic instruction and research at eligible institutions.\n\t\t\t“Project” has the same meaning as set forth in § 23.1-1100.B\n\nProviding funds for the construction of projects at eligible institutions is or may be hindered, impeded, and delayed by the high financing costs resulting from the sale of bonds of such eligible institutions in the open market, and it is desirable that the Authority may (i) serve the purposes of eligible institutions by purchasing such bonds and financing the construction of projects at a lower cost, which facilitates such construction and (ii) issue its own revenue bonds for the purpose of paying the costs of such projects.C\n\nThere is an urgent need to provide substantial amounts of new scientific, technical, and other equipment for academic instruction, research, and related activities at eligible institutions so that they may remain competitive in attracting high-quality faculty and obtaining research grants, and it is desirable that the Authority may finance the purchase of such equipment to provide eligible institutions with such equipment at the lowest possible cost, which facilitates the acquisition and supply of such equipment to eligible institutions and increases the purchasing power of their funds, including funds provided by tuition and fees and appropriations from the General Assembly.","order_by":null,"text":{"0":{"id":304223,"text":"As used in this article, unless the context requires a different meaning:\n\t\t\t“Authority” means the Virginia College Building Authority.\n\t\t\t“Bond” means any bond, note, or other evidences of indebtedness or obligation of the Authority pursuant to this article.\n\t\t\t“Eligible institution” means public institutions of higher education, as that term is defined in § 23.1-100, the Institute for Advanced Learning and Research, the New College Institute, the Roanoke Higher Education Authority, the Southern Virginia Higher Education Center, the Southwest Virginia Higher Education Center, the Virginia School for the Deaf and the Blind, and the Wilson Workforce and Rehabilitation Center.\n\t\t\t“Equipment” means any personal property, including computer hardware and software, and any other improvements, including infrastructure improvements relating to equipment, used to support academic instruction and research at eligible institutions.\n\t\t\t“Project” has the same meaning as set forth in § 23.1-1100.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":304224,"text":"Providing funds for the construction of projects at eligible institutions is or may be hindered, impeded, and delayed by the high financing costs resulting from the sale of bonds of such eligible institutions in the open market, and it is desirable that the Authority may (i) serve the purposes of eligible institutions by purchasing such bonds and financing the construction of projects at a lower cost, which facilitates such construction and (ii) issue its own revenue bonds for the purpose of paying the costs of such projects.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":304225,"text":"There is an urgent need to provide substantial amounts of new scientific, technical, and other equipment for academic instruction, research, and related activities at eligible institutions so that they may remain competitive in attracting high-quality faculty and obtaining research grants, and it is desirable that the Authority may finance the purchase of such equipment to provide eligible institutions with such equipment at the lowest possible cost, which facilitates the acquisition and supply of such equipment to eligible institutions and increases the purchasing power of their funds, including funds provided by tuition and fees and appropriations from the General Assembly.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":15508,"edition_id":1,"name":"General Provisions; Powers and Duties","identifier":"1","label":"article","depth":4,"order_by":1,"parent_id":14345,"metadata":{},"date_created":"2026-06-26 03:55:39","date_modified":"2026-06-26 03:55:39","permalink":{"id":185737,"object_type":"structure","relational_id":15508,"identifier":"1","token":"23.1\/III\/12\/1","url":"\/23.1\/III\/12\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":14345,"edition_id":1,"name":"Virginia College Building Authority","identifier":"12","label":"chapter","depth":3,"order_by":1,"parent_id":14060,"metadata":{},"date_created":"2026-06-26 03:47:49","date_modified":"2026-06-26 03:47:49","permalink":{"id":185735,"object_type":"structure","relational_id":14345,"identifier":"12","token":"23.1\/III\/12","url":"\/23.1\/III\/12\/","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":84904,"structure_id":15508,"section_number":"23.1-1200","catch_line":"Definitions; findings","url":"\/23.1-1200\/","token":"23.1\/III\/12\/1\/23.1-1200","metadata":false},{"id":72257,"structure_id":15508,"section_number":"23.1-1201","catch_line":"Virginia College Building Authority established","url":"\/23.1-1201\/","token":"23.1\/III\/12\/1\/23.1-1201","metadata":false},{"id":83905,"structure_id":15508,"section_number":"23.1-1202","catch_line":"Action by Authority may be authorized by resolution","url":"\/23.1-1202\/","token":"23.1\/III\/12\/1\/23.1-1202","metadata":false},{"id":77677,"structure_id":15508,"section_number":"23.1-1203","catch_line":"Powers of Authority generally","url":"\/23.1-1203\/","token":"23.1\/III\/12\/1\/23.1-1203","metadata":false},{"id":86522,"structure_id":15508,"section_number":"23.1-1204","catch_line":"Duties; administration of assets, moneys, or obligations","url":"\/23.1-1204\/","token":"23.1\/III\/12\/1\/23.1-1204","metadata":false},{"id":73472,"structure_id":15508,"section_number":"23.1-1205","catch_line":"Powers; purchase or sale of bonds or other obligations of eligible institutions","url":"\/23.1-1205\/","token":"23.1\/III\/12\/1\/23.1-1205","metadata":false},{"id":71767,"structure_id":15508,"section_number":"23.1-1206","catch_line":"Powers; acquisition or disposition of equipment","url":"\/23.1-1206\/","token":"23.1\/III\/12\/1\/23.1-1206","metadata":false},{"id":71770,"structure_id":15508,"section_number":"23.1-1207","catch_line":"Powers; bonds of Authority generally","url":"\/23.1-1207\/","token":"23.1\/III\/12\/1\/23.1-1207","metadata":false},{"id":67521,"structure_id":15508,"section_number":"23.1-1208","catch_line":"Security for bonds","url":"\/23.1-1208\/","token":"23.1\/III\/12\/1\/23.1-1208","metadata":false},{"id":69367,"structure_id":15508,"section_number":"23.1-1209","catch_line":"Reserve fund; limitations","url":"\/23.1-1209\/","token":"23.1\/III\/12\/1\/23.1-1209","metadata":false},{"id":80005,"structure_id":15508,"section_number":"23.1-1210","catch_line":"Payment on bonds; pledge of 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process","url":"\/23.1-1219\/","token":"23.1\/III\/12\/1\/23.1-1219","metadata":false}],"next_section":{"id":72257,"structure_id":15508,"section_number":"23.1-1201","catch_line":"Virginia College Building Authority established","url":"\/23.1-1201\/","token":"23.1\/III\/12\/1\/23.1-1201","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/23.1-1200\/","history_text":"

This law was first created in 1964. The record of its establishment is cataloged in chapter 607 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. Unfortunately, the 1964 \u201cActs\u201d aren\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 1966, chapter 685; in 1986, chapter 597; in 1996, chapters 672<\/a> and 689<\/a>; in 2016, chapter 588<\/a>; in 2023, chapters 756<\/a> and 778<\/a>.<\/p>","references":[{"id":56640,"section_number":"23.1-1006","catch_line":"Management agreement; contents and scope","order_by":null,"url":"\/23.1-1006\/"},{"id":73805,"section_number":"23.1-1220","catch_line":"Definitions","order_by":null,"url":"\/23.1-1220\/"}],"refers_to":[{"id":59984,"section_number":"23.1-100","catch_line":"Definitions","order_by":null,"url":"\/23.1-100\/"}],"permalink":{"id":185739,"object_type":"law","relational_id":84904,"identifier":"23.1-1200","token":"23.1\/III\/12\/1\/23.1-1200","url":"\/23.1-1200\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/23.1-1200\/","token":"23.1\/III\/12\/1\/23.1-1200","dublin_core":{"Title":"Definitions; findings","Type":"Text","Format":"text\/html","Identifier":"\u00a7 23.1-1200","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> As used in this article, unless the context requires a different meaning:\n\t\t\t“Authority<\/span>” means the Virginia College Building Authority<\/span>.\n\t\t\t“Bond<\/span>” means any bond<\/span>, note, or other evidences<\/span> of indebtedness or obligation of the Authority<\/span> pursuant to this article.\n\t\t\t“Eligible institution<\/span>” means public institutions of higher education, as that term is defined in § 23.1-100<\/a>, the Institute for Advanced Learning and Research, the New College Institute, the Roanoke Higher Education Authority<\/span>, the Southern Virginia Higher Education Center, the Southwest Virginia Higher Education Center, the Virginia School for the Deaf and the Blind, and the Wilson Workforce and Rehabilitation Center.\n\t\t\t“Equipment<\/span>” means any personal property, including computer hardware and software, and any other improvements, including infrastructure improvements relating to equipment<\/span>, used to support academic instruction and research at eligible institutions<\/span>.\n\t\t\t“Project<\/span>” has the same meaning as set forth in § 23.1-1100<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Providing funds for the construction of projects<\/span> at eligible institutions<\/span> is or may be hindered, impeded, and delayed by the high financing costs resulting from the sale of bonds<\/span> of such eligible institutions<\/span> in the open market, and it is desirable that the Authority<\/span> may (i) serve the purposes of eligible institutions<\/span> by purchasing such bonds<\/span> and financing the construction of projects<\/span> at a lower cost, which facilitates such construction and (ii) issue<\/span> its own revenue bonds<\/span> for the purpose of paying the costs of such projects<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> There is an urgent need to provide substantial amounts of new scientific, technical, and other equipment<\/span> for academic instruction, research, and related activities at eligible institutions<\/span> so that they may remain competitive in attracting high-quality faculty and obtaining research grants, and it is desirable that the Authority<\/span> may finance the purchase of such equipment<\/span> to provide eligible institutions<\/span> with such equipment<\/span> at the lowest possible cost, which facilitates the acquisition and supply of such equipment<\/span> to eligible institutions<\/span> and increases the purchasing power of their funds, including funds provided by tuition and fees and appropriations from the General Assembly. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDEFINITIONS; FINDINGS (\u00a7 23.1-1200)\n\nA. As used in this article, unless the context requires a different meaning:\n\t\t\t“Authority” means the Virginia College Building Authority.\n\t\t\t“Bond” means any bond, note, or other evidences of indebtedness\nor obligation of the Authority pursuant to this article.\n\t\t\t“Eligible institution” means public institutions of higher\neducation, as that term is defined in § 23.1-100, the Institute for\nAdvanced Learning and Research, the New College Institute, the Roanoke Higher\nEducation Authority, the Southern Virginia Higher Education Center, the\nSouthwest Virginia Higher Education Center, the Virginia School for the Deaf and\nthe Blind, and the Wilson Workforce and Rehabilitation Center.\n\t\t\t“Equipment” means any personal property, including computer\nhardware and software, and any other improvements, including infrastructure\nimprovements relating to equipment, used to support academic instruction and\nresearch at eligible institutions.\n\t\t\t“Project” has the same meaning as set forth in § 23.1-1100.\n\nB. Providing funds for the construction of projects at eligible institutions is\nor may be hindered, impeded, and delayed by the high financing costs resulting\nfrom the sale of bonds of such eligible institutions in the open market, and it\nis desirable that the Authority may (i) serve the purposes of eligible\ninstitutions by purchasing such bonds and financing the construction of projects\nat a lower cost, which facilitates such construction and (ii) issue its own\nrevenue bonds for the purpose of paying the costs of such projects.\n\nC. There is an urgent need to provide substantial amounts of new scientific,\ntechnical, and other equipment for academic instruction, research, and related\nactivities at eligible institutions so that they may remain competitive in\nattracting high-quality faculty and obtaining research grants, and it is\ndesirable that the Authority may finance the purchase of such equipment to\nprovide eligible institutions with such equipment at the lowest possible cost,\nwhich facilitates the acquisition and supply of such equipment to eligible\ninstitutions and increases the purchasing power of their funds, including funds\nprovided by tuition and fees and appropriations from the General Assembly.\n\nHISTORY: 1964, c. 607, \u00a7 23-30.24; 1966, c. 685; 1986, c. 597; 1996, cc. 672,\n689; 2016, c. 588; 2023, cc. 756, 778.","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}}