{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/23.1-1224.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/23.1-1224.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/23.1-1224.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/23.1-1224.html"}],"law_id":66894,"edition_id":1,"section_id":66894,"structure_id":14346,"section_number":"23.1-1224","catch_line":"Duties; conveyance of title to projects","history":"1972, c. 686, \u00a7 23-30.45; 2016, c. 588.","full_text":"When (i)(a) the principal of and interest on revenue bonds of the Authority issued to finance the cost of a project for any participating institutions, including any revenue refunding bonds issued to refund and refinance such revenue bonds, have been fully paid and retired or (b) adequate provision has been made to fully pay and retire such bonds; (ii) all other conditions of the resolution or trust agreement authorizing and securing the same have been satisfied; and (iii) the lien of such resolution or trust agreement has been released in accordance with the provisions of such resolution or trust agreement, the Authority shall convey title to such project to such participating institution free and clear of all liens and encumbrances if title to such project is not yet vested in such participating institution.","order_by":null,"text":{"0":{"id":242566,"text":"When (i)(a) the principal of and interest on revenue bonds of the Authority issued to finance the cost of a project for any participating institutions, including any revenue refunding bonds issued to refund and refinance such revenue bonds, have been fully paid and retired or (b) adequate provision has been made to fully pay and retire such bonds; (ii) all other conditions of the resolution or trust agreement authorizing and securing the same have been satisfied; and (iii) the lien of such resolution or trust agreement has been released in accordance with the provisions of such resolution or trust agreement, the Authority shall convey title to such project to such participating institution free and clear of all liens and encumbrances if title to such project is not yet vested in such participating institution.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14346,"edition_id":1,"name":"Nonprofit Private Institutions of Higher Education; Projects","identifier":"2","label":"article","depth":4,"order_by":1,"parent_id":14345,"metadata":{},"date_created":"2026-06-26 03:47:49","date_modified":"2026-06-26 03:47:49","permalink":{"id":185819,"object_type":"structure","relational_id":14346,"identifier":"2","token":"23.1\/III\/12\/2","url":"\/23.1\/III\/12\/2\/","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":73805,"structure_id":14346,"section_number":"23.1-1220","catch_line":"Definitions","url":"\/23.1-1220\/","token":"23.1\/III\/12\/2\/23.1-1220","metadata":false},{"id":83471,"structure_id":14346,"section_number":"23.1-1221","catch_line":"Declaration of policy and purpose","url":"\/23.1-1221\/","token":"23.1\/III\/12\/2\/23.1-1221","metadata":false},{"id":59362,"structure_id":14346,"section_number":"23.1-1222","catch_line":"Expenses of administering article","url":"\/23.1-1222\/","token":"23.1\/III\/12\/2\/23.1-1222","metadata":false},{"id":84443,"structure_id":14346,"section_number":"23.1-1223","catch_line":"Powers and duties of Authority","url":"\/23.1-1223\/","token":"23.1\/III\/12\/2\/23.1-1223","metadata":false},{"id":66894,"structure_id":14346,"section_number":"23.1-1224","catch_line":"Duties; conveyance of title to projects","url":"\/23.1-1224\/","token":"23.1\/III\/12\/2\/23.1-1224","metadata":false},{"id":76829,"structure_id":14346,"section_number":"23.1-1225","catch_line":"Powers; acquisition of property","url":"\/23.1-1225\/","token":"23.1\/III\/12\/2\/23.1-1225","metadata":false},{"id":84223,"structure_id":14346,"section_number":"23.1-1226","catch_line":"Powers; issuance of negotiable notes","url":"\/23.1-1226\/","token":"23.1\/III\/12\/2\/23.1-1226","metadata":false},{"id":59092,"structure_id":14346,"section_number":"23.1-1227","catch_line":"Powers; issuance of revenue bonds","url":"\/23.1-1227\/","token":"23.1\/III\/12\/2\/23.1-1227","metadata":false},{"id":60865,"structure_id":14346,"section_number":"23.1-1228","catch_line":"Powers; security for revenue bonds","url":"\/23.1-1228\/","token":"23.1\/III\/12\/2\/23.1-1228","metadata":false},{"id":61490,"structure_id":14346,"section_number":"23.1-1229","catch_line":"Powers and duties; rates, rents, fees and charges; sinking fund","url":"\/23.1-1229\/","token":"23.1\/III\/12\/2\/23.1-1229","metadata":false},{"id":70880,"structure_id":14346,"section_number":"23.1-1230","catch_line":"Powers; issuance of refunding revenue bonds","url":"\/23.1-1230\/","token":"23.1\/III\/12\/2\/23.1-1230","metadata":false},{"id":55658,"structure_id":14346,"section_number":"23.1-1231","catch_line":"Revenue bonds not obligations of Commonwealth or political subdivision","url":"\/23.1-1231\/","token":"23.1\/III\/12\/2\/23.1-1231","metadata":false},{"id":77411,"structure_id":14346,"section_number":"23.1-1232","catch_line":"Moneys received deemed trust funds","url":"\/23.1-1232\/","token":"23.1\/III\/12\/2\/23.1-1232","metadata":false},{"id":85842,"structure_id":14346,"section_number":"23.1-1233","catch_line":"Remedies of bondholders or holders of other obligations","url":"\/23.1-1233\/","token":"23.1\/III\/12\/2\/23.1-1233","metadata":false},{"id":59718,"structure_id":14346,"section_number":"23.1-1234","catch_line":"Exemption from taxation","url":"\/23.1-1234\/","token":"23.1\/III\/12\/2\/23.1-1234","metadata":false},{"id":73156,"structure_id":14346,"section_number":"23.1-1235","catch_line":"Bonds as legal investments","url":"\/23.1-1235\/","token":"23.1\/III\/12\/2\/23.1-1235","metadata":false},{"id":78104,"structure_id":14346,"section_number":"23.1-1236","catch_line":"Nature of article","url":"\/23.1-1236\/","token":"23.1\/III\/12\/2\/23.1-1236","metadata":false},{"id":70543,"structure_id":14346,"section_number":"23.1-1237","catch_line":"Article liberally construed","url":"\/23.1-1237\/","token":"23.1\/III\/12\/2\/23.1-1237","metadata":false},{"id":60580,"structure_id":14346,"section_number":"23.1-1238","catch_line":"Article controls inconsistent laws","url":"\/23.1-1238\/","token":"23.1\/III\/12\/2\/23.1-1238","metadata":false}],"previous_section":{"id":84443,"structure_id":14346,"section_number":"23.1-1223","catch_line":"Powers and duties of Authority","url":"\/23.1-1223\/","token":"23.1\/III\/12\/2\/23.1-1223","metadata":false},"next_section":{"id":76829,"structure_id":14346,"section_number":"23.1-1225","catch_line":"Powers; acquisition of property","url":"\/23.1-1225\/","token":"23.1\/III\/12\/2\/23.1-1225","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/23.1-1224\/","history_text":"

This law was first created in 1972. The record of its establishment is cataloged in chapter 686 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 1972 \u201cActs\u201d aren\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":false,"refers_to":false,"permalink":{"id":185837,"object_type":"law","relational_id":66894,"identifier":"23.1-1224","token":"23.1\/III\/12\/2\/23.1-1224","url":"\/23.1-1224\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/23.1-1224\/","token":"23.1\/III\/12\/2\/23.1-1224","dublin_core":{"Title":"Duties; conveyance of title to projects","Type":"Text","Format":"text\/html","Identifier":"\u00a7 23.1-1224","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

When (i)(a) the principal of and interest on revenue bonds<\/span> of the Authority<\/span> issued to finance the cost of a project<\/span> for any participating institutions<\/span>, including any revenue refunding bonds issued to refund and refinance such revenue bonds<\/span>, have been fully paid and retired or (b) adequate provision has been made to fully pay and retire such bonds; (ii) all other conditions of the resolution or trust agreement authorizing and securing the same have been satisfied; and (iii) the lien<\/span> of such resolution or trust agreement has been released in accordance with the provisions of such resolution or trust agreement, the Authority<\/span> shall convey title to such project<\/span> to such participating institution<\/span> free and clear of all liens<\/span> and encumbrances if title to such project<\/span> is not yet vested in such participating institution<\/span>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDUTIES; CONVEYANCE OF TITLE TO PROJECTS (\u00a7 23.1-1224)\n\nWhen (i)(a) the principal of and interest on revenue bonds of the Authority\nissued to finance the cost of a project for any participating institutions,\nincluding any revenue refunding bonds issued to refund and refinance such\nrevenue bonds, have been fully paid and retired or (b) adequate provision has\nbeen made to fully pay and retire such bonds; (ii) all other conditions of the\nresolution or trust agreement authorizing and securing the same have been\nsatisfied; and (iii) the lien of such resolution or trust agreement has been\nreleased in accordance with the provisions of such resolution or trust\nagreement, the Authority shall convey title to such project to such\nparticipating institution free and clear of all liens and encumbrances if title\nto such project is not yet vested in such participating institution.\n\nHISTORY: 1972, c. 686, \u00a7 23-30.45; 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}}