{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/33.2-1513.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/33.2-1513.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/33.2-1513.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/33.2-1513.html"}],"law_id":87385,"edition_id":1,"section_id":87385,"structure_id":16379,"section_number":"33.2-1513","catch_line":"Use of proceeds of Notes","history":"2011, cc. 830, 868, \u00a7 33.1-23.16; 2014, c. 805.","full_text":"A\n\nThe net proceeds of the Notes shall be used exclusively for the purpose of providing funds, together with any other available funds, for paying the costs incurred or to be incurred for construction or funding of such projects to be designated by the Board.B\n\nThe proceeds of Notes, including any premium received on the sale thereof, shall be made available by the Board to pay costs of the projects and, where appropriate, may be paid to any authority, locality, commission, or other entity for the purposes of paying for costs of the projects. The proceeds of Notes may be used together with any federal, local, or private funds that may be made available for such purpose. The proceeds of Notes, together with any investment earnings thereon, may at the discretion of the Board secure the payment of principal or purchase price of and redemption premium, if any, and interest on Notes.","order_by":null,"text":{"0":{"id":312897,"text":"The net proceeds of the Notes shall be used exclusively for the purpose of providing funds, together with any other available funds, for paying the costs incurred or to be incurred for construction or funding of such projects to be designated by the Board.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":312898,"text":"The proceeds of Notes, including any premium received on the sale thereof, shall be made available by the Board to pay costs of the projects and, where appropriate, may be paid to any authority, locality, commission, or other entity for the purposes of paying for costs of the projects. The proceeds of Notes may be used together with any federal, local, or private funds that may be made available for such purpose. The proceeds of Notes, together with any investment earnings thereon, may at the discretion of the Board secure the payment of principal or purchase price of and redemption premium, if any, and interest on Notes.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":16379,"edition_id":1,"name":"Commonwealth of Virginia Federal Transportation Grant Anticipation Revenue Notes Act of 2011","identifier":"4","label":"article","depth":4,"order_by":1,"parent_id":13147,"metadata":{},"date_created":"2026-06-26 04:15:50","date_modified":"2026-06-26 04:15:50","permalink":{"id":206541,"object_type":"structure","relational_id":16379,"identifier":"4","token":"33.2\/III\/15\/4","url":"\/33.2\/III\/15\/4\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13147,"edition_id":1,"name":"Transportation Funding","identifier":"15","label":"chapter","depth":3,"order_by":1,"parent_id":13146,"metadata":{},"date_created":"2026-06-26 03:44:21","date_modified":"2026-06-26 03:44:21","permalink":{"id":206485,"object_type":"structure","relational_id":13147,"identifier":"15","token":"33.2\/III\/15","url":"\/33.2\/III\/15\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13146,"edition_id":1,"name":"Transportation Funding and Development","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12806,"metadata":{},"date_created":"2026-06-26 03:44:21","date_modified":"2026-06-26 03:44:21","permalink":{"id":206483,"object_type":"structure","relational_id":13146,"identifier":"III","token":"33.2\/III","url":"\/33.2\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12806,"edition_id":1,"name":"Highways and Other Surface Transportation Systems","identifier":"33.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:54","date_modified":"2026-06-26 03:43:54","permalink":{"id":204785,"object_type":"structure","relational_id":12806,"identifier":"33.2","token":"33.2","url":"\/33.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":80941,"structure_id":16379,"section_number":"33.2-1511","catch_line":"Definitions","url":"\/33.2-1511\/","token":"33.2\/III\/15\/4\/33.2-1511","metadata":false},{"id":79388,"structure_id":16379,"section_number":"33.2-1512","catch_line":"Authorization of Notes","url":"\/33.2-1512\/","token":"33.2\/III\/15\/4\/33.2-1512","metadata":false},{"id":87385,"structure_id":16379,"section_number":"33.2-1513","catch_line":"Use of proceeds of Notes","url":"\/33.2-1513\/","token":"33.2\/III\/15\/4\/33.2-1513","metadata":false},{"id":82093,"structure_id":16379,"section_number":"33.2-1514","catch_line":"Details of Notes","url":"\/33.2-1514\/","token":"33.2\/III\/15\/4\/33.2-1514","metadata":false},{"id":67585,"structure_id":16379,"section_number":"33.2-1515","catch_line":"Form and manner of execution; signature of person ceasing to be officer","url":"\/33.2-1515\/","token":"33.2\/III\/15\/4\/33.2-1515","metadata":false},{"id":72010,"structure_id":16379,"section_number":"33.2-1516","catch_line":"Authority to obtain GARVEE approval","url":"\/33.2-1516\/","token":"33.2\/III\/15\/4\/33.2-1516","metadata":false},{"id":84338,"structure_id":16379,"section_number":"33.2-1517","catch_line":"Expenses","url":"\/33.2-1517\/","token":"33.2\/III\/15\/4\/33.2-1517","metadata":false},{"id":78007,"structure_id":16379,"section_number":"33.2-1518","catch_line":"Deposit of proceeds","url":"\/33.2-1518\/","token":"33.2\/III\/15\/4\/33.2-1518","metadata":false},{"id":81558,"structure_id":16379,"section_number":"33.2-1519","catch_line":"Other funds","url":"\/33.2-1519\/","token":"33.2\/III\/15\/4\/33.2-1519","metadata":false},{"id":77654,"structure_id":16379,"section_number":"33.2-1520","catch_line":"Application of project-specific reimbursements","url":"\/33.2-1520\/","token":"33.2\/III\/15\/4\/33.2-1520","metadata":false},{"id":70331,"structure_id":16379,"section_number":"33.2-1521","catch_line":"Investment of proceeds and other amounts","url":"\/33.2-1521\/","token":"33.2\/III\/15\/4\/33.2-1521","metadata":false},{"id":81159,"structure_id":16379,"section_number":"33.2-1522","catch_line":"Exemption from taxation","url":"\/33.2-1522\/","token":"33.2\/III\/15\/4\/33.2-1522","metadata":false},{"id":86711,"structure_id":16379,"section_number":"33.2-1523","catch_line":"Notes as eligible securities","url":"\/33.2-1523\/","token":"33.2\/III\/15\/4\/33.2-1523","metadata":false}],"previous_section":{"id":79388,"structure_id":16379,"section_number":"33.2-1512","catch_line":"Authorization of Notes","url":"\/33.2-1512\/","token":"33.2\/III\/15\/4\/33.2-1512","metadata":false},"next_section":{"id":82093,"structure_id":16379,"section_number":"33.2-1514","catch_line":"Details of Notes","url":"\/33.2-1514\/","token":"33.2\/III\/15\/4\/33.2-1514","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/33.2-1513\/","history_text":"

This law was first created in 2011. The record of its establishment is cataloged in chapters 830<\/a> and 868<\/a> 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. 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 2014, chapter 805<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":206551,"object_type":"law","relational_id":87385,"identifier":"33.2-1513","token":"33.2\/III\/15\/4\/33.2-1513","url":"\/33.2-1513\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/33.2-1513\/","token":"33.2\/III\/15\/4\/33.2-1513","dublin_core":{"Title":"Use of proceeds of Notes","Type":"Text","Format":"text\/html","Identifier":"\u00a7 33.2-1513","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The net proceeds of the Notes<\/span> shall be used exclusively for the purpose of providing funds, together with any other available funds, for paying the costs incurred or to be incurred for construction or funding of such projects to be designated by the Board<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The proceeds of Notes<\/span>, including any premium received on the sale thereof, shall be made available by the Board<\/span> to pay costs of the projects and, where appropriate, may be paid to any authority, locality, commission, or other entity for the purposes of paying for costs of the projects. The proceeds of Notes<\/span> may be used together with any federal, local, or private funds that may be made available for such purpose. The proceeds of Notes<\/span>, together with any investment earnings thereon, may at the discretion of the Board<\/span> secure the payment of principal or purchase price of and redemption<\/span> premium, if any, and interest on Notes<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nUSE OF PROCEEDS OF NOTES (\u00a7 33.2-1513)\n\nA. The net proceeds of the Notes shall be used exclusively for the purpose of\nproviding funds, together with any other available funds, for paying the costs\nincurred or to be incurred for construction or funding of such projects to be\ndesignated by the Board.\n\nB. The proceeds of Notes, including any premium received on the sale thereof,\nshall be made available by the Board to pay costs of the projects and, where\nappropriate, may be paid to any authority, locality, commission, or other entity\nfor the purposes of paying for costs of the projects. The proceeds of Notes may\nbe used together with any federal, local, or private funds that may be made\navailable for such purpose. The proceeds of Notes, together with any investment\nearnings thereon, may at the discretion of the Board secure the payment of\nprincipal or purchase price of and redemption premium, if any, and interest on\nNotes.\n\nHISTORY: 2011, cc. 830, 868, \u00a7 33.1-23.16; 2014, c. 805.","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}}