{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/62.1-225.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/62.1-225.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/62.1-225.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/62.1-225.html"}],"law_id":69712,"edition_id":1,"section_id":69712,"structure_id":14580,"section_number":"62.1-225","catch_line":"Creation and management of Fund","history":"1986, c. 415; 1999, c. 1012; 2009, c. 351.","full_text":"There shall be set apart as a permanent and perpetual fund, to be known as the “Virginia Water Facilities Revolving Fund,” sums appropriated to the Fund by the General Assembly, sums allocated to the Commonwealth expressly for the purposes of establishing a revolving fund concept through the Clean Water Act (33 U.S.C. \u00a7 1251 et seq.), as amended from time to time, all receipts by the Fund from loans made by it to local governments or other entities as permitted by federal law, all income from the investment of moneys held in the Fund, and any other sums designated for deposit to the Fund from any source public or private. The Fund shall be administered and managed by the Authority as prescribed in this chapter, subject to the right of the Board, following consultation with the Authority, to direct the distribution of loans or grants from the Fund to particular local governments or other entities and to establish the interest rates and repayment terms of such loans as provided in this chapter. In order to carry out the administration and management of the Fund, the Authority is granted the power to employ officers, employees, agents, advisers and consultants, including, without limitation, attorneys, financial advisers, engineers and other technical advisers and public accountants and, the provisions of any other law to the contrary notwithstanding, to determine their duties and compensation without the approval of any other agency or instrumentality. The Authority may disburse from the Fund its reasonable costs and expenses incurred in the administration and management of the Fund and a reasonable fee to be approved by the Board for its management services. The Authority may provide a portion of that fee to the Department of Environmental Quality to cover the Department’s costs and expenses in administering the construction assistance loan program.","order_by":null,"text":{"0":{"id":252019,"text":"There shall be set apart as a permanent and perpetual fund, to be known as the “Virginia Water Facilities Revolving Fund,” sums appropriated to the Fund by the General Assembly, sums allocated to the Commonwealth expressly for the purposes of establishing a revolving fund concept through the Clean Water Act (33 U.S.C. \u00a7 1251 et seq.), as amended from time to time, all receipts by the Fund from loans made by it to local governments or other entities as permitted by federal law, all income from the investment of moneys held in the Fund, and any other sums designated for deposit to the Fund from any source public or private. The Fund shall be administered and managed by the Authority as prescribed in this chapter, subject to the right of the Board, following consultation with the Authority, to direct the distribution of loans or grants from the Fund to particular local governments or other entities and to establish the interest rates and repayment terms of such loans as provided in this chapter. In order to carry out the administration and management of the Fund, the Authority is granted the power to employ officers, employees, agents, advisers and consultants, including, without limitation, attorneys, financial advisers, engineers and other technical advisers and public accountants and, the provisions of any other law to the contrary notwithstanding, to determine their duties and compensation without the approval of any other agency or instrumentality. The Authority may disburse from the Fund its reasonable costs and expenses incurred in the administration and management of the Fund and a reasonable fee to be approved by the Board for its management services. The Authority may provide a portion of that fee to the Department of Environmental Quality to cover the Department’s costs and expenses in administering the construction assistance loan program.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14580,"edition_id":1,"name":"Virginia Water Facilities Revolving Fund","identifier":"22","label":"chapter","depth":2,"order_by":1,"parent_id":12909,"metadata":{},"date_created":"2026-06-26 03:48:45","date_modified":"2026-06-26 03:48:45","permalink":{"id":268801,"object_type":"structure","relational_id":14580,"identifier":"22","token":"62.1\/22","url":"\/62.1\/22\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12909,"edition_id":1,"name":"Waters of the State, Ports and Harbors","identifier":"62.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:00","date_modified":"2026-06-26 03:44:00","permalink":{"id":268199,"object_type":"structure","relational_id":12909,"identifier":"62.1","token":"62.1","url":"\/62.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":67684,"structure_id":14580,"section_number":"62.1-224","catch_line":"Definitions","url":"\/62.1-224\/","token":"62.1\/22\/62.1-224","metadata":false},{"id":69712,"structure_id":14580,"section_number":"62.1-225","catch_line":"Creation and management of Fund","url":"\/62.1-225\/","token":"62.1\/22\/62.1-225","metadata":false},{"id":65618,"structure_id":14580,"section_number":"62.1-226","catch_line":"Deposit of money; expenditures; investments","url":"\/62.1-226\/","token":"62.1\/22\/62.1-226","metadata":false},{"id":81412,"structure_id":14580,"section_number":"62.1-227","catch_line":"Annual audit","url":"\/62.1-227\/","token":"62.1\/22\/62.1-227","metadata":false},{"id":82443,"structure_id":14580,"section_number":"62.1-228","catch_line":"Collection of money due Fund","url":"\/62.1-228\/","token":"62.1\/22\/62.1-228","metadata":false},{"id":60967,"structure_id":14580,"section_number":"62.1-229","catch_line":"Loans to local governments or other entities","url":"\/62.1-229\/","token":"62.1\/22\/62.1-229","metadata":false},{"id":56071,"structure_id":14580,"section_number":"62.1-229.1","catch_line":"Loans and grants for agricultural best management practices","url":"\/62.1-229.1\/","token":"62.1\/22\/62.1-229.1","metadata":false},{"id":83106,"structure_id":14580,"section_number":"62.1-229.2","catch_line":"Loans for remediation of contaminated properties","url":"\/62.1-229.2\/","token":"62.1\/22\/62.1-229.2","metadata":false},{"id":80766,"structure_id":14580,"section_number":"62.1-229.3","catch_line":"Loans for land conservation","url":"\/62.1-229.3\/","token":"62.1\/22\/62.1-229.3","metadata":false},{"id":59486,"structure_id":14580,"section_number":"62.1-229.4","catch_line":"Loans for stormwater runoff control best management practices","url":"\/62.1-229.4\/","token":"62.1\/22\/62.1-229.4","metadata":false},{"id":64461,"structure_id":14580,"section_number":"62.1-229.5","catch_line":"Loans for living shorelines","url":"\/62.1-229.5\/","token":"62.1\/22\/62.1-229.5","metadata":false},{"id":78413,"structure_id":14580,"section_number":"62.1-230","catch_line":"Grants to local governments","url":"\/62.1-230\/","token":"62.1\/22\/62.1-230","metadata":false},{"id":64706,"structure_id":14580,"section_number":"62.1-230.1","catch_line":"Loans and grants for regional projects, etc","url":"\/62.1-230.1\/","token":"62.1\/22\/62.1-230.1","metadata":false},{"id":62895,"structure_id":14580,"section_number":"62.1-231","catch_line":"Pledge of loans to secure bonds of Authority","url":"\/62.1-231\/","token":"62.1\/22\/62.1-231","metadata":false},{"id":85402,"structure_id":14580,"section_number":"62.1-231.1","catch_line":"Sale of loans","url":"\/62.1-231.1\/","token":"62.1\/22\/62.1-231.1","metadata":false},{"id":68414,"structure_id":14580,"section_number":"62.1-231.2","catch_line":"Powers of the Authority","url":"\/62.1-231.2\/","token":"62.1\/22\/62.1-231.2","metadata":false},{"id":63228,"structure_id":14580,"section_number":"62.1-232","catch_line":"Liberal construction of chapter","url":"\/62.1-232\/","token":"62.1\/22\/62.1-232","metadata":false}],"previous_section":{"id":67684,"structure_id":14580,"section_number":"62.1-224","catch_line":"Definitions","url":"\/62.1-224\/","token":"62.1\/22\/62.1-224","metadata":false},"next_section":{"id":65618,"structure_id":14580,"section_number":"62.1-226","catch_line":"Deposit of money; expenditures; investments","url":"\/62.1-226\/","token":"62.1\/22\/62.1-226","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/62.1-225\/","history_text":"

This law was first created in 1986. The record of its establishment is cataloged in chapter 415 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 1986 \u201cActs\u201d aren\u2019t available online. It has been modified 2 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 1999, chapter 1012<\/a>; in 2009, chapter 351<\/a>.<\/p>","references":[{"id":77973,"section_number":"62.1-44.19:14","catch_line":"Watershed general permit for nutrients","order_by":null,"url":"\/62.1-44.19_14\/"}],"refers_to":false,"permalink":{"id":268807,"object_type":"law","relational_id":69712,"identifier":"62.1-225","token":"62.1\/22\/62.1-225","url":"\/62.1-225\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/62.1-225\/","token":"62.1\/22\/62.1-225","dublin_core":{"Title":"Creation and management of Fund","Type":"Text","Format":"text\/html","Identifier":"\u00a7 62.1-225","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

There shall be set apart as a permanent and perpetual fund<\/span>, to be known as the “Virginia Water Facilities Revolving Fund<\/span>,” sums appropriated to the Fund<\/span> by the General Assembly, sums allocated to the Commonwealth expressly for the purposes of establishing a revolving fund<\/span> concept through the Clean Water Act (33 U.S.C. \u00a7 1251 et seq.), as amended from time to time, all receipts by the Fund<\/span> from loans made by it to local governments<\/span> or other entities<\/span> as permitted by federal law<\/span>, all income from the investment of moneys held in the Fund<\/span>, and any other sums designated for deposit to the Fund<\/span> from any source public or private. The Fund<\/span> shall be administered and managed by the Authority<\/span> as prescribed in this chapter, subject to the right of the Board<\/span>, following consultation with the Authority<\/span>, to direct the distribution of loans or grants from the Fund<\/span> to particular local governments<\/span> or other entities<\/span> and to establish the interest rates and repayment terms of such loans as provided in this chapter. In order<\/span> to carry out the administration and management of the Fund<\/span>, the Authority<\/span> is granted the power to employ officers, employees, agents, advisers and consultants, including, without limitation, attorneys, financial advisers, engineers and other technical advisers and public accountants and, the provisions of any other law<\/span> to the contrary notwithstanding, to determine their duties and compensation without the approval of any other agency or instrumentality. The Authority<\/span> may disburse from the Fund<\/span> its reasonable costs and expenses incurred in the administration and management of the Fund<\/span> and a reasonable fee to be approved by the Board<\/span> for its management services. The Authority<\/span> may provide a portion of that fee to the Department of Environmental Quality to cover the Department’s costs and expenses in administering the construction assistance loan program.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCREATION AND MANAGEMENT OF FUND (\u00a7 62.1-225)\n\nThere shall be set apart as a permanent and perpetual fund, to be known as the\n“Virginia Water Facilities Revolving Fund,” sums appropriated to the\nFund by the General Assembly, sums allocated to the Commonwealth expressly for\nthe purposes of establishing a revolving fund concept through the Clean Water\nAct (33 U.S.C. \u00a7 1251 et seq.), as amended from time to time, all receipts by\nthe Fund from loans made by it to local governments or other entities as\npermitted by federal law, all income from the investment of moneys held in the\nFund, and any other sums designated for deposit to the Fund from any source\npublic or private. The Fund shall be administered and managed by the Authority\nas prescribed in this chapter, subject to the right of the Board, following\nconsultation with the Authority, to direct the distribution of loans or grants\nfrom the Fund to particular local governments or other entities and to establish\nthe interest rates and repayment terms of such loans as provided in this\nchapter. In order to carry out the administration and management of the Fund,\nthe Authority is granted the power to employ officers, employees, agents,\nadvisers and consultants, including, without limitation, attorneys, financial\nadvisers, engineers and other technical advisers and public accountants and, the\nprovisions of any other law to the contrary notwithstanding, to determine their\nduties and compensation without the approval of any other agency or\ninstrumentality. The Authority may disburse from the Fund its reasonable costs\nand expenses incurred in the administration and management of the Fund and a\nreasonable fee to be approved by the Board for its management services. The\nAuthority may provide a portion of that fee to the Department of Environmental\nQuality to cover the Department’s costs and expenses in administering the\nconstruction assistance loan program.\n\nHISTORY: 1986, c. 415; 1999, c. 1012; 2009, c. 351.","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}}