<?xml version="1.0"?>
<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>71258</law_id><section_number>2.2-4505</section_number><catch_line>Investment in certificates representing ownership of treasury bond principal at maturity or its coupons for accrued periods</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="2.2">Administration of Government</unit><unit label="subtitle" level="2" order_by="1" identifier="II">Administration of State Government</unit><unit label="part" level="3" order_by="1" identifier="B">Transaction of Public Business</unit><unit label="chapter" level="4" order_by="1" identifier="45">Investment of Public Funds Act</unit></structure><text>
						<section><p>Notwithstanding any provision of <span class="dictionary">law</span> to the contrary, the Commonwealth, all public officers, municipal corporations, other political subdivisions and all other public bodies of the Commonwealth may invest any and all moneys belonging to them or within their control, in certificates representing ownership of either treasury <span class="dictionary">bond</span> principal at maturity or its coupons for accrued periods. The underlying United States Treasury <span class="dictionary">bonds</span> or coupons shall be held by a third-<span class="dictionary">party</span> independent of the seller of such certificates.</p></section></text><history>1983, c. 117, &#xA7; 2.1-328.5; 1985, c. 352; 1988, c. 834; 2001, c. 844.</history><metadata></metadata></law>
