                                 CODE OF VIRGINIA

CREATION AND MANAGEMENT OF FUND (§ 15.2-2431)

There shall be set apart a permanent and perpetual fund, to be known as the
Virginia Infrastructure Project Loan Fund, consisting of such sums that may be
appropriated to the Fund by the General Assembly, all receipts by the Fund from
loans made by it to local governments, 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. The Authority shall establish
guidelines regarding the distribution of loans from the Fund and prioritization
of such loans, and shall establish interest rates and repayment terms of such
loans as provided in this chapter. The Authority may disperse from the Fund its
reasonable costs and expenses incurred in the administration and management of
the Fund.

HISTORY: 2010, c. 724.