                                 CODE OF VIRGINIA

DEPOSIT AND INVESTMENT OF FUNDS (§ 15.2-6637)

Except as provided by contract with a participating political subdivision, all
moneys received pursuant to the authority of this act, whether as proceeds from
the sale of bonds or as revenues or otherwise, shall be deemed to be trust funds
to be held and applied solely as provided in this act. All moneys of the
Authority shall be deposited as soon as practicable in a separate account or
accounts in one or more banks or trust companies organized under the laws of the
Commonwealth or national banking associations having their principal offices in
the Commonwealth. Such deposits shall be continuously secured in accordance with
the Virginia Security for Public Deposits Act (§ 2.2-4400 et seq.).
		Funds of the Authority not needed for immediate use or disbursement may,
subject to the provisions of any contract between the Authority and the holders
of its bonds, be invested in securities that are considered lawful investments
for fiduciaries.

HISTORY: 2005, c. 842.