                                 CODE OF VIRGINIA

MONEYS OF AUTHORITY; AUDIT (§ 2.2-2272)

All moneys of the Authority, from whatever source derived, shall be paid to the
treasurer of the Authority. Such moneys shall be deposited in the first instance
by the treasurer in one or more banks or trust companies, in one or more special
accounts, and each of such special accounts shall be continuously secured by a
pledge of direct obligations of the United States or of the Commonwealth, having
an aggregate market value, exclusive of accrued interest, at all times at least
equal to the balance on deposit in such account. Such securities shall either be
deposited with the treasurer or be held by a trustee or agent satisfactory to
the Authority. All banks and trust companies are authorized to give such
security for such deposits. The moneys in such accounts shall be paid out on the
warrant or other order of the treasurer of the Authority, or of such other
persons as the Authority may authorize to execute such warrants or orders.
		The Auditor of Public Accounts or his legally authorized representatives may
examine the accounts and books of the Authority, including its receipts,
disbursements, contracts, leases, sinking funds, investments, and any other
matters relating to its finances, operation and affairs.

HISTORY: 1981, c. 569, § 2.1-234.26; 2001, c. 844.