                                 CODE OF VIRGINIA

INVESTMENT IN CERTIFICATES REPRESENTING OWNERSHIP OF TREASURY BOND PRINCIPAL AT
MATURITY OR ITS COUPONS FOR ACCRUED PERIODS (§ 2.2-4505)

Notwithstanding any provision of law 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 bond principal at maturity or its coupons for accrued periods.
The underlying United States Treasury bonds or coupons shall be held by a
third-party independent of the seller of such certificates.

HISTORY: 1983, c. 117, § 2.1-328.5; 1985, c. 352; 1988, c. 834; 2001, c. 844.