                                 CODE OF VIRGINIA

RATINGS OF BONDS ISSUED BY GOVERNMENTAL INSTRUMENTALITIES (§ 2.2-4902)

A. As used in this section, unless the context requires a different meaning:
			&#8220;Bond&#8221; means any bonds, refunding bonds, notes, debentures,
interim certificates, or any bond, grant, revenue anticipation notes or any
other evidences of indebtedness, whether in temporary or definitive form and
whether or not the interest thereon is exempt from federal taxation.
			&#8220;Governmental instrumentality&#8221; means each department,
institution, commission, public corporate instrumentality, or agency of the
Commonwealth, including the Commonwealth itself, and each political subdivision
thereof, including but without limitation each public authority and district and
each county, city or town and each instrumentality thereof which under law has
the power to issue bonds.

B. Notwithstanding any provision contained in any general or special law or in
any charter of any county, city or town of the Commonwealth, any rating of bonds
issued by a governmental instrumentality shall be provided by a bond rating
agency approved by the State Treasurer.

C. In addition to all of his other powers and duties, the State Treasurer shall
prepare a list of approved bond rating agencies and upon request provide a copy
thereof to all governmental instrumentalities.

HISTORY: 1997, c. 381, § 2.1-304.1:1; 2001, c. 844.