                                 CODE OF VIRGINIA

BORROWING FOR CAPITAL PROJECTS FOR SCHOOL PURPOSES AUTHORIZED (§ 22.1-161.1)

In conformity with Article VII, Section 10 of the Constitution of Virginia, any
school board is hereby authorized to contract to borrow money from the Virginia
Retirement System for capital projects for school purposes, with the approval of
the governing body of each county and city or part thereof constituting the
school division, or of the town if the town constitutes the school division; and
the Board of Trustees of the Virginia Retirement System is hereby authorized to
lend the money if it is available for investment, subject to and in conformity
with the provisions of this chapter.

HISTORY: 1995, c. 250.