Bonds issued by the Authority under the provisions of this chapter are hereby made securities in which all public officers and public bodies of the Commonwealth and its political subdivisions, all insurance companies, trust companies, banking associations, investment companies, executors, administrators, trustees, and other fiduciaries may properly and legally invest funds, including capital in their control or belonging to them. Such bonds are hereby made securities which may properly and legally be deposited with and received by any state or municipal officer or any agency or political subdivision of the Commonwealth for any purpose authorized by law.

Terms Used In Virginia Code 10.1-1613

  • Authority: means the Virginia Recreational Facilities Authority. See Virginia Code 10.1-1600
  • Bonds: means notes, bonds, certificates and other evidences of indebtedness or obligations of the Authority. See Virginia Code 10.1-1600
  • State: when applied to a part of the United States, includes any of the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the United States Virgin Islands. See Virginia Code 1-245

1986, c. 360, § 10-158.10; 1988, c. 891.

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