Virginia Code 23.1-1119: Payment of interest on bonds of the Commonwealth held by public institutions of higher education and private institutions of higher education
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The Comptroller shall draw upon the state treasury in favor of the proper authorities of any public institution of higher education or private institution of higher education for all accrued interest, upon all obligations of the Commonwealth or the James River and Kanawha Company guaranteed by the Commonwealth that are held by or for such institution. No interest shall be paid upon any such bonds.
Terms Used In Virginia Code 23.1-1119
- Institution: means each public institution of higher education, as that term is defined in § 23. See Virginia Code 23.1-1100
- Private institution of higher education: includes each nonprofit private institution of higher education and proprietary private institution of higher education in the Commonwealth. See Virginia Code 23.1-100
- 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
Code 1919, § 990, § 23-5; 2016, c. 588.