{"law_id":"766275","section_number":"62.1-146","catch_line":"Bonds as legal investments","history":"Code 1950, \u00a7 62-106.18; 1954, c. 667; 1968, c. 659.","order_by":null,"metadata":false,"court_decisions":{},"official_url":"http:\/\/law.lis.virginia.gov\/vacode\/62.1-146\/","refers_to":false,"url":"\/62.1-146\/","token":"62.1\/10\/62.1-146","structure":{"1":{"id":"1345","name":"Virginia Port Authority","identifier":"10","label":"chapter","url":"\/62.1\/10\/"},"2":{"id":"222","name":"Waters Of The State, Ports And Harbors","identifier":"62.1","label":"title","url":"\/62.1\/"}},"referred_to_by":false,"edition_id":"11","section_id":"766275","structure_id":"1345","full_text":"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 for which the deposit of bonds or obligations is now or may hereafter be authorized by law.","text":{"0":{"id":"2469594","text":"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 for which the deposit of bonds or obligations is now or may hereafter be authorized by law.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":{"1":{"id":"1345","name":"Virginia Port Authority","identifier":"10","label":"chapter","url":"\/62.1\/10\/"},"2":{"id":"222","name":"Waters Of The State, Ports And Harbors","identifier":"62.1","label":"title","url":"\/62.1\/"}},"structure_contents":{"0":{"id":"796697","structure_id":"1345","section_number":"62.1-128","catch_line":"Authority created","url":"\/62.1-128\/","token":"62.1\/10\/62.1-128"},"1":{"id":"791222","structure_id":"1345","section_number":"62.1-129","catch_line":"(Effective April 1, 2017) Board of Commissioners; members and officers; Executive Director; agents and employees","url":"\/62.1-129\/","token":"62.1\/10\/62.1-129"},"2":{"id":"794038","structure_id":"1345","section_number":"62.1-129","catch_line":"(Effective until April 1, 2017) Board of Commissioners; members and officers; Executive Director; agents and employees","url":"\/62.1-129\/","token":"62.1\/10\/62.1-129"},"3":{"id":"782758","structure_id":"1345","section_number":"62.1-129.1","catch_line":"Employees; employment; personnel rules; health insurance; retirement plans","url":"\/62.1-129.1\/","token":"62.1\/10\/62.1-129.1"},"4":{"id":"779203","structure_id":"1345","section_number":"62.1-129.2","catch_line":"Trust for postemployment benefits authorized; administration","url":"\/62.1-129.2\/","token":"62.1\/10\/62.1-129.2"},"5":{"id":"786038","structure_id":"1345","section_number":"62.1-130","catch_line":"Powers and duties of Executive Director","url":"\/62.1-130\/","token":"62.1\/10\/62.1-130"},"6":{"id":"767601","structure_id":"1345","section_number":"62.1-131","catch_line":"Office and branch offices; title to property","url":"\/62.1-131\/","token":"62.1\/10\/62.1-131"},"7":{"id":"793661","structure_id":"1345","section_number":"62.1-132","catch_line":"Local authorities subordinate to Authority","url":"\/62.1-132\/","token":"62.1\/10\/62.1-132"},"8":{"id":"790720","structure_id":"1345","section_number":"62.1-132.1","catch_line":"General powers","url":"\/62.1-132.1\/","token":"62.1\/10\/62.1-132.1"},"9":{"id":"785269","structure_id":"1345","section_number":"62.1-132.10","catch_line":"Publications of Authority","url":"\/62.1-132.10\/","token":"62.1\/10\/62.1-132.10"},"10":{"id":"785457","structure_id":"1345","section_number":"62.1-132.11","catch_line":"Police powers; penalties","url":"\/62.1-132.11\/","token":"62.1\/10\/62.1-132.11"},"11":{"id":"791788","structure_id":"1345","section_number":"62.1-132.11:1","catch_line":"Prevention and suppression of fire","url":"\/62.1-132.11:1\/","token":"62.1\/10\/62.1-132.11:1"},"12":{"id":"795867","structure_id":"1345","section_number":"62.1-132.11:2","catch_line":"Repealed","url":"\/62.1-132.11:2\/","token":"62.1\/10\/62.1-132.11:2"},"13":{"id":"793935","structure_id":"1345","section_number":"62.1-132.12","catch_line":"Employment, jurisdiction, and power of special police officers","url":"\/62.1-132.12\/","token":"62.1\/10\/62.1-132.12"},"14":{"id":"771020","structure_id":"1345","section_number":"62.1-132.12:1","catch_line":"Agreements with private terminal operators","url":"\/62.1-132.12:1\/","token":"62.1\/10\/62.1-132.12:1"},"15":{"id":"781291","structure_id":"1345","section_number":"62.1-132.13","catch_line":"Cooperation with federal agencies","url":"\/62.1-132.13\/","token":"62.1\/10\/62.1-132.13"},"16":{"id":"785134","structure_id":"1345","section_number":"62.1-132.14","catch_line":"Agreement of local cooperation with Corps of Engineers","url":"\/62.1-132.14\/","token":"62.1\/10\/62.1-132.14"},"17":{"id":"788931","structure_id":"1345","section_number":"62.1-132.15","catch_line":"Grants and loans from federal agencies","url":"\/62.1-132.15\/","token":"62.1\/10\/62.1-132.15"},"18":{"id":"771144","structure_id":"1345","section_number":"62.1-132.16","catch_line":"Fees and charges","url":"\/62.1-132.16\/","token":"62.1\/10\/62.1-132.16"},"19":{"id":"793715","structure_id":"1345","section_number":"62.1-132.17","catch_line":"Grants of funds and property","url":"\/62.1-132.17\/","token":"62.1\/10\/62.1-132.17"},"20":{"id":"775395","structure_id":"1345","section_number":"62.1-132.18","catch_line":"Acquisition of property","url":"\/62.1-132.18\/","token":"62.1\/10\/62.1-132.18"},"21":{"id":"795363","structure_id":"1345","section_number":"62.1-132.19","catch_line":"Acquisition and lease of property","url":"\/62.1-132.19\/","token":"62.1\/10\/62.1-132.19"},"22":{"id":"786005","structure_id":"1345","section_number":"62.1-132.2","catch_line":"Bylaws and organization","url":"\/62.1-132.2\/","token":"62.1\/10\/62.1-132.2"},"23":{"id":"771810","structure_id":"1345","section_number":"62.1-132.20","catch_line":"Craney Island Disposal Area","url":"\/62.1-132.20\/","token":"62.1\/10\/62.1-132.20"},"24":{"id":"788613","structure_id":"1345","section_number":"62.1-132.3","catch_line":"Stimulation of commerce","url":"\/62.1-132.3\/","token":"62.1\/10\/62.1-132.3"},"25":{"id":"766917","structure_id":"1345","section_number":"62.1-132.3:1","catch_line":"Port Opportunity Fund","url":"\/62.1-132.3:1\/","token":"62.1\/10\/62.1-132.3:1"},"26":{"id":"769200","structure_id":"1345","section_number":"62.1-132.3:2","catch_line":"Port of Virginia Economic and Infrastructure Development Grant Fund and Program","url":"\/62.1-132.3:2\/","token":"62.1\/10\/62.1-132.3:2"},"27":{"id":"786843","structure_id":"1345","section_number":"62.1-132.4","catch_line":"Rates and rate structures","url":"\/62.1-132.4\/","token":"62.1\/10\/62.1-132.4"},"28":{"id":"782329","structure_id":"1345","section_number":"62.1-132.5","catch_line":"Planning","url":"\/62.1-132.5\/","token":"62.1\/10\/62.1-132.5"},"29":{"id":"792542","structure_id":"1345","section_number":"62.1-132.6","catch_line":"Powers not restrictive; exemptions from Public Procurement Act and the Virginia Personnel Act","url":"\/62.1-132.6\/","token":"62.1\/10\/62.1-132.6"},"30":{"id":"776501","structure_id":"1345","section_number":"62.1-132.7","catch_line":"Employment of personnel and legal counsel","url":"\/62.1-132.7\/","token":"62.1\/10\/62.1-132.7"},"31":{"id":"792280","structure_id":"1345","section_number":"62.1-132.8","catch_line":"Consolidation of terminal operations","url":"\/62.1-132.8\/","token":"62.1\/10\/62.1-132.8"},"32":{"id":"766914","structure_id":"1345","section_number":"62.1-132.9","catch_line":"Foreign trade zones","url":"\/62.1-132.9\/","token":"62.1\/10\/62.1-132.9"},"33":{"id":"778903","structure_id":"1345","section_number":"62.1-133","catch_line":"Repealed","url":"\/62.1-133\/","token":"62.1\/10\/62.1-133"},"34":{"id":"791529","structure_id":"1345","section_number":"62.1-134.1","catch_line":"Expediting shipment of coal","url":"\/62.1-134.1\/","token":"62.1\/10\/62.1-134.1"},"35":{"id":"795174","structure_id":"1345","section_number":"62.1-135","catch_line":"Repealed","url":"\/62.1-135\/","token":"62.1\/10\/62.1-135"},"36":{"id":"793238","structure_id":"1345","section_number":"62.1-136","catch_line":"Power of eminent domain","url":"\/62.1-136\/","token":"62.1\/10\/62.1-136"},"37":{"id":"795745","structure_id":"1345","section_number":"62.1-137","catch_line":"Repealed","url":"\/62.1-137\/","token":"62.1\/10\/62.1-137"},"38":{"id":"788344","structure_id":"1345","section_number":"62.1-138","catch_line":"Powers of State Corporation Commission not affected","url":"\/62.1-138\/","token":"62.1\/10\/62.1-138"},"39":{"id":"777763","structure_id":"1345","section_number":"62.1-139","catch_line":"Forms of accounts and records; annual report","url":"\/62.1-139\/","token":"62.1\/10\/62.1-139"},"40":{"id":"778490","structure_id":"1345","section_number":"62.1-140","catch_line":"Definitions; bond resolution; form and requisites of bonds; sale and disposition of proceeds; temporary bonds","url":"\/62.1-140\/","token":"62.1\/10\/62.1-140"},"41":{"id":"774528","structure_id":"1345","section_number":"62.1-141","catch_line":"Trust agreement securing bonds; provisions of agreement or bond resolution; depository of proceeds or revenues; expenses","url":"\/62.1-141\/","token":"62.1\/10\/62.1-141"},"42":{"id":"779036","structure_id":"1345","section_number":"62.1-142","catch_line":"Charges for use of port facilities; sinking fund created from revenues for payment of bonds","url":"\/62.1-142\/","token":"62.1\/10\/62.1-142"},"43":{"id":"768355","structure_id":"1345","section_number":"62.1-143","catch_line":"Proceeds of bonds and revenues held in trust for certain purposes","url":"\/62.1-143\/","token":"62.1\/10\/62.1-143"},"44":{"id":"790113","structure_id":"1345","section_number":"62.1-144","catch_line":"Remedies of bondholders and trustee","url":"\/62.1-144\/","token":"62.1\/10\/62.1-144"},"45":{"id":"794852","structure_id":"1345","section_number":"62.1-145","catch_line":"Exercise of powers constitutes governmental functions; exemption from taxation","url":"\/62.1-145\/","token":"62.1\/10\/62.1-145"},"46":{"id":"766275","structure_id":"1345","section_number":"62.1-146","catch_line":"Bonds as legal investments","url":"\/62.1-146\/","token":"62.1\/10\/62.1-146"},"47":{"id":"783563","structure_id":"1345","section_number":"62.1-147","catch_line":"Bonds not debt or pledge of credit of Commonwealth or political subdivision; payment of expenses","url":"\/62.1-147\/","token":"62.1\/10\/62.1-147"},"48":{"id":"788978","structure_id":"1345","section_number":"62.1-147.1","catch_line":"Legalization of prior actions","url":"\/62.1-147.1\/","token":"62.1\/10\/62.1-147.1"},"49":{"id":"771312","structure_id":"1345","section_number":"62.1-147.1:1","catch_line":"Exemption of Authority from certain technology procedures","url":"\/62.1-147.1:1\/","token":"62.1\/10\/62.1-147.1:1"},"50":{"id":"790418","structure_id":"1345","section_number":"62.1-147.2","catch_line":"Chapter liberally construed","url":"\/62.1-147.2\/","token":"62.1\/10\/62.1-147.2"}},"previous_section":{"id":"794852","structure_id":"1345","section_number":"62.1-145","catch_line":"Exercise of powers constitutes governmental functions; exemption from taxation","url":"\/62.1-145\/","token":"62.1\/10\/62.1-145"},"next_section":{"id":"783563","structure_id":"1345","section_number":"62.1-147","catch_line":"Bonds not debt or pledge of credit of Commonwealth or political subdivision; payment of expenses","url":"\/62.1-147\/","token":"62.1\/10\/62.1-147"},"references":[{"id":"778490","section_number":"62.1-140","catch_line":"Definitions; bond resolution; form and requisites of bonds; sale and disposition of proceeds; temporary bonds","url":"\/62.1-140\/"}],"formats":{"txt":"\/62.1-146.txt","json":"\/62.1-146.json","xml":"\/62.1-146.xml"},"dublin_core":{"Title":"Bonds as legal investments","Type":"Text","Format":"text\/html","Identifier":"\u00a7 62.1-146","Relation":"Code of Virginia"},"plain_text":"                                 CODE OF VIRGINIA\n\nBONDS AS LEGAL INVESTMENTS (\u00a7 62.1-146)\n\nBonds issued by the Authority under the provisions of this chapter are hereby\nmade securities in which all public officers and public bodies of the\nCommonwealth and its political subdivisions, all insurance companies, trust\ncompanies, banking associations, investment companies, executors,\nadministrators, trustees and other fiduciaries may properly and legally invest\nfunds, including capital in their control or belonging to them. Such bonds are\nhereby made securities which may properly and legally be deposited with and\nreceived by any state or municipal officer or any agency or political\nsubdivision of the Commonwealth for any purpose for which the deposit of bonds\nor obligations is now or may hereafter be authorized by law.\n\nHISTORY: Code 1950, \u00a7 62-106.18; 1954, c. 667; 1968, c. 659."}