{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/22.1-161.8.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/22.1-161.8.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/22.1-161.8.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/22.1-161.8.html"}],"law_id":354281,"edition_id":2,"section_id":354281,"structure_id":50698,"section_number":"22.1-161.8","catch_line":"Bonds deemed negotiable instruments; sale of bonds by Trustees of Retirement System; bonds made legal investments","history":"1995, c. 250.","full_text":"Bonds issued under the provisions of this chapter and purchased by the Board of Trustees of the Virginia Retirement System shall be deemed negotiable instruments under the laws of this Commonwealth. The Board of Trustees may, in its discretion, sell any such bonds so purchased and held by it at such time or times as to it may seem desirable in the management of the funds under its control; and such bonds are hereby made securities in which all public officers and bodies of this Commonwealth, and all counties, cities and towns and municipal subdivisions, all insurance companies and associations, all savings banks and savings institutions, including savings and loan associations, trust companies, beneficial and benevolent associations, administrators, guardians, executors, trustees and other fiduciaries in this Commonwealth may properly and legally invest funds under their control.\n\n","order_by":null,"text":{"0":{"id":1318894,"text":"Bonds issued under the provisions of this chapter and purchased by the Board of Trustees of the Virginia Retirement System shall be deemed negotiable instruments under the laws of this Commonwealth. The Board of Trustees may, in its discretion, sell any such bonds so purchased and held by it at such time or times as to it may seem desirable in the management of the funds under its control; and such bonds are hereby made securities in which all public officers and bodies of this Commonwealth, and all counties, cities and towns and municipal subdivisions, all insurance companies and associations, all savings banks and savings institutions, including savings and loan associations, trust companies, beneficial and benevolent associations, administrators, guardians, executors, trustees and other fiduciaries in this Commonwealth may properly and legally invest funds under their control.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":50698,"edition_id":2,"name":"Borrowing by School Boards From Virginia Retirement System","identifier":"10.1","label":"chapter","depth":2,"order_by":12,"parent_id":50682,"metadata":{"child_laws":8,"child_structures":0},"date_created":"2026-08-02 02:31:37","date_modified":"2026-08-02 12:31:02","permalink":{"id":1408109,"object_type":"structure","relational_id":50698,"identifier":"10.1","token":"22.1\/10.1","url":"\/22.1\/10.1\/","edition_id":2,"permalink":0,"preferred":1}},{"id":50682,"edition_id":2,"name":"Education","identifier":"22.1","label":"title","depth":1,"order_by":60,"parent_id":null,"metadata":{"child_laws":858,"child_structures":99},"date_created":"2026-08-02 02:31:28","date_modified":"2026-08-02 12:30:57","permalink":{"id":1407951,"object_type":"structure","relational_id":50682,"identifier":"22.1","token":"22.1","url":"\/22.1\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":354274,"structure_id":50698,"section_number":"22.1-161.1","catch_line":"Borrowing for capital projects for school purposes authorized","url":"\/22.1-161.1\/","token":"22.1\/10.1\/22.1-161.1","metadata":false},{"id":354275,"structure_id":50698,"section_number":"22.1-161.2","catch_line":"Resolution by school board; approval or rejection by governing body; indebtedness evidenced by bonds","url":"\/22.1-161.2\/","token":"22.1\/10.1\/22.1-161.2","metadata":false},{"id":354276,"structure_id":50698,"section_number":"22.1-161.3","catch_line":"Issuance of bonds; procedure; form and requirements","url":"\/22.1-161.3\/","token":"22.1\/10.1\/22.1-161.3","metadata":false},{"id":354277,"structure_id":50698,"section_number":"22.1-161.4","catch_line":"Disposition of proceeds from sale of bonds; separate fund","url":"\/22.1-161.4\/","token":"22.1\/10.1\/22.1-161.4","metadata":false},{"id":354278,"structure_id":50698,"section_number":"22.1-161.5","catch_line":"Investment of proceeds pending application to authorized purpose","url":"\/22.1-161.5\/","token":"22.1\/10.1\/22.1-161.5","metadata":false},{"id":354279,"structure_id":50698,"section_number":"22.1-161.6","catch_line":"Repealed","url":"\/22.1-161.6\/","token":"22.1\/10.1\/22.1-161.6","metadata":false},{"id":354280,"structure_id":50698,"section_number":"22.1-161.7","catch_line":"Tax to pay principal and interest on bonds","url":"\/22.1-161.7\/","token":"22.1\/10.1\/22.1-161.7","metadata":false},{"id":354281,"structure_id":50698,"section_number":"22.1-161.8","catch_line":"Bonds deemed negotiable instruments; sale of bonds by Trustees of Retirement System; bonds made legal investments","url":"\/22.1-161.8\/","token":"22.1\/10.1\/22.1-161.8","metadata":false}],"previous_section":{"id":354280,"structure_id":50698,"section_number":"22.1-161.7","catch_line":"Tax to pay principal and interest on bonds","url":"\/22.1-161.7\/","token":"22.1\/10.1\/22.1-161.7","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/22.1-161.8\/","history_text":"

This law was first created in 1995. The record of its establishment is cataloged in chapter 250<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":false,"permalink":{"id":1408139,"object_type":"law","relational_id":354281,"identifier":"22.1-161.8","token":"22.1\/10.1\/22.1-161.8","url":"\/22.1-161.8\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/22.1-161.8\/","token":"22.1\/10.1\/22.1-161.8","dublin_core":{"Title":"Bonds deemed negotiable instruments; sale of bonds by Trustees of Retirement System; bonds made legal investments","Type":"Text","Format":"text\/html","Identifier":"\u00a7 22.1-161.8","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Bonds<\/span> issued under the provisions of this chapter and purchased by the Board<\/span> of Trustees of the Virginia Retirement System shall be deemed negotiable instruments under the laws<\/span> of this Commonwealth. The Board<\/span> of Trustees may, in its discretion, sell any such bonds<\/span> so purchased and held by it at such time or times as to it may seem desirable in the management of the funds under its control; and such bonds<\/span> are hereby made securities in which all public officers and bodies of this Commonwealth, and all counties, cities and towns and municipal subdivisions, all insurance companies and associations, all savings banks and savings institutions, including savings and loan associations, trust companies, beneficial and benevolent associations, administrators, guardians, executors, trustees and other fiduciaries in this Commonwealth may properly and legally invest funds under their control.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nBONDS DEEMED NEGOTIABLE INSTRUMENTS; SALE OF BONDS BY TRUSTEES OF RETIREMENT\nSYSTEM; BONDS MADE LEGAL INVESTMENTS (\u00a7 22.1-161.8)\n\nBonds issued under the provisions of this chapter and purchased by the Board of\nTrustees of the Virginia Retirement System shall be deemed negotiable\ninstruments under the laws of this Commonwealth. The Board of Trustees may, in\nits discretion, sell any such bonds so purchased and held by it at such time or\ntimes as to it may seem desirable in the management of the funds under its\ncontrol; and such bonds are hereby made securities in which all public officers\nand bodies of this Commonwealth, and all counties, cities and towns and\nmunicipal subdivisions, all insurance companies and associations, all savings\nbanks and savings institutions, including savings and loan associations, trust\ncompanies, beneficial and benevolent associations, administrators, guardians,\nexecutors, trustees and other fiduciaries in this Commonwealth may properly and\nlegally invest funds under their control.\n\nHISTORY: 1995, c. 250.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}