{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/53.1-95.11.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/53.1-95.11.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/53.1-95.11.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/53.1-95.11.html"}],"law_id":367860,"edition_id":2,"section_id":367860,"structure_id":52435,"section_number":"53.1-95.11","catch_line":"Trust agreements","history":"1990, c. 837.","full_text":"In the discretion of an authority created pursuant to this article, any bonds issued under the provisions of this article may be secured by a trust agreement by and between the authority and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the Commonwealth. Such trust agreement or the resolution providing for the issuance of such bonds may pledge or assign the charges and other revenues to be received, but shall not convey or mortgage the project or any part thereof. Such trust agreement or resolution providing for the issuance of such bonds may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including covenants setting forth the duties of the authority in relation to the acquisition of property and the construction, improvement, maintenance, repair, operation, and insurance of the project, the rates to be charged for services, and the custody, safeguarding, and application of all moneys. It shall be lawful for any bank or trust company incorporated under the laws of the Commonwealth which may act as depository of the proceeds of bonds or of revenues to furnish such indemnifying bonds or to pledge such securities as may be required by the authority. Any such trust agreement may set forth the rights and remedies of the bondholders and of the trustee, and may restrict the individual right of action by bondholders. In addition to the foregoing, any such trust agreement or resolution may contain such other provisions as the authority may deem reasonable and proper for the security of the bondholders. All expenses incurred in carrying out the provisions of such trust agreement or resolution may be treated as a part of the cost of the operation of the project.\n\n","order_by":null,"text":{"0":{"id":1369208,"text":"In the discretion of an authority created pursuant to this article, any bonds issued under the provisions of this article may be secured by a trust agreement by and between the authority and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the Commonwealth. Such trust agreement or the resolution providing for the issuance of such bonds may pledge or assign the charges and other revenues to be received, but shall not convey or mortgage the project or any part thereof. Such trust agreement or resolution providing for the issuance of such bonds may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including covenants setting forth the duties of the authority in relation to the acquisition of property and the construction, improvement, maintenance, repair, operation, and insurance of the project, the rates to be charged for services, and the custody, safeguarding, and application of all moneys. It shall be lawful for any bank or trust company incorporated under the laws of the Commonwealth which may act as depository of the proceeds of bonds or of revenues to furnish such indemnifying bonds or to pledge such securities as may be required by the authority. Any such trust agreement may set forth the rights and remedies of the bondholders and of the trustee, and may restrict the individual right of action by bondholders. In addition to the foregoing, any such trust agreement or resolution may contain such other provisions as the authority may deem reasonable and proper for the security of the bondholders. All expenses incurred in carrying out the provisions of such trust agreement or resolution may be treated as a part of the cost of the operation of the project.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":52435,"edition_id":2,"name":"Jail Authorities","identifier":"3.1","label":"article","depth":3,"order_by":5,"parent_id":52383,"metadata":{"child_laws":24,"child_structures":0},"date_created":"2026-08-02 02:58:49","date_modified":"2026-08-02 12:34:47","permalink":{"id":1465465,"object_type":"structure","relational_id":52435,"identifier":"3.1","token":"53.1\/3\/3.1","url":"\/53.1\/3\/3.1\/","edition_id":2,"permalink":0,"preferred":1}},{"id":52383,"edition_id":2,"name":"Local Correctional Facilities","identifier":"3","label":"chapter","depth":2,"order_by":3,"parent_id":52379,"metadata":{"child_laws":146,"child_structures":11},"date_created":"2026-08-02 02:58:09","date_modified":"2026-08-02 12:34:46","permalink":{"id":1465283,"object_type":"structure","relational_id":52383,"identifier":"3","token":"53.1\/3","url":"\/53.1\/3\/","edition_id":2,"permalink":0,"preferred":1}},{"id":52379,"edition_id":2,"name":"Prisons and Other Methods of Correction","identifier":"53.1","label":"title","depth":1,"order_by":117,"parent_id":null,"metadata":{"child_laws":402,"child_structures":56},"date_created":"2026-08-02 02:58:08","date_modified":"2026-08-02 12:34:44","permalink":{"id":1464593,"object_type":"structure","relational_id":52379,"identifier":"53.1","token":"53.1","url":"\/53.1\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":367859,"structure_id":52435,"section_number":"53.1-95.10","catch_line":"Issuance of revenue bonds","url":"\/53.1-95.10\/","token":"53.1\/3\/3.1\/53.1-95.10","metadata":false},{"id":367860,"structure_id":52435,"section_number":"53.1-95.11","catch_line":"Trust agreements","url":"\/53.1-95.11\/","token":"53.1\/3\/3.1\/53.1-95.11","metadata":false},{"id":367861,"structure_id":52435,"section_number":"53.1-95.12","catch_line":"Charge for use of services","url":"\/53.1-95.12\/","token":"53.1\/3\/3.1\/53.1-95.12","metadata":false},{"id":367862,"structure_id":52435,"section_number":"53.1-95.13","catch_line":"Revenues and proceeds from sale of bonds","url":"\/53.1-95.13\/","token":"53.1\/3\/3.1\/53.1-95.13","metadata":false},{"id":367863,"structure_id":52435,"section_number":"53.1-95.14","catch_line":"Rights of bond holders and trustees","url":"\/53.1-95.14\/","token":"53.1\/3\/3.1\/53.1-95.14","metadata":false},{"id":367864,"structure_id":52435,"section_number":"53.1-95.15","catch_line":"Exemption from taxes","url":"\/53.1-95.15\/","token":"53.1\/3\/3.1\/53.1-95.15","metadata":false},{"id":367865,"structure_id":52435,"section_number":"53.1-95.16","catch_line":"Issuance of revenue refunding bonds","url":"\/53.1-95.16\/","token":"53.1\/3\/3.1\/53.1-95.16","metadata":false},{"id":367866,"structure_id":52435,"section_number":"53.1-95.17","catch_line":"General purpose of an authority","url":"\/53.1-95.17\/","token":"53.1\/3\/3.1\/53.1-95.17","metadata":false},{"id":367867,"structure_id":52435,"section_number":"53.1-95.18","catch_line":"Design-build contracts","url":"\/53.1-95.18\/","token":"53.1\/3\/3.1\/53.1-95.18","metadata":false},{"id":367868,"structure_id":52435,"section_number":"53.1-95.19","catch_line":"State reimbursement","url":"\/53.1-95.19\/","token":"53.1\/3\/3.1\/53.1-95.19","metadata":false},{"id":367869,"structure_id":52435,"section_number":"53.1-95.2","catch_line":"Jail authority","url":"\/53.1-95.2\/","token":"53.1\/3\/3.1\/53.1-95.2","metadata":false},{"id":367870,"structure_id":52435,"section_number":"53.1-95.20","catch_line":"Duty to prescribe rules and regulations","url":"\/53.1-95.20\/","token":"53.1\/3\/3.1\/53.1-95.20","metadata":false},{"id":367871,"structure_id":52435,"section_number":"53.1-95.21","catch_line":"Supplemental and additional powers","url":"\/53.1-95.21\/","token":"53.1\/3\/3.1\/53.1-95.21","metadata":false},{"id":367872,"structure_id":52435,"section_number":"53.1-95.22","catch_line":"Liberal construction","url":"\/53.1-95.22\/","token":"53.1\/3\/3.1\/53.1-95.22","metadata":false},{"id":367873,"structure_id":52435,"section_number":"53.1-95.23","catch_line":"Repealed","url":"\/53.1-95.23\/","token":"53.1\/3\/3.1\/53.1-95.23","metadata":false},{"id":367874,"structure_id":52435,"section_number":"53.1-95.24","catch_line":"Inconsistent laws inapplicable","url":"\/53.1-95.24\/","token":"53.1\/3\/3.1\/53.1-95.24","metadata":false},{"id":367875,"structure_id":52435,"section_number":"53.1-95.3","catch_line":"Definitions","url":"\/53.1-95.3\/","token":"53.1\/3\/3.1\/53.1-95.3","metadata":false},{"id":367876,"structure_id":52435,"section_number":"53.1-95.4","catch_line":"Ordinance, agreement or resolution creating authority","url":"\/53.1-95.4\/","token":"53.1\/3\/3.1\/53.1-95.4","metadata":false},{"id":367877,"structure_id":52435,"section_number":"53.1-95.5","catch_line":"Joinder of new subdivision; withdrawal from authority","url":"\/53.1-95.5\/","token":"53.1\/3\/3.1\/53.1-95.5","metadata":false},{"id":367878,"structure_id":52435,"section_number":"53.1-95.6","catch_line":"Governing body","url":"\/53.1-95.6\/","token":"53.1\/3\/3.1\/53.1-95.6","metadata":{"court_decisions":""}},{"id":367879,"structure_id":52435,"section_number":"53.1-95.7","catch_line":"Powers of authority","url":"\/53.1-95.7\/","token":"53.1\/3\/3.1\/53.1-95.7","metadata":false},{"id":367880,"structure_id":52435,"section_number":"53.1-95.8","catch_line":"Authority of superintendent and jail officers; oath and bond; fees charged to prisoner","url":"\/53.1-95.8\/","token":"53.1\/3\/3.1\/53.1-95.8","metadata":false},{"id":367881,"structure_id":52435,"section_number":"53.1-95.8:1","catch_line":"Handling of funds for regional correctional facility; county or city treasurer or director of finance as fiscal agent","url":"\/53.1-95.8_1\/","token":"53.1\/3\/3.1\/53.1-95.8_1","metadata":false},{"id":367882,"structure_id":52435,"section_number":"53.1-95.9","catch_line":"Acquisition of interests in land","url":"\/53.1-95.9\/","token":"53.1\/3\/3.1\/53.1-95.9","metadata":false}],"previous_section":{"id":367859,"structure_id":52435,"section_number":"53.1-95.10","catch_line":"Issuance of revenue bonds","url":"\/53.1-95.10\/","token":"53.1\/3\/3.1\/53.1-95.10","metadata":false},"next_section":{"id":367861,"structure_id":52435,"section_number":"53.1-95.12","catch_line":"Charge for use of services","url":"\/53.1-95.12\/","token":"53.1\/3\/3.1\/53.1-95.12","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/53.1-95.11\/","history_text":"<p>This law was first created in 1990. The record of its establishment is cataloged in chapter 837 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. Unfortunately, the 1990 \u201cActs\u201d aren\u2019t available online.<\/p>","references":false,"refers_to":false,"permalink":{"id":1465471,"object_type":"law","relational_id":367860,"identifier":"53.1-95.11","token":"53.1\/3\/3.1\/53.1-95.11","url":"\/53.1-95.11\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/53.1-95.11\/","token":"53.1\/3\/3.1\/53.1-95.11","dublin_core":{"Title":"Trust agreements","Type":"Text","Format":"text\/html","Identifier":"\u00a7 53.1-95.11","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>In the discretion of an authority created pursuant to this article, any <span class=\"dictionary\">bonds<\/span> issued under the provisions of this article may be secured by a trust agreement by and between the authority and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the Commonwealth. Such trust agreement or the resolution providing for the issuance of such <span class=\"dictionary\">bonds<\/span> may pledge or assign the charges and other revenues to be received, but shall not convey or mortgage the project or any part thereof. Such trust agreement or resolution providing for the issuance of such <span class=\"dictionary\">bonds<\/span> may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of <span class=\"dictionary\">law<\/span>, including covenants setting forth the duties of the authority in relation to the acquisition of property and the construction, improvement, maintenance, repair, operation, and insurance of the project, the rates to be charged for services, and the <span class=\"dictionary\">custody<\/span>, safeguarding, and application of all moneys. It shall be lawful for any bank or trust company incorporated under the <span class=\"dictionary\">laws<\/span> of the Commonwealth which may act as depository of the proceeds of <span class=\"dictionary\">bonds<\/span> or of revenues to furnish such indemnifying <span class=\"dictionary\">bonds<\/span> or to pledge such securities as may be required by the authority. Any such trust agreement may set forth the rights and remedies of the bondholders and of the trustee, and may restrict the individual right of action by bondholders. In addition to the foregoing, any such trust agreement or resolution may contain such other provisions as the authority may deem reasonable and proper for the security of the bondholders. All expenses incurred in carrying out the provisions of such trust agreement or resolution may be treated as a part of the cost of the operation of the project.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nTRUST AGREEMENTS (\u00a7 53.1-95.11)\n\nIn the discretion of an authority created pursuant to this article, any bonds\nissued under the provisions of this article may be secured by a trust agreement\nby and between the authority and a corporate trustee, which may be any trust\ncompany or bank having the powers of a trust company within or without the\nCommonwealth. Such trust agreement or the resolution providing for the issuance\nof such bonds may pledge or assign the charges and other revenues to be\nreceived, but shall not convey or mortgage the project or any part thereof. Such\ntrust agreement or resolution providing for the issuance of such bonds may\ncontain such provisions for protecting and enforcing the rights and remedies of\nthe bondholders as may be reasonable and proper and not in violation of law,\nincluding covenants setting forth the duties of the authority in relation to the\nacquisition of property and the construction, improvement, maintenance, repair,\noperation, and insurance of the project, the rates to be charged for services,\nand the custody, safeguarding, and application of all moneys. It shall be lawful\nfor any bank or trust company incorporated under the laws of the Commonwealth\nwhich may act as depository of the proceeds of bonds or of revenues to furnish\nsuch indemnifying bonds or to pledge such securities as may be required by the\nauthority. Any such trust agreement may set forth the rights and remedies of the\nbondholders and of the trustee, and may restrict the individual right of action\nby bondholders. In addition to the foregoing, any such trust agreement or\nresolution may contain such other provisions as the authority may deem\nreasonable and proper for the security of the bondholders. All expenses incurred\nin carrying out the provisions of such trust agreement or resolution may be\ntreated as a part of the cost of the operation of the project.\n\nHISTORY: 1990, c. 837.","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"}}