The bonds issued pursuant to this chapter shall be and are hereby declared to be legal and authorized investments for banks, savings banks, trust companies, building and loan associations, insurance companies, fiduciaries, trustees, guardians and for all public funds of the Commonwealth or other political corporations or subdivisions of the Commonwealth. Such bonds shall be eligible to secure the deposit of public funds of the Commonwealth, localities, school districts or other political corporations or subdivisions of the Commonwealth, and shall be security for such deposits to the extent of their value when accompanied by all unmatured coupons appertaining thereto.
1966, c. 651, § 15.1-1386; 1997, c. 587.
Structure Code of Virginia
Title 15.2 - Counties, Cities and Towns
Chapter 49 - Industrial Development and Revenue Bond Act
§ 15.2-4901. Purpose of chapter
§ 15.2-4903. Creation of industrial development authorities
§ 15.2-4905. Powers of authority
§ 15.2-4906. Public hearing and approval
§ 15.2-4907. Fiscal impact statement
§ 15.2-4908. Issuance of bonds, notes and other obligations of authority
§ 15.2-4909. Liability of Commonwealth, political subdivisions, directors and officers
§ 15.2-4910. Security for payment of bonds; default
§ 15.2-4911. Rents, fees and other charges
§ 15.2-4912. Exemption from taxation
§ 15.2-4913. Authority to be nonprofit; excess earnings
§ 15.2-4914. Dissolution of authority; disposition of property
§ 15.2-4915. Bonds as legal investments and lawful security
§ 15.2-4916. Authorities acting jointly
§ 15.2-4918. Provisions of chapter cumulative; construction
§ 15.2-4919. Provisions of chapter controlling over other statutes and charters