With the prior consent of the Governor, any institution may acquire any project by purchase, gift, or otherwise, erect any project, or refinance the cost of acquiring or erecting any project, and in connection with any such acquisition, erection, or refinancing, any institution may borrow money; make, issue, and sell its bonds as provided in this chapter; and enter into and perform all lawful contracts and agreements, do all lawful acts necessary or proper, and make such lawful contracts and agreements and perform all such lawful acts as may be necessary, proper, or advisable for the purpose of obtaining or securing grants, loans, or financial assistance of any kind under any act of Congress or the Commonwealth.
1933, p. 85, § 23-18; 1946, p. 184; 1966, c. 572; 2016, c. 588.
Structure Code of Virginia
Title 23.1 - Institutions of Higher Education; Other Educational and Cultural Institutions
Chapter 11 - Bonds and Other Obligations
§ 23.1-1101. Powers of institutions vested in majority of members of board; quorum
§ 23.1-1102. Purpose of institutions
§ 23.1-1103. Institutions; powers generally
§ 23.1-1104. Institutions; powers; projects and bonds
§ 23.1-1105. Institutions; powers; borrowing upon endowment and other investments
§ 23.1-1107. Bondholders; remedies and trustees
§ 23.1-1108. Bonds mutilated, lost, or destroyed
§ 23.1-1109. Bonds and revenues; disposition
§ 23.1-1110. Bonds as legal investments
§ 23.1-1111. Bonds; prohibition against obligating Commonwealth
§ 23.1-1113. Bonds; surplus to be paid into state treasury
§ 23.1-1114. Projects; accounts to be kept by boards
§ 23.1-1115. Projects; exemption from taxation
§ 23.1-1116. Commonwealth not to limit revenues of institutions
§ 23.1-1117. Borrowing to purchase real estate
§ 23.1-1118. Discretion of Governor in granting or withholding consent or approval
§ 23.1-1120. Exchange and cancellation of consol coupon bonds of the Commonwealth