Va. Code § 23.1-2207
Payment of interest on debt of University; sinking fund
Virginia · Code of Virginia Title 23.1 — Institutions of Higher Education; Other Educational and Cultural Institutions · Status: effective
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- Va. Code § 23.1-2207, Payment of interest on debt of University; sinking fund, Virginia, version 1 as recorded 2026-09-27, yourstate.us, https://yourstate.us/provision/1409461
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Full text
Out of the appropriation made by the General Assembly for the support of the University, there shall be first set apart, annually, a sum sufficient to pay the interest accruing on the existing interest-bearing debt of the University, except as provided in § 23.1-1109 , and to constitute a sinking fund for the liquidation of the principal of such debt. Such sum shall be applied to no other purpose or object.