22.1-175 - Transfers from Literary Fund to Authority.
§ 22.1-175. Transfers from Literary Fund to Authority.
On January 1 and July 1 of each year or at such other times as requested bythe Authority, there shall be set aside and transferred from the LiteraryFund to the Virginia Public School Authority for public school purposes allnotes bearing fixed maturity dates and representing amounts loaned by theLiterary Fund to local school boards pursuant to Chapter 10 (§ 22.1-142 etseq.) of this title, to be held and administered by the Virginia PublicSchool Authority as provided by law. The Board of Education, the StateTreasurer and the State Comptroller are hereby authorized and directed totake all necessary steps to accomplish such transfer.
(Code 1950, § 22-29.15; 1962, c. 195; 1971, Ex. Sess., cc. 127, 241; 1980, c.559; 1988, c. 259.)