23-136 - Institutions receiving interest accruing on proceeds of land scrip.
§ 23-136. Institutions receiving interest accruing on proceeds of land scrip.
The General Assembly having accepted the donation of lands proffered toVirginia by the act of Congress of July 2, 1862; and,
The authorities of the Commonwealth having received the land scrip it wasentitled to under such act of Congress; and,
The Board of Education having, in conformity with the acts of Februaryseventh, and March 19, 1872, made sale of the scrip and invested the proceedsin state bonds, which were directed to be set apart and to constitute aneducation fund:
The annual accruing interest from such fund shall henceforth until otherwiseprovided by law be paid one-third thereof to the Virginia State University,and two-thirds to the board of visitors of the Virginia Polytechnic Instituteand State University.
(Code 1919, § 853; 1920, p. 492; 1979, c. 147.)