Va. Code § 23.1-2207

Current with changes from the 2024 legislative session through ch. 845

Section 23.1-2207 - Payment of interest on debt of University; sinking fund

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.

Code 1919, § 820, § 23-67; 2016, c. 588.

Added by Acts 2016 c. 588, § 1, eff. 10/1/2016.