§ 45.1-161.321

Expense of acquiring and operating coal properties; funds derived from operation

The expense of acquiring and operating any property or properties acquired under this chapter shall be paid out of moneys transferred from the general fund of the Commonwealth not otherwise appropriated upon such authorizations as the Governor may prescribe and shall be credited to the account of the Commission, and all funds and revenues derived from or received as a result of said operations shall be paid into the state treasury and credited to the same account. Any amounts transferred upon authorization of the Governor from the general fund of the Commonwealth shall be known and designated as the “Capital Account” of the Commission, which amount, or residue thereof, together with any surplus that may accrue, shall be returned to the general fund of the Commonwealth in the event of liquidation or, in the absence of liquidation, in such installments and at such times as the Governor may prescribe.


Code 1950, § 45-152; 1950, p. 32; 1966, c. 594, § 45.1-152; 1994, c. 28.


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