{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/22.1-153.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/22.1-153.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/22.1-153.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/22.1-153.html"}],"law_id":354260,"edition_id":2,"section_id":354260,"structure_id":50697,"section_number":"22.1-153","catch_line":"School boards authorized to borrow from Fund; form of application","history":"Code 1950, \u00a7 22-107; 1980, c. 559; 2007, c. 121; 2018, c. 591.","full_text":"The school boards of the several school divisions are authorized to borrow money belonging to the Literary Fund, and any school board desiring to borrow from the Fund shall make written application to the Board of Education for such loan on a form to be prescribed by the Board. In the case of a regional or joint school, the school boards of the school divisions participating in such school may jointly apply to borrow money for the benefit of the regional or joint school.\n\nThe Board shall not disburse any proceeds of any approved loan prior to its receipt of the concurrent approval of the governing body at the time of initial disbursement and an acceptable opinion of bond counsel obtained by the governing body as to the validity of the loan.\n\n","order_by":null,"text":{"0":{"id":1318865,"text":"The school boards of the several school divisions are authorized to borrow money belonging to the Literary Fund, and any school board desiring to borrow from the Fund shall make written application to the Board of Education for such loan on a form to be prescribed by the Board. In the case of a regional or joint school, the school boards of the school divisions participating in such school may jointly apply to borrow money for the benefit of the regional or joint school.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":""},"1":{"id":1318866,"text":"The Board shall not disburse any proceeds of any approved loan prior to its receipt of the concurrent approval of the governing body at the time of initial disbursement and an acceptable opinion of bond counsel obtained by the governing body as to the validity of the loan.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"prior_prefix":""}},"ancestry":[{"id":50697,"edition_id":2,"name":"Literary Fund","identifier":"10","label":"chapter","depth":2,"order_by":10,"parent_id":50682,"metadata":{"child_laws":18,"child_structures":0},"date_created":"2026-08-02 02:31:35","date_modified":"2026-08-02 12:31:02","permalink":{"id":1408035,"object_type":"structure","relational_id":50697,"identifier":"10","token":"22.1\/10","url":"\/22.1\/10\/","edition_id":2,"permalink":0,"preferred":1}},{"id":50682,"edition_id":2,"name":"Education","identifier":"22.1","label":"title","depth":1,"order_by":60,"parent_id":null,"metadata":{"child_laws":858,"child_structures":99},"date_created":"2026-08-02 02:31:28","date_modified":"2026-08-02 12:30:57","permalink":{"id":1407951,"object_type":"structure","relational_id":50682,"identifier":"22.1","token":"22.1","url":"\/22.1\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":354247,"structure_id":50697,"section_number":"22.1-142","catch_line":"How Fund constituted; management","url":"\/22.1-142\/","token":"22.1\/10\/22.1-142","metadata":false},{"id":354248,"structure_id":50697,"section_number":"22.1-143","catch_line":"Money belonging to Fund received in treasury; accountant","url":"\/22.1-143\/","token":"22.1\/10\/22.1-143","metadata":false},{"id":354249,"structure_id":50697,"section_number":"22.1-144","catch_line":"Recovery of moneys due Fund","url":"\/22.1-144\/","token":"22.1\/10\/22.1-144","metadata":false},{"id":354250,"structure_id":50697,"section_number":"22.1-145","catch_line":"Investment of Fund","url":"\/22.1-145\/","token":"22.1\/10\/22.1-145","metadata":false},{"id":354252,"structure_id":50697,"section_number":"22.1-146","catch_line":"Power of Board to make loans from fund for erection, etc., of school buildings and fueling facilities for school buses","url":"\/22.1-146\/","token":"22.1\/10\/22.1-146","metadata":false},{"id":354251,"structure_id":50697,"section_number":"22.1-146.1","catch_line":"School modernization loan interest rate subsidy payments","url":"\/22.1-146.1\/","token":"22.1\/10\/22.1-146.1","metadata":false},{"id":354253,"structure_id":50697,"section_number":"22.1-147","catch_line":"Application for and distribution of funds","url":"\/22.1-147\/","token":"22.1\/10\/22.1-147","metadata":false},{"id":354254,"structure_id":50697,"section_number":"22.1-148","catch_line":"Restrictions upon making loans; retirement of previous loans; waiting lists","url":"\/22.1-148\/","token":"22.1\/10\/22.1-148","metadata":false},{"id":354255,"structure_id":50697,"section_number":"22.1-149","catch_line":"Additional funds for loans","url":"\/22.1-149\/","token":"22.1\/10\/22.1-149","metadata":false},{"id":354257,"structure_id":50697,"section_number":"22.1-150","catch_line":"Rate of interest","url":"\/22.1-150\/","token":"22.1\/10\/22.1-150","metadata":false},{"id":354258,"structure_id":50697,"section_number":"22.1-151","catch_line":"Evidence of loan","url":"\/22.1-151\/","token":"22.1\/10\/22.1-151","metadata":false},{"id":354259,"structure_id":50697,"section_number":"22.1-152","catch_line":"Payment of principal and interest","url":"\/22.1-152\/","token":"22.1\/10\/22.1-152","metadata":false},{"id":354260,"structure_id":50697,"section_number":"22.1-153","catch_line":"School boards authorized to borrow from Fund; form of application","url":"\/22.1-153\/","token":"22.1\/10\/22.1-153","metadata":false},{"id":354261,"structure_id":50697,"section_number":"22.1-154","catch_line":"Repealed","url":"\/22.1-154\/","token":"22.1\/10\/22.1-154","metadata":false},{"id":354262,"structure_id":50697,"section_number":"22.1-158","catch_line":"Provisions for payment","url":"\/22.1-158\/","token":"22.1\/10\/22.1-158","metadata":false},{"id":354263,"structure_id":50697,"section_number":"22.1-159","catch_line":"Loans for construction of school facilities to serve portions of counties; levy of taxes for purpose of repaying such loans","url":"\/22.1-159\/","token":"22.1\/10\/22.1-159","metadata":false},{"id":354273,"structure_id":50697,"section_number":"22.1-160","catch_line":"School boards authorized to anticipate payment of loans","url":"\/22.1-160\/","token":"22.1\/10\/22.1-160","metadata":false},{"id":354282,"structure_id":50697,"section_number":"22.1-161","catch_line":"Loan declared indebtedness of the county, city or town; lien on locality's funds created","url":"\/22.1-161\/","token":"22.1\/10\/22.1-161","metadata":false}],"previous_section":{"id":354259,"structure_id":50697,"section_number":"22.1-152","catch_line":"Payment of principal and interest","url":"\/22.1-152\/","token":"22.1\/10\/22.1-152","metadata":false},"next_section":{"id":354261,"structure_id":50697,"section_number":"22.1-154","catch_line":"Repealed","url":"\/22.1-154\/","token":"22.1\/10\/22.1-154","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/22.1-153\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 3 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1980, chapter 559; in 2007, chapter 121<\/a>; in 2018, chapter 591<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":1408085,"object_type":"law","relational_id":354260,"identifier":"22.1-153","token":"22.1\/10\/22.1-153","url":"\/22.1-153\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/22.1-153\/","token":"22.1\/10\/22.1-153","dublin_core":{"Title":"School boards authorized to borrow from Fund; form of application","Type":"Text","Format":"text\/html","Identifier":"\u00a7 22.1-153","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The school boards<\/span> of the several school divisions are authorized to borrow money belonging to the Literary Fund, and any school board<\/span> desiring to borrow from the Fund shall make written application to the Board of Education for such loan on a form to be prescribed by the Board. In the case of a regional or joint school, the school boards<\/span> of the school divisions participating in such school may jointly apply to borrow money for the benefit of the regional or joint school.<\/p>

The Board shall not disburse any proceeds of any approved loan prior to its receipt of the concurrent approval of the governing body<\/span> at the time of initial disbursement and an acceptable opinion<\/span> of bond<\/span> counsel<\/span> obtained by the governing body<\/span> as to the validity of the loan.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSCHOOL BOARDS AUTHORIZED TO BORROW FROM FUND; FORM OF APPLICATION (\u00a7 22.1-153)\n\nThe school boards of the several school divisions are authorized to borrow money\nbelonging to the Literary Fund, and any school board desiring to borrow from the\nFund shall make written application to the Board of Education for such loan on a\nform to be prescribed by the Board. In the case of a regional or joint school,\nthe school boards of the school divisions participating in such school may\njointly apply to borrow money for the benefit of the regional or joint school.\n\nThe Board shall not disburse any proceeds of any approved loan prior to its\nreceipt of the concurrent approval of the governing body at the time of initial\ndisbursement and an acceptable opinion of bond counsel obtained by the governing\nbody as to the validity of the loan.\n\nHISTORY: Code 1950, \u00a7 22-107; 1980, c. 559; 2007, c. 121; 2018, c. 591.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}