{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/5.1-165.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/5.1-165.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/5.1-165.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/5.1-165.html"}],"law_id":366570,"edition_id":2,"section_id":366570,"structure_id":52234,"section_number":"5.1-165","catch_line":"Bonds as legal investments and security for public deposits","history":"2001, c. 342.","full_text":"Bonds issued by the Authority under the provisions of this act are hereby made securities in which all public officers and public bodies of the Commonwealth and its political subdivisions, all insurance companies, trust companies, banking associations, investment companies, executors, administrators, trustees and other fiduciaries may properly and legally invest funds, including capital in their control or belonging to them. Such bonds are hereby made securities which may properly and legally be deposited with and received by any state or municipal officer or any agency or political subdivision of the Commonwealth for any purpose for which the deposit of bonds or obligations is now or may hereafter be authorized by law.\n\n","order_by":null,"text":{"0":{"id":1364885,"text":"Bonds issued by the Authority under the provisions of this act are hereby made securities in which all public officers and public bodies of the Commonwealth and its political subdivisions, all insurance companies, trust companies, banking associations, investment companies, executors, administrators, trustees and other fiduciaries may properly and legally invest funds, including capital in their control or belonging to them. Such bonds are hereby made securities which may properly and legally be deposited with and received by any state or municipal officer or any agency or political subdivision of the Commonwealth for any purpose for which the deposit of bonds or obligations is now or may hereafter be authorized by law.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":52234,"edition_id":2,"name":"Metropolitan Washington Airports Authority","identifier":"10","label":"chapter","depth":2,"order_by":13,"parent_id":52221,"metadata":{"child_laws":27,"child_structures":0},"date_created":"2026-08-02 02:56:23","date_modified":"2026-08-02 12:27:53","permalink":{"id":1460623,"object_type":"structure","relational_id":52234,"identifier":"10","token":"5.1\/10","url":"\/5.1\/10\/","edition_id":2,"permalink":0,"preferred":1}},{"id":52221,"edition_id":2,"name":"Aviation","identifier":"5.1","label":"title","depth":1,"order_by":9,"parent_id":null,"metadata":{"child_laws":218,"child_structures":28},"date_created":"2026-08-02 02:56:16","date_modified":"2026-08-02 12:27:49","permalink":{"id":1460301,"object_type":"structure","relational_id":52221,"identifier":"5.1","token":"5.1","url":"\/5.1\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":366555,"structure_id":52234,"section_number":"5.1-152","catch_line":"Definitions","url":"\/5.1-152\/","token":"5.1\/10\/5.1-152","metadata":false},{"id":366556,"structure_id":52234,"section_number":"5.1-153","catch_line":"Metropolitan Washington Airports Authority created","url":"\/5.1-153\/","token":"5.1\/10\/5.1-153","metadata":false},{"id":366557,"structure_id":52234,"section_number":"5.1-154","catch_line":"Acquisition of airports; approval","url":"\/5.1-154\/","token":"5.1\/10\/5.1-154","metadata":false},{"id":366558,"structure_id":52234,"section_number":"5.1-155","catch_line":"Membership; terms; officers","url":"\/5.1-155\/","token":"5.1\/10\/5.1-155","metadata":false},{"id":366559,"structure_id":52234,"section_number":"5.1-156","catch_line":"Powers and duties of the Authority","url":"\/5.1-156\/","token":"5.1\/10\/5.1-156","metadata":false},{"id":366560,"structure_id":52234,"section_number":"5.1-157","catch_line":"Authority rules and regulations; penalty","url":"\/5.1-157\/","token":"5.1\/10\/5.1-157","metadata":false},{"id":366561,"structure_id":52234,"section_number":"5.1-158","catch_line":"Police","url":"\/5.1-158\/","token":"5.1\/10\/5.1-158","metadata":false},{"id":366562,"structure_id":52234,"section_number":"5.1-159","catch_line":"Operation of foreign trade zone","url":"\/5.1-159\/","token":"5.1\/10\/5.1-159","metadata":false},{"id":366565,"structure_id":52234,"section_number":"5.1-160","catch_line":"Acquisition of property; eminent domain","url":"\/5.1-160\/","token":"5.1\/10\/5.1-160","metadata":false},{"id":366566,"structure_id":52234,"section_number":"5.1-161","catch_line":"Revenue bonds","url":"\/5.1-161\/","token":"5.1\/10\/5.1-161","metadata":{"court_decisions":""}},{"id":366567,"structure_id":52234,"section_number":"5.1-162","catch_line":"Refunding bonds","url":"\/5.1-162\/","token":"5.1\/10\/5.1-162","metadata":{"court_decisions":""}},{"id":366568,"structure_id":52234,"section_number":"5.1-163","catch_line":"Pledge of funds","url":"\/5.1-163\/","token":"5.1\/10\/5.1-163","metadata":{"court_decisions":""}},{"id":366569,"structure_id":52234,"section_number":"5.1-164","catch_line":"Marketability of bonds","url":"\/5.1-164\/","token":"5.1\/10\/5.1-164","metadata":{"court_decisions":""}},{"id":366570,"structure_id":52234,"section_number":"5.1-165","catch_line":"Bonds as legal investments and security for public deposits","url":"\/5.1-165\/","token":"5.1\/10\/5.1-165","metadata":{"court_decisions":""}},{"id":366571,"structure_id":52234,"section_number":"5.1-166","catch_line":"Credit of Commonwealth and political subdivisions not pledged","url":"\/5.1-166\/","token":"5.1\/10\/5.1-166","metadata":false},{"id":366572,"structure_id":52234,"section_number":"5.1-167","catch_line":"Trust agreement","url":"\/5.1-167\/","token":"5.1\/10\/5.1-167","metadata":{"court_decisions":""}},{"id":366573,"structure_id":52234,"section_number":"5.1-168","catch_line":"Revenues","url":"\/5.1-168\/","token":"5.1\/10\/5.1-168","metadata":{"court_decisions":""}},{"id":366574,"structure_id":52234,"section_number":"5.1-169","catch_line":"Trust funds","url":"\/5.1-169\/","token":"5.1\/10\/5.1-169","metadata":{"court_decisions":""}},{"id":366576,"structure_id":52234,"section_number":"5.1-170","catch_line":"Annual audit","url":"\/5.1-170\/","token":"5.1\/10\/5.1-170","metadata":false},{"id":366577,"structure_id":52234,"section_number":"5.1-171","catch_line":"Remedies","url":"\/5.1-171\/","token":"5.1\/10\/5.1-171","metadata":false},{"id":366578,"structure_id":52234,"section_number":"5.1-172","catch_line":"Exemption from taxation","url":"\/5.1-172\/","token":"5.1\/10\/5.1-172","metadata":{"court_decisions":""}},{"id":366579,"structure_id":52234,"section_number":"5.1-173","catch_line":"Jurisdiction of courts; liability for contracts and torts","url":"\/5.1-173\/","token":"5.1\/10\/5.1-173","metadata":false},{"id":366580,"structure_id":52234,"section_number":"5.1-174","catch_line":"Procurement Act exemption","url":"\/5.1-174\/","token":"5.1\/10\/5.1-174","metadata":{"court_decisions":{"0":{"name":" .\u202f.\u202f. United States Ex Rel. Blumenthal-Kahn Electric Ltd. .\u202f.\u202f. ","case_number":"Civ.A. 02-743-A","citation":"219 F. Supp. 2d 710","date":"2002-09-04","url":"https:\/\/www.courtlistener.com\/opinion\/2448140\/united-states-ex-rel-blumenthal-kahn-electric-ltd-partnership-v-american\/","abstract":" .\u202f.\u202f. 219 F.Supp.2d 710 (2002) .\u202f.\u202f. ","court_html":"District Court, E.D. Virginia"},"1":{"name":" .\u202f.\u202f. Washington-Dulles Transportation, Limited v. Metropolitan .\u202f.\u202f. ","case_number":"01-1095","citation":"263 F.3d 371","date":"2001-08-29","url":"https:\/\/www.courtlistener.com\/opinion\/774715\/washington-dulles-transportation-limited-v-metropolitan-washington\/","abstract":" .\u202f.\u202f. 263 F.3d 371 (4th Cir. 2001) .\u202f.\u202f. ","court_html":"Court of Appeals for the Fourth Circuit"},"2":{"name":" .\u202f.\u202f. Washington-Dulles Transportation, Ltd. v. Metropolitan .\u202f.\u202f. ","case_number":"00-2153, 01-1095","citation":"263 F.3d 371","date":"2001-08-29","url":"https:\/\/www.courtlistener.com\/opinion\/2967455\/washington-dulles-transportation-ltd-v-metropolitan-washington-airports\/","abstract":" .\u202f.\u202f. Reversed and Remanded by published opinion. Judge TRAXLER wrote the opinion, in which Judge MOTZ and .\u202f.\u202f. ","court_html":"Court of Appeals for the Fourth Circuit"}}}},{"id":366581,"structure_id":52234,"section_number":"5.1-175","catch_line":"Act liberally construed","url":"\/5.1-175\/","token":"5.1\/10\/5.1-175","metadata":{"court_decisions":""}},{"id":366582,"structure_id":52234,"section_number":"5.1-176","catch_line":"Repealed","url":"\/5.1-176\/","token":"5.1\/10\/5.1-176","metadata":{"court_decisions":""}},{"id":366583,"structure_id":52234,"section_number":"5.1-177","catch_line":"Inconsistent laws inapplicable","url":"\/5.1-177\/","token":"5.1\/10\/5.1-177","metadata":false},{"id":366584,"structure_id":52234,"section_number":"5.1-178","catch_line":"Repealed","url":"\/5.1-178\/","token":"5.1\/10\/5.1-178","metadata":{"court_decisions":""}}],"previous_section":{"id":366569,"structure_id":52234,"section_number":"5.1-164","catch_line":"Marketability of bonds","url":"\/5.1-164\/","token":"5.1\/10\/5.1-164","metadata":{"court_decisions":""}},"next_section":{"id":366571,"structure_id":52234,"section_number":"5.1-166","catch_line":"Credit of Commonwealth and political subdivisions not pledged","url":"\/5.1-166\/","token":"5.1\/10\/5.1-166","metadata":false},"metadata":{"court_decisions":""},"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/5.1-165\/","history_text":"<p>This law was first created in 2001. The record of its establishment is cataloged in chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?011+ful+CHAP0342\">342<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":false,"permalink":{"id":1460677,"object_type":"law","relational_id":366570,"identifier":"5.1-165","token":"5.1\/10\/5.1-165","url":"\/5.1-165\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/5.1-165\/","token":"5.1\/10\/5.1-165","dublin_core":{"Title":"Bonds as legal investments and security for public deposits","Type":"Text","Format":"text\/html","Identifier":"\u00a7 5.1-165","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p><span class=\"dictionary\">Bonds<\/span> issued by the Authority under the provisions of this act are hereby made securities in which all public officers and public bodies of the Commonwealth and its political subdivisions, all insurance companies, trust companies, banking associations, investment companies, executors, administrators, trustees and other fiduciaries may properly and legally invest funds, including capital in their control or belonging to them. Such <span class=\"dictionary\">bonds<\/span> are hereby made securities which may properly and legally be deposited with and received by any state or municipal officer or any agency or political subdivision of the Commonwealth for any purpose for which the deposit of <span class=\"dictionary\">bonds<\/span> or obligations is now or may hereafter be authorized by <span class=\"dictionary\">law<\/span>.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nBONDS AS LEGAL INVESTMENTS AND SECURITY FOR PUBLIC DEPOSITS (\u00a7 5.1-165)\n\nBonds issued by the Authority under the provisions of this act are hereby made\nsecurities in which all public officers and public bodies of the Commonwealth\nand its political subdivisions, all insurance companies, trust companies,\nbanking associations, investment companies, executors, administrators, trustees\nand other fiduciaries may properly and legally invest funds, including capital\nin their control or belonging to them. Such bonds are hereby made securities\nwhich may properly and legally be deposited with and received by any state or\nmunicipal officer or any agency or political subdivision of the Commonwealth for\nany purpose for which the deposit of bonds or obligations is now or may\nhereafter be authorized by law.\n\nHISTORY: 2001, c. 342.","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"}}