10.1-2202.1 - Historic Resources Fund established; administration; purpose. - Virginia Statutes

§ 10.1-2202.1. Historic Resources Fund established; administration; purpose.

A. There is hereby established a special, nonreverting fund in the statetreasury to be known as the Historic Resources Fund, hereafter referred to asthe Fund. The Fund shall be administered and managed by the Director and usedfor the general purposes of education, financing of museum operating andcapital expenses, performing research, and conducting special historicpreservation projects as identified by the Department and the donors. TheFund shall consist of appropriations from the General Assembly designated forthe Fund, any gifts and bequests, cash and noncash, and all proceeds from thesale of Department publications and educational or promotional material,income from contracted services, and grants. Initial funding shall be made bya transfer of existing donations and special funds consistent with the intentof this new fund.

B. The Fund shall be established on the books of the State Comptroller. Anymoneys remaining in the Fund shall not revert to the general fund but shallremain in the Fund. Interest earned on such moneys shall remain in the Fundand be credited to it. Any income earned from gifts, bequests, securities,and other property shall be deposited to the credit of the Fund.

(1995, c. 21.)