15.2-6010 - Proceeds held. - Virginia Statutes

§ 15.2-6010. Proceeds held.

The treasurer may invest and reinvest funds of the Authority pending theirneed. All moneys received by the Authority pursuant to § 15.2-6009, togetherwith any matching funds received from state or federal sources, shall beapplied and used only in the county or city from which the funds werereceived, unless the governing body of the county or city consents to theiruse in another county or city.

Moneys received pursuant to § 58.1-3713.4 may be used at the discretion ofthe Authority for purposes and projects as determined by the Authority.

(1988, c. 833, § 15.1-1645; 1990, c. 341; 1997, c. 587.)