22.1-160 - School boards authorized to anticipate payment of loans. - Virginia Statutes

§ 22.1-160. School boards authorized to anticipate payment of loans.

Any school board which is indebted for any money borrowed from the LiteraryFund may anticipate the payment of the principal amount of any such loan orloans, or any part thereof, by the payment of such principal amount withinterest thereon to the date of such anticipated payment and may borrow moneyand issue bonds for the purpose of raising funds to pay any notes or otherobligations of the school board now and hereafter held by the Literary Fund.

(Code 1950, § 22-115; 1980, c. 559.)