3.2-602 - Virginia Farm Loan Revolving Account. - Virginia Statutes

§ 3.2-602. Virginia Farm Loan Revolving Account.

Notwithstanding any other provisions of law, funds and the proceeds of thetrust assets that are not authorized to be administered by the U.S.Department of Agriculture under the provisions of § 3.2-601 shall be paid toand received by the Commissioner and by him paid into the state treasury forcredit to an account to be known as the "Virginia Farm Loan RevolvingAccount." The entire amount so received, together with any moneysappropriated for such purposes, is hereby appropriated out of the VirginiaFarm Loan Revolving Account for expenditure by the Commissioner for such ofthe rural rehabilitation purposes permissible under the charter of the nowdissolved Virginia Rural Rehabilitation Corporation, as may from time to timebe agreed upon by the Commissioner and the U.S. Department of Agriculture,subject to the applicable provisions of the federal Rural RehabilitationCorporation Trust Liquidation Act (40 U.S.C. § 440 et seq.), or for thepurposes of § 3.2-601. Such expenditure shall be paid by the State Treasureron warrants of the Comptroller issued on vouchers signed by the Commissioner.

(Code 1950, § 3-27.3; 1952, c. 118; 1966, c. 702, § 3.1-25; 2008, c. 860.)