45.1-161.321 - Expense of acquiring and operating coal properties; funds derived from operation. - Virginia Statutes

§ 45.1-161.321. Expense of acquiring and operating coal properties; fundsderived from operation.

The expense of acquiring and operating any property or properties acquiredunder this chapter shall be paid out of moneys transferred from the generalfund of the Commonwealth not otherwise appropriated upon such authorizationsas the Governor may prescribe and shall be credited to the account of theCommission, and all funds and revenues derived from or received as a resultof said operations shall be paid into the state treasury and credited to thesame account. Any amounts transferred upon authorization of the Governor fromthe general fund of the Commonwealth shall be known and designated as the"Capital Account" of the Commission, which amount, or residue thereof,together with any surplus that may accrue, shall be returned to the generalfund of the Commonwealth in the event of liquidation or, in the absence ofliquidation, in such installments and at such times as the Governor mayprescribe.

(Code 1950, § 45-152; 1950, p. 32; 1966, c. 594, § 45.1-152; 1994, c. 28.)