Virginia § 2.2-4902 Ratings of bonds issued by governmental instrumentalities

Virginia Statutes

§ 2.2-4902 — Ratings of bonds issued by governmental instrumentalities

Virginia § 2.2-4902

JurisdictionVirginia

Title 2.2ADMINISTRATION OF GOVERNMENT

Subtitle IIADMINISTRATION OF STATE GOVERNMENT

Ch. 49PUBLIC DEBT; ISSUANCE OF BONDS AND CERTIFICATES OF INDEBTEDNESS

Part BTRANSACTION OF PUBLIC BUSINESS

This text of Virginia § 2.2-4902 (Ratings of bonds issued by governmental instrumentalities) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 2.2-4902 (2026).

Text

A.As used in this section, unless the context requires a different meaning: "Bond" means any bonds, refunding bonds, notes, debentures, interim certificates, or any bond, grant, revenue anticipation notes or any other evidences of indebtedness, whether in temporary or definitive form and whether or not the interest thereon is exempt from federal taxation. "Governmental instrumentality" means each department, institution, commission, public corporate instrumentality, or agency of the Commonwealth, including the Commonwealth itself, and each political subdivision thereof, including but without limitation each public authority and district and each county, city or town and each instrumentality thereof which under law has the power to issue bonds.

B.Notwithstanding any provision contained

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A. As used in this section, unless the context requires a different meaning:

"Bond" means any bonds, refunding bonds, notes, debentures, interim certificates, or any bond, grant, revenue anticipation notes or any other evidences of indebtedness, whether in temporary or definitive form and whether or not the interest thereon is exempt from federal taxation.

"Governmental instrumentality" means each department, institution, commission, public corporate instrumentality, or agency of the Commonwealth, including the Commonwealth itself, and each political subdivision thereof, including but without limitation each public authority and district and each county, city or town and each instrumentality thereof which under law has the power to issue bonds.

B. Notwithstanding any provision contained in any general or special law or in any charter of any county, city or town of the Commonwealth, any rating of bonds issued by a governmental instrumentality shall be provided by a bond rating agency approved by the State Treasurer.

C. In addition to all of his other powers and duties, the State Treasurer shall prepare a list of approved bond rating agencies and upon request provide a copy thereof to all governmental instrumentalities.