HB2350: Literary Fund; school board's application for loan must be signed by governing body & school board.

Chief Patron

Del. Robert Tata (R-85)

Robert Tata (R-85)
Virginia Beach, VA
Served: 1984–

Progress

	Introduced
	Passed Committee
	Passed House
	Passed Senate
	Signed by Governor
	Became Law

Status

03/08/2007: signed by governor

View Entire History

Summary

Literary Fund.  Provides that a school board's application to the Board of Education for a loan from the Literary Fund must be signed by the chairman of the governing body and the chairman of the school board. The Board may not disburse any proceeds of any approved loan before its receipt of the concurrent approval of the governing body at the time of initial disbursement and an acceptable opinion of bond counsel obtained by the local governing body as to the validity of the loan. The bill also repeals §§ 22.1-154 through 22.1-157, that provide for: (i) the examination of title to property on application for loan, (ii) the certificate of the clerk of court or copy of lease on the application for a loan, and (iii) the submission of the application and certificate of title to the Attorney General.