§ 2.2-4702. Powers of the Treasury Board under this chapter.
The Treasury Board shall have power to:
1. Provide assistance to issuers in the management of and accounting fortheir funds, including, without limitation, bond proceeds, reserves andsinking funds, and the investment thereof, any portion of the investmentearnings on which is or may be subject to rebate to the federal government.
2. Manage, acquire, hold, trade and sell investment obligations, for and onbehalf of issuers or a pool or pools, and not for its own account, that areauthorized investments for issuer bond proceeds, reserves, sinking funds orother funds, as the case may be.
3. Establish one or more pools of the issuer bond proceeds, reserves, sinkingfunds or other funds that are placed in the custody of the State Treasurerfor investment and reinvestment in authorized investments.
4. Adopt regulations necessary and proper for the efficient administration ofthe pools authorized by this chapter without complying with theAdministrative Process Act (§ 2.2-4000 et seq.), provided that notice and anopportunity to submit written comments on such regulations be given toofficials handling public funds.
5. Formulate policies for the investment and reinvestment of funds undermanagement, including funds in the pool or pools, and the acquisition,retention, management and disposition of investments.
6. Delegate the administration of this chapter to the State Treasurer,subject to the regulations and guidelines adopted by the Treasury Board.
7. Retain employees and engage and enter into contracts with independentinvestment managers, accountants, counsel, depository institutions and otheradvisors and agents, as may be necessary or convenient.
8. Enter into contracts with issuers with respect to the performance ofinvestment services.
9. Charge issuers for the costs of its investment services and for itsexpenses.
10. Do any and all other acts and things necessary, appropriate or incidentalin carrying out the purposes of this chapter.
(1988, c. 498, § 2.1-234.9:3; 1990, c. 516; 2001, c. 844.)
§ 2.2-4702. Powers of the Treasury Board under this chapter.
The Treasury Board shall have power to:
1. Provide assistance to issuers in the management of and accounting fortheir funds, including, without limitation, bond proceeds, reserves andsinking funds, and the investment thereof, any portion of the investmentearnings on which is or may be subject to rebate to the federal government.
2. Manage, acquire, hold, trade and sell investment obligations, for and onbehalf of issuers or a pool or pools, and not for its own account, that areauthorized investments for issuer bond proceeds, reserves, sinking funds orother funds, as the case may be.
3. Establish one or more pools of the issuer bond proceeds, reserves, sinkingfunds or other funds that are placed in the custody of the State Treasurerfor investment and reinvestment in authorized investments.
4. Adopt regulations necessary and proper for the efficient administration ofthe pools authorized by this chapter without complying with theAdministrative Process Act (§ 2.2-4000 et seq.), provided that notice and anopportunity to submit written comments on such regulations be given toofficials handling public funds.
5. Formulate policies for the investment and reinvestment of funds undermanagement, including funds in the pool or pools, and the acquisition,retention, management and disposition of investments.
6. Delegate the administration of this chapter to the State Treasurer,subject to the regulations and guidelines adopted by the Treasury Board.
7. Retain employees and engage and enter into contracts with independentinvestment managers, accountants, counsel, depository institutions and otheradvisors and agents, as may be necessary or convenient.
8. Enter into contracts with issuers with respect to the performance ofinvestment services.
9. Charge issuers for the costs of its investment services and for itsexpenses.
10. Do any and all other acts and things necessary, appropriate or incidentalin carrying out the purposes of this chapter.
(1988, c. 498, § 2.1-234.9:3; 1990, c. 516; 2001, c. 844.)
§ 2.2-4702. Powers of the Treasury Board under this chapter.
The Treasury Board shall have power to:
1. Provide assistance to issuers in the management of and accounting fortheir funds, including, without limitation, bond proceeds, reserves andsinking funds, and the investment thereof, any portion of the investmentearnings on which is or may be subject to rebate to the federal government.
2. Manage, acquire, hold, trade and sell investment obligations, for and onbehalf of issuers or a pool or pools, and not for its own account, that areauthorized investments for issuer bond proceeds, reserves, sinking funds orother funds, as the case may be.
3. Establish one or more pools of the issuer bond proceeds, reserves, sinkingfunds or other funds that are placed in the custody of the State Treasurerfor investment and reinvestment in authorized investments.
4. Adopt regulations necessary and proper for the efficient administration ofthe pools authorized by this chapter without complying with theAdministrative Process Act (§ 2.2-4000 et seq.), provided that notice and anopportunity to submit written comments on such regulations be given toofficials handling public funds.
5. Formulate policies for the investment and reinvestment of funds undermanagement, including funds in the pool or pools, and the acquisition,retention, management and disposition of investments.
6. Delegate the administration of this chapter to the State Treasurer,subject to the regulations and guidelines adopted by the Treasury Board.
7. Retain employees and engage and enter into contracts with independentinvestment managers, accountants, counsel, depository institutions and otheradvisors and agents, as may be necessary or convenient.
8. Enter into contracts with issuers with respect to the performance ofinvestment services.
9. Charge issuers for the costs of its investment services and for itsexpenses.
10. Do any and all other acts and things necessary, appropriate or incidentalin carrying out the purposes of this chapter.
(1988, c. 498, § 2.1-234.9:3; 1990, c. 516; 2001, c. 844.)
