§ 23-30.25. Creation and organization of Authority; surety bonds.
The Virginia College Building Authority is hereby created as a public bodycorporate and as a political subdivision and an agency and instrumentality ofthe Commonwealth of Virginia, and as such, shall have and is hereby vestedwith the powers, rights and duties hereinafter conferred in this chapter.
The Virginia College Building Authority shall consist of the State Treasurer,the State Comptroller, the Director of Planning and Budget, the Director ofthe State Council of Higher Education for Virginia, and seven additionalmembers appointed by the Governor, subject to confirmation by the GeneralAssembly, if in session when such appointments are made, and if not insession, at its first session subsequent to such appointment, who shall serveat the pleasure of the Governor. The initial members shall be the members ofthe Authority heretofore appointed under the Virginia College BuildingAuthority Act of 1964 for the terms appointed pursuant to that act and untiltheir successors shall be appointed and qualified. The successors of each ofthe appointed members shall be appointed for a term of four years, exceptthat appointments to fill vacancies shall be made for the unexpired terms.Such members shall serve no more than two consecutive terms. The secretaryand the assistant secretary may receive such compensation as the Authoritymay provide.
The Governor shall appoint one member as chairman, who shall be the chiefexecutive officer of the Authority and who shall receive such compensation asthe Governor shall fix. Neither the State Treasurer, the State Comptroller,the Director of the State Council of Higher Education for Virginia nor theDirector of Planning and Budget shall be eligible to serve as chairman. Sixmembers of the Authority shall constitute a quorum for the transaction of allbusiness of the Authority. The Authority shall elect one member from thegroup of seven members appointed by the Governor as vice-chairman, who shallexercise the powers of the chairman in the absence of the chairman. TheAuthority shall elect a treasurer, a secretary, and an assistant secretary,each of whom may perform the duties and functions commonly performed by suchofficers. All such officers, except the secretary and the assistantsecretary, shall be selected from members of the Authority. Each member ofthe Authority hereafter appointed and the secretary and the assistantsecretary of the Authority shall execute a surety bond in such penal sum asshall be determined by the Attorney General, each such surety bond to beconditioned upon the faithful performance of the duties of his office, to beexecuted by a surety company authorized to transact business in theCommonwealth of Virginia as surety and to be approved by the Attorney Generaland filed in the office of the Secretary of the Commonwealth.
(1964, c. 607; 1966, c. 685; 1980, c. 728; 1986, c. 597.)
§ 23-30.25. Creation and organization of Authority; surety bonds.
The Virginia College Building Authority is hereby created as a public bodycorporate and as a political subdivision and an agency and instrumentality ofthe Commonwealth of Virginia, and as such, shall have and is hereby vestedwith the powers, rights and duties hereinafter conferred in this chapter.
The Virginia College Building Authority shall consist of the State Treasurer,the State Comptroller, the Director of Planning and Budget, the Director ofthe State Council of Higher Education for Virginia, and seven additionalmembers appointed by the Governor, subject to confirmation by the GeneralAssembly, if in session when such appointments are made, and if not insession, at its first session subsequent to such appointment, who shall serveat the pleasure of the Governor. The initial members shall be the members ofthe Authority heretofore appointed under the Virginia College BuildingAuthority Act of 1964 for the terms appointed pursuant to that act and untiltheir successors shall be appointed and qualified. The successors of each ofthe appointed members shall be appointed for a term of four years, exceptthat appointments to fill vacancies shall be made for the unexpired terms.Such members shall serve no more than two consecutive terms. The secretaryand the assistant secretary may receive such compensation as the Authoritymay provide.
The Governor shall appoint one member as chairman, who shall be the chiefexecutive officer of the Authority and who shall receive such compensation asthe Governor shall fix. Neither the State Treasurer, the State Comptroller,the Director of the State Council of Higher Education for Virginia nor theDirector of Planning and Budget shall be eligible to serve as chairman. Sixmembers of the Authority shall constitute a quorum for the transaction of allbusiness of the Authority. The Authority shall elect one member from thegroup of seven members appointed by the Governor as vice-chairman, who shallexercise the powers of the chairman in the absence of the chairman. TheAuthority shall elect a treasurer, a secretary, and an assistant secretary,each of whom may perform the duties and functions commonly performed by suchofficers. All such officers, except the secretary and the assistantsecretary, shall be selected from members of the Authority. Each member ofthe Authority hereafter appointed and the secretary and the assistantsecretary of the Authority shall execute a surety bond in such penal sum asshall be determined by the Attorney General, each such surety bond to beconditioned upon the faithful performance of the duties of his office, to beexecuted by a surety company authorized to transact business in theCommonwealth of Virginia as surety and to be approved by the Attorney Generaland filed in the office of the Secretary of the Commonwealth.
(1964, c. 607; 1966, c. 685; 1980, c. 728; 1986, c. 597.)
§ 23-30.25. Creation and organization of Authority; surety bonds.
The Virginia College Building Authority is hereby created as a public bodycorporate and as a political subdivision and an agency and instrumentality ofthe Commonwealth of Virginia, and as such, shall have and is hereby vestedwith the powers, rights and duties hereinafter conferred in this chapter.
The Virginia College Building Authority shall consist of the State Treasurer,the State Comptroller, the Director of Planning and Budget, the Director ofthe State Council of Higher Education for Virginia, and seven additionalmembers appointed by the Governor, subject to confirmation by the GeneralAssembly, if in session when such appointments are made, and if not insession, at its first session subsequent to such appointment, who shall serveat the pleasure of the Governor. The initial members shall be the members ofthe Authority heretofore appointed under the Virginia College BuildingAuthority Act of 1964 for the terms appointed pursuant to that act and untiltheir successors shall be appointed and qualified. The successors of each ofthe appointed members shall be appointed for a term of four years, exceptthat appointments to fill vacancies shall be made for the unexpired terms.Such members shall serve no more than two consecutive terms. The secretaryand the assistant secretary may receive such compensation as the Authoritymay provide.
The Governor shall appoint one member as chairman, who shall be the chiefexecutive officer of the Authority and who shall receive such compensation asthe Governor shall fix. Neither the State Treasurer, the State Comptroller,the Director of the State Council of Higher Education for Virginia nor theDirector of Planning and Budget shall be eligible to serve as chairman. Sixmembers of the Authority shall constitute a quorum for the transaction of allbusiness of the Authority. The Authority shall elect one member from thegroup of seven members appointed by the Governor as vice-chairman, who shallexercise the powers of the chairman in the absence of the chairman. TheAuthority shall elect a treasurer, a secretary, and an assistant secretary,each of whom may perform the duties and functions commonly performed by suchofficers. All such officers, except the secretary and the assistantsecretary, shall be selected from members of the Authority. Each member ofthe Authority hereafter appointed and the secretary and the assistantsecretary of the Authority shall execute a surety bond in such penal sum asshall be determined by the Attorney General, each such surety bond to beconditioned upon the faithful performance of the duties of his office, to beexecuted by a surety company authorized to transact business in theCommonwealth of Virginia as surety and to be approved by the Attorney Generaland filed in the office of the Secretary of the Commonwealth.
(1964, c. 607; 1966, c. 685; 1980, c. 728; 1986, c. 597.)
