2015 Code of Virginia
Title 23 - Educational Institutions
§ 23-136. Institutions receiving interest accruing on proceeds of land scrip
The General Assembly having accepted the donation of lands proffered to Virginia by the act of Congress of July 2, 1862; and,
The authorities of the Commonwealth having received the land scrip it was entitled to under such act of Congress; and,
The Board of Education having, in conformity with the acts of February seventh, and March 19, 1872, made sale of the scrip and invested the proceeds in state bonds, which were directed to be set apart and to constitute an education fund:
The annual accruing interest from such fund shall henceforth until otherwise provided by law be paid one-third thereof to the Virginia State University, and two-thirds to the board of visitors of the Virginia Polytechnic Institute and State University.
Code 1919, ยง 853; 1920, p. 492; 1979, c. 147.
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