Out of the appropriation made by the General Assembly for the support of the University, there shall be first set apart, annually, a sum sufficient to pay the interest accruing on the existing interest-bearing debt of the University, except as provided in § 23.1-1109, and to constitute a sinking fund for the liquidation of the principal of such debt. Such sum shall be applied to no other purpose or object.
Va. Code Ann. § 23.1-2207
Payment of interest on debt of University; sinking fund
Code 1919, § 820, § 23-67; 2016, c. 588.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.