CHAPTER 485

An Act to amend and reenact § 33-240 of the Code of Virginia, relating to
bonds issued or which may be issued under the State Revenue Bond

Act.
[S 321]
Approved April 2, 1952

Be it enacted by the General Assembly of Virginia:

1. That § 33-240 of the Code of Virginia be amended and reenacted as
follows:

§ 33-240. Sale of bonds; bonds as legal investments.—The Commis-
sion may sell such bonds in such manner and for such price as it may
determine to be for the best interests of the State, but no such sale shall
be made at a price so low as to require the payment of interest on the
money received therefor at more than five per centum per annum, com-
puted with relation to the absolute maturity of the bonds in accordance
with standard tables of bond values, excluding, however, from such
computations the amount of any premium to be paid on redemption of any
bonds prior to maturity.

All bonds heretofore or hereafter issued pursuant to the authority
of this Article are hereby made securities in which all public officers and
bodies of this State and all political subdivisions thereof, all insurance
companies and associations, all national banks and trust companies, and
savings institutions, including savings and loan associations, in the State,
and all executors, administrators, trustees, and other fiduciaries, both in-
dividual and corporate, may properly and legally invest funds within their
control.