CHAPTER 577

An Act to repeal §§ 2-272, 2-278 and 2-279 of the Code of Virginia, relating
respectively, to duties of State Treasurer concerning certain bond
coupons, cancellation of old bonds and certificates, ana issuance of NEw
bonds and certificates, and where cancelled bonds and certificates to
remain; to amend and reenact § 23-29 of the Code of Virginia, relating
to what provisions of law to govern bond issues by certain educational
institutions; and to amend the Code of Virginia by adding a section
numbered 2-279.1, authorizing the State Treasurer to destroy certain
cancelled coupons and bonds of the Commonwealth. CH 658]

Approved March 31, 1962

Be it enacted by the General Assembly of Virginia:

1. That § 23-29 of the Code of Virginia be amended and reenacted and
that the Code of Virginia be amended by adding a new section numbered
2-279.1 as follows: ;

§ 2-279.1. The State Treasurer is hereby authorized to destroy all
coupons and bonds which have been paid by him and which have been
cancelled and have remained in his office for at least three years, provided
the Auditor of Public Accounts has audited and approved the records of
the State Treasurer for the period covering the time during which such
coupons and bonds were paid and cancelled. Such destruction may be by
burning or otherwise. Before destroying any such cancelled coupon or
bond, the State Treasurer shall notify the State Librarian that he intends
to destroy the same and the State Treasurer is authorized to transfer to the
State Librarian any such cancelled coupon or bond which the latter desires
for historical purposes.

23-29. Insofar as the provisions of this chapter are inconsistent
with the provisions of any other law, general or special, or of the charter
or other organic law of any institution, the provisions of this chapter
shall be controlling; provided, that the provisions of Article 2 of Chapter
16 of Title 2 of the Code shall apply to bonds and other evidences of in-
debtedness heretofore or hereafter issued under this chapter of Title 23 in
any case in which the State Treasurer acted or acts as paying or fiscal
agent of the issuing institution.

2. That §§ 2-272, 2-278 and 2-279 of the Code of Virginia are repealed.
38. This act shall be in force on and after July one, nineteen hundred
sixty-two.