§ 2.2-4600. Short title; definitions
This chapter may be cited as the “Local Government Investment Pool Act.” 1980, c. 538, §§ 2.1-234.1, 2.1-234.3; 1996, c. 77; 2001, c. 844.
§ 2.2-4601. Findings and purpose
A. The General Assembly finds that the public interest is served by maximum and prudent investment of public funds so that the need for taxes and other public revenues is decreased commensurately with the earnings on such investments. In selecting among avenues of investment, the highest rate of return, consistent with safety and liquidity, shall […]
§ 2.2-4602. Local government investment pool created
A. A local government investment pool is created, consisting of the aggregate of all funds from local officials handling public funds that are placed in the custody of the State Treasurer for investment and reinvestment as provided in this chapter. B. The Treasury Board or its designee shall administer the local government investment pool on […]
§ 2.2-4603. Investment authority
Subject to the procedures set forth in this chapter, any local official handling public funds may invest and reinvest any money subject to his control and jurisdiction in the local government investment pool established by § 2.2-4602. 1980, c. 538, § 2.1-234.4; 1988, c. 834; 2001, c. 844.
§ 2.2-4604. Interfund pooling for investment purposes
Local officials handling public funds may effect temporary transfers among separate funds for the purpose of pooling amounts available for investment. This pooling may be accomplished through interfund advances and other appropriate means consistent with recognized principles of governmental accounting provided that (i) moneys are available for the investment period required; (ii) the investment fund […]
§ 2.2-4605. Powers of Treasury Board relating to the administration of local government investment pool
A. The Treasury Board shall have power to: 1. Make and adopt regulations necessary and proper for the efficient administration of the local government investment pool hereinafter created, including but not limited to: a. Specification of minimum amounts that may be deposited in the local government investment pool and minimum periods of time for which […]
§ 2.2-4606. Chapter controlling over inconsistent laws; powers supplemental
Insofar as the provisions of this chapter are inconsistent with the provisions of any other law, the provisions of this chapter shall be controlling and the powers conferred by this chapter shall be in addition and supplemental to the powers conferred by any other law. 1980, c. 538, § 2.1-234.9; 2001, c. 844.