Virginia § 29.1-101.5 - Grants and loans to local governments
Full text of Virginia Code of Virginia § 29.1-101.5 — Grants and loans to local governments, with citation guidance and answers to common questions.
§ 29.1-101.5. Grants and loans to local governments
After consultation with the Commissioner of the Virginia Marine Resources Commission, the Department may offer to finance the construction of fishways for any local government which owns a dam or other artificial impediment to the free passage of anadromous fish. The Fund will pay for seventy-five percent of the entire cost of the fishway, and will lend the balance of the cost to the local government. The loan shall be repaid over ten years at no interest or over twenty years at an annual rate of interest which shall be two percentage points below the rate for municipal bonds given in the latest Bond Buyer Twenty Bond Index appearing before the loan is made. Any balance of a loan not paid off as required by this section shall be paid off as provided in § 29.1-101.4. The Department shall approve the design of the fishway prior to the making of any grant or loan from the Fund pursuant to this section.
All local governments borrowing money from the Fund are authorized to take any action, adopt any proceedings and make and carry out any contracts that are contemplated by this chapter. Such contracts need not be identical among all local governments, but may be structured as determined by the Department according to the needs of the contracting local governments and the Fund.
1989, c. 5, § 10.1-1217; 1992, cc. 464, 887.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 29.1-101.5
What does Code of Virginia § 29.1-101.5 cover?
Section 29.1-101.5 ("Grants and loans to local governments") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 29.1-101.5?
A common citation format is "Code of Virginia § 29.1-101.5" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 29.1-101.5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.