2006 Code of Virginia § 22.1-159 - Loans for construction of school facilities to serve portions of counties; levy of taxes for purpos...

22.1-159. Loans for construction of school facilities to serve portions ofcounties; levy of taxes for purpose of repaying such loans.

Notwithstanding any other provision of law to the contrary, the school boardof any school division composed of part or all of a county, with the approvalof the governing body of the county, is authorized to borrow from theLiterary Fund for the purpose of constructing school facilities in suchcounty to serve a portion of such county. Taxes on property in themagisterial districts served by such facilities shall be levied by thegoverning body of the county and collected for the purpose of repaying suchloan; provided that, for the purposes of this section, a magisterial districtshall not include a town constituting a separate school division but thegoverning body of the county may levy a separate tax on property in a town insuch county constituting a separate school division to repay money borrowedby such county from the Literary Fund for the purpose of constructing schoolfacilities in such town. Except as otherwise provided by this section allother provisions of law relating to Literary Fund loans shall apply to a loanauthorized by this section.

(Code 1950, 22-107.3; 1962, c. 177; 1976, c. 334; 1980, c. 559.)