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2018 Code of Virginia
Title 15.2 - Counties, Cities and Towns
Chapter 26 - Public Finance Act
Article 1. General Provisions
- § 15.2-2600. Short title
- § 15.2-2601. Chapter not to affect general, special and local acts and charters under which bonds are issued or validated
- § 15.2-2602. Definitions
- § 15.2-2603. Disposition of unclaimed funds due on matured bonds or coupons
Article 2. Provisions Applicable to All Bonds
- § 15.2-2604. Powers generally
- § 15.2-2605. Collection of rents and charges; liens on real estate; discharge and enforcement of liens
- § 15.2-2606. Public hearing before issuance of bonds
- § 15.2-2607. Provisions which may be embodied in bond ordinances or resolution; adoption; filing copy with court
- § 15.2-2608. Bonds for revenue-producing undertakings
- § 15.2-2609. Covenants relating to issuance of revenue bonds
- § 15.2-2610. Request for referendum filed with court; order for election; notice
- § 15.2-2611. Holding of election; order authorizing bonds; authority of governing body
- § 15.2-2612. Dating; rate of interest; maturity; denomination; place of payment
- § 15.2-2613. Form and manner of execution; signature of person ceasing to be officer
- § 15.2-2614. Bearer, registered or book entry form
- § 15.2-2615. Bonds deemed negotiable instruments
- § 15.2-2616. Interim receipts or temporary bonds exchangeable for definitive bonds
- § 15.2-2617. Sale of bonds
- § 15.2-2618. Disposition of proceeds; separate fund
- § 15.2-2619. Investment of proceeds pending application to authorized purpose
- § 15.2-2620. Bonds made legal investments
- § 15.2-2621. Bonds mutilated, lost or destroyed
- § 15.2-2622. Destruction of bonds and coupons after payment in full
- § 15.2-2623. Defeasance of indebtedness; rights of owners
- § 15.2-2624. Tax to pay principal and interest
- § 15.2-2625. Deposit of funds; security; investment of funds
- § 15.2-2626. Contracts concerning interest rates, currency, cash flow or other basis
- § 15.2-2627. Time for contesting validity of proposed bond issue; when bonds presumed valid
- § 15.2-2628. Notes in anticipation of bond issue
- § 15.2-2629. Loans to meet appropriations for current year
- § 15.2-2630. Loans in anticipation of federal and state funds
- § 15.2-2631. Terms of temporary loans
Article 3. Bonds Issued by Municipalities
- § 15.2-2632. Certain debts that may be contracted by city on transition from town
- § 15.2-2633. Borrowing by certain cities to pay expenses
- § 15.2-2634. Limitation on amount of outstanding bonds
- § 15.2-2635. What indebtedness not included in determining limitation
- § 15.2-2636. Ordinance or resolution to provide for issue of bonds
- § 15.2-2637. Danville to incur indebtedness only in accordance with charter
Article 4. Bond Issues by Counties
- § 15.2-2638. Powers of counties generally; approval of voters required
- § 15.2-2639. County may elect to be treated as city for issuing bonds
- § 15.2-2640. Resolution for bond issue; contents; request for bonds for school purposes
- § 15.2-2641. Subsequent resolutions
- § 15.2-2642. School district bonds
Article 5. Refunding Bonds
- § 15.2-2643. Authority for issuance; resolutions or ordinances
- § 15.2-2644. Issuance or exchange for indebtedness to be retired; sale and disposition of proceeds; rights of owners
- § 15.2-2645. Amount of bonds
- § 15.2-2646. Participation in funds donated by the Commonwealth
- § 15.2-2647. Expenses of authorization and issuance; agent to assist in refunding transaction
- § 15.2-2648. Purchase in open market
- § 15.2-2649. District refunding bonds
Article 6. Judicial Determination of Validity of Bonds
- § 15.2-2650. Article controlling as to proceedings involving validity
- § 15.2-2651. Proceeding by political subdivision to establish validity; procedure; parties defendant
- § 15.2-2652. Service by publication of motion for judgment; parties defendant
- § 15.2-2653. Contesting issuance of bonds; notice and hearing; service on member of governing body, etc.
- § 15.2-2654. Reply by party defendant; intervention by interested parties; determination of questions; orders; precedence over other business
- § 15.2-2655. Consolidation of actions or proceedings
- § 15.2-2656. Appeals
- § 15.2-2657. Decree validating bonds binding and conclusive
- § 15.2-2658. Bonds invalidated only for substantial defects, etc.; matters of form disregarded
Article 7. Miscellaneous
- § 15.2-2659. Investigation by Governor of alleged defaults; withholding state funds from defaulting locality; payment of funds withheld; receipts, reports, etc.; magisterial and school district defaults included
- § 15.2-2660. Bonds not affected by project undertaken
- § 15.2-2661. Provisions of chapter controlling; powers conferred are additional
- § 15.2-2662. Validation of bonds
- § 15.2-2663. Transition
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