10.1-631 - Annual tax for payment of interest or to amortize indebtedness or bonds. - Virginia Statutes

§ 10.1-631. Annual tax for payment of interest or to amortize indebtedness orbonds.

The governing body of the watershed improvement district shall, if necessaryto pay the interest on the indebtedness or bonds or to amortize suchindebtedness or bonds, levy an annual tax or service charge in the mannerprescribed by § 10.1-626 on all the real estate in the watershed improvementdistrict subject to local taxation, to satisfy such obligations. This tax,irrespective of any approvals required pursuant to § 10.1-614, shall besufficient to pay interest and to amortize such indebtedness or bonds at thetimes required.

(1956, c. 668, § 21-112.18; 1973, c. 35; 1981, c. 156; 1988, c. 891; 1996,cc. 105, 819.)