15.2-1651 - When supervisors may issue bonds of county. - Virginia Statutes

§ 15.2-1651. When supervisors may issue bonds of county.

If the land is not donated, and the fund offered is not sufficient to acquirethe land and erect the necessary buildings, or if the land is donated and thefund offered is not sufficient for the purposes aforesaid, the board ofsupervisors may issue the bonds of the county to an amount which with thefund offered shall be equal to the amount set out in the petition, and theproceeds of the bonds with the amount donated shall constitute the fund outof which the land shall be acquired, if not donated, and the buildingserected and improvements made. If the financial condition of the county issuch as to render the issue of bonds unnecessary, the supervisors may declineto issue them. However, the amount expended shall not exceed the amount namedin the petition and authorized by the voters.

(Code 1950, § 15-50; 1962, c. 623, § 15.1-566; 1997, c. 587.)