15.2-2601 - Chapter not to affect general, special and local acts and charters under which bonds are issued or validated. - Virginia Statutes

§ 15.2-2601. Chapter not to affect general, special and local acts andcharters under which bonds are issued or validated.

Unless expressly stated to the contrary nothing in this chapter repeals,amends, impairs or in any way affects (i) any act under the provisions ofwhich bonds have heretofore been issued and are outstanding as of June 30,1991, (ii) any act, general or special, validating bonds or any proceedingsin connection with the issuance of bonds, or (iii) any special rights,privileges, restrictions or limitations now contained in any locality'scharter. Nothing in this chapter repeals, amends, impairs or in any wayaffects any of the provisions of any charter or special or local actauthorizing or regulating the issuance of bonds by a locality. The provisionsof this chapter are in addition to the powers conferred by any charter orspecial or local act, and a locality may issue bonds, at the election of itsgoverning body, under either (i) the provisions of this chapter withoutregard to the requirements, restrictions or other provisions contained in anycharter or local or special act applicable to the locality or (ii) theprovisions of such charter or local or special act; however, after July 1,1992, notwithstanding the foregoing, any referendum requirement for theissuance of bonds or debt limit contained in any charter or local or specialact shall control over the provisions of this chapter.

(Code 1950, § 15-666.14; 1958, c. 640; 1962, c. 623, § 15.1-171; 1991, c.668, § 15.1-227.2; 1997, c. 587.)