15.2-2624 - Tax to pay principal and interest. - Virginia Statutes

§ 15.2-2624. Tax to pay principal and interest.

Notwithstanding any other provision of law or any charter provision, thegoverning body is authorized and required to levy and collect annually, atthe same time and in the same manner as other taxes of the locality areassessed, levied and collected, a tax upon all taxable property within thelocality, over and above all other taxes, authorized or limited by law andwithout limitation as to rate or amount, sufficient to pay when due theprincipal of and premium, if any, and interest on any general obligationbonds of the locality issued under the provisions of this chapter to theextent other funds of the locality are not lawfully available andappropriated for such purpose.

(1991, c. 668, § 15.1-227.25; 1997, c. 587.)