15.2-2638 - Powers of counties generally; approval of voters required. - Virginia Statutes

§ 15.2-2638. Powers of counties generally; approval of voters required.

A. Except as provided in subsection B of this section, no county has thepower to contract any debt or to issue its bonds unless a majority of thevoters of the county voting on the question at an election held in accordancewith §§ 15.2-2610 and 15.2-2611 approve contracting the debt, borrowing themoney and issuing the bonds.

B. Voter approval is not required for a county (i) to contract debt or toissue bonds described in Article VII, Section 10 (a) (1) and (3) of theConstitution of Virginia, (ii) to issue refunding bonds, or (iii) to issuebonds, with the consent of the school board and the governing body of thecounty, for capital projects for school purposes which are sold to theLiterary Fund, the Virginia Retirement System, or other state agencyprescribed by law.

(Code 1950, § 15-666.28; 1958, c. 640; 1962, c. 623, § 15.1-185; 1971, Ex.Sess., c. 224; 1991, c. 668, § 15.1-227.39; 1997, c. 587.)