15.2-2640 - Resolution for bond issue; contents; request for bonds for school purposes. - Virginia Statutes

§ 15.2-2640. Resolution for bond issue; contents; request for bonds forschool purposes.

Whenever the governing body of any county determines that it is advisable tocontract a debt and issue general obligation bonds of the county, it shalladopt an ordinance or resolution setting forth in brief and general terms thepurpose or purposes for which the bonds are to be issued and the maximumamount of the bonds to be issued.

Where voter approval is required or permitted by the Constitution of Virginiaor this chapter, the ordinance or resolution shall request the circuit courtto order an election to be held pursuant to §§ 15.2-2610 and 15.2-2611 on thequestion of contracting the debt and issuing the proposed bonds.

Before the adoption of an ordinance or resolution by the governing body ofany county requesting the ordering of an election on the question ofcontracting a debt and issuing bonds for school purposes, or, if noreferendum is required, adopting an ordinance or resolution authorizing theissuance of bonds for school purposes, the school board of the county mustfirst request, by resolution, the governing body of the county to take suchaction.

If voter approval is not required by the Constitution of Virginia or theprovisions of this chapter, the governing body of the county has all thepowers granted by this chapter to the governing bodies of municipalities withrespect to incurring debt and issuing bonds.

(Code 1950, § 15-666.29; 1958, c. 640; 1960, c. 563; 1962, c. 623, §15.1-186; 1971, Ex. Sess., c. 224; 1980, c. 559; 1989, c. 177; 1991, c. 668,§ 15.1-227.41; 1997, c. 587.)