15.2-2651 - Proceeding by political subdivision to establish validity; procedure; parties defendant. - Virginia Statutes

§ 15.2-2651. Proceeding by political subdivision to establish validity;procedure; parties defendant.

The governing body of any locality or other political subdivision, agency orinstrumentality of the Commonwealth or of any locality proposing to issuebonds may bring at any time a proceeding in any court of the county or cityhaving general jurisdiction and in which the issuer is located to establishthe validity of the bonds, the legality of all proceedings taken inconnection with the authorization or issuance of the bonds, the validity ofthe tax or other means provided for the payment of the bonds, and thevalidity of all pledges of revenues and of all covenants and provisions whichconstitute a part of the contract between the issuer and the owners of thebonds. The proceeding shall be brought by filing a motion for judgmentdescribing the bonds and the proceedings taken in connection with theirissuance and alleging that the bonds when issued shall be valid and legalobligations of the issuer. In the motion for judgment the taxpayers, propertyowners and citizens of the jurisdiction where the issuer is located,including nonresidents owning property in or subject to taxation by it, andall other persons interested in or affected in any way by the issuance of thebonds shall be made parties defendant.

(Code 1950, § 15-666.55; 1958, c. 640; 1962, c. 623, § 15.1-214; 1991, c.668, § 15.1-227.53; 1997, c. 587; 2003, c. 570.)