2.2-5001 - Manner of exercising authority. - Virginia Statutes

§ 2.2-5001. Manner of exercising authority.

The authority vested in governmental instrumentalities under the provisionsof this chapter may be exercised by the body authorized to issue such bondswithout securing the further approval of any other body, board or agency thatmay have approved the issuance of such bonds and, in the case of bondsapproved by election, without a further election, unless a lower maximum rateof interest was stated in the approval of such other body, board or agency orwas stated on the ballot of such election.

(1970, c. 1, § 2.1-326.2; 1972, c. 735; 1974, cc. 82, 650; 1976, c. 522;2001, c. 844.)