21-398 - Sale of bonds and disposition of proceeds. - Virginia Statutes

§ 21-398. Sale of bonds and disposition of proceeds.

The board of viewers, after widely advertising the sale of the bonds in suchpublications as they deem necessary, may sell the bonds upon the approval ofthe court or the judge thereof, to the highest bidder, or bidders, and devotethe proceeds to the payment for the work as it progresses, and to the paymentof the interest on the bonds for the three years next following the date ofissue, and to the payment of outstanding indebtedness and the other expensesof the project provided for in this chapter, including a reasonableattorney's fee to counsel for conducting the proceedings, the amount of suchfee to be fixed by the court.

(Code 1919, § 1774; 1920, p. 612; 1926, p. 623; 1954, c. 642.)