21-417 - Additional assessments to pay principal and interest on refunding bonds. - Virginia Statutes

§ 21-417. Additional assessments to pay principal and interest on refundingbonds.

If the proceeds of the assessments levied for the payment of the originalbonds shall at any time prove insufficient to pay principal of and intereston such refunding bonds, or if it shall at any time appear to the board ofviewers that there is likelihood of the insufficiency of such assessments,the board shall provide for the levy and collection of additional assessmentssufficient for such purpose and the holder or holders of refunding bondsissued hereunder shall have a right of action to compel such levy in themanner provided in this chapter.

(1934, p. 4; Michie Code 1942, § 1777a; 1954, c. 642.)