58.1-3006 - Additional tax to pay interest and retire bonds. - Virginia Statutes

§ 58.1-3006. Additional tax to pay interest and retire bonds.

The cities and towns of this Commonwealth, by their duly constitutedauthorities, are hereby authorized annually to levy, in addition to any otherlevies authorized by law, a special levy upon such taxable property in suchcities and towns as is not, by law, segregated to the Commonwealth fortaxation, or withheld from city or town taxation, at a rate not in conflictwith general law, for the purpose of providing a sinking fund or to pay theprincipal and interest of their bonded indebtedness, as and when the samebecome due and payable. All charters of any city or town are hereby repealedinsofar as they are in conflict herewith.

(Code 1950, § 58-846; 1984, c. 675.)