Virginia Code 15.2-2638: Powers of counties generally; approval of voters required.
A. Except as provided in subsection B of this section, no county has the power to contract any debt or to issue its bonds unless a majority of the voters of the county voting on the question at an election held in accordance with §§ 15.2-2610 and 15.2-2611 approve contracting the debt, borrowing the money and issuing the bonds.
Terms Used In Virginia Code 15.2-2638
- Contract: A legal written agreement that becomes binding when signed.
- County: means any existing county or such unit hereafter created. See Virginia Code 15.2-102
- governing body: includes both or all of them. See Virginia Code 15.2-2602
- state agency: means the same as that term is defined in § Virginia Code 1-206
- Voter: means a qualified voter as defined in § Virginia Code 15.2-102
B. Voter approval is not required for a county (i) to contract debt or to issue bonds described in Article VII, Section 10(a)(1) and (3) of the Constitution of Virginia, (ii) to issue refunding bonds, or (iii) to issue bonds, with the consent of the school board and the governing body of the county, for capital projects for school purposes which are sold to the Literary Fund, the Virginia Retirement System, or other state agency prescribed by law.
Code 1950, § 15-666.28; 1958, c. 640; 1962, c. 623, § 15.1-185; 1971, Ex. Sess., c. 224; 1991, c. 668, § 15.1-227.39; 1997, c. 587.