Virginia Code 15.2-7222: Appropriation by political subdivision
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Any political subdivision of the Commonwealth is authorized to provide services, to donate real or personal property, and to make appropriations to the Authority for the acquisition, construction, maintenance, and operation of the Authority’s facilities. Any such political subdivision is hereby authorized to issue its bonds, including general obligation bonds, in the manner provided in the Public Finance Act of 1991 (§ 15.2-2600 et seq.) or in any applicable municipal charter for the purpose of providing funds to be appropriated to the Authority, and such political subdivisions may enter into contracts obligating such bond proceeds to the Authority.
Terms Used In Virginia Code 15.2-7222
- Authority: means the BVU Authority created by entity conversion of Bristol Virginia Utilities by this chapter. See Virginia Code 15.2-7202
- Bonds: means any bonds, notes, debentures, bond acceptance notes, or other evidence of financial indebtedness either issued or assumed by the Authority pursuant to this chapter. See Virginia Code 15.2-7202
- Commonwealth: means the Commonwealth of Virginia. See Virginia Code 15.2-7202
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Personal property: All property that is not real property.
- Political subdivision: means , when referring to an entity other than the Authority, a locality, authority, or other public body of the Commonwealth or of any state in which the Authority does business. See Virginia Code 15.2-7202