Code of Virginia § 15.2-2601. Chapter not to affect general, special and local acts and charters under which bonds are issued or validated.
237 words·~1 min read·
/va/title-15-2/chapter-26/15-2-2601·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Unless expressly stated to the contrary nothing in this chapter repeals, amends, impairs or in any way affects
(i)any act under the provisions of which bonds have heretofore been issued and are outstanding as of June 30, 1991,
(ii)any act, general or special, validating bonds or any proceedings in connection with the issuance of bonds, or
(iii)any special rights, privileges, restrictions or limitations now contained in any locality's charter. Nothing in this chapter repeals, amends, impairs or in any way affects any of the provisions of any charter or special or local act authorizing or regulating the issuance of bonds by a locality. The provisions of this chapter are in addition to the powers conferred by any charter or special or local act, and a locality may issue bonds, at the election of its governing body, under either
(i)the provisions of this chapter without regard to the requirements, restrictions or other provisions contained in any charter or local or special act applicable to the locality or
(ii)the provisions of such charter or local or special act; however, after July 1, 1992, notwithstanding the foregoing, any referendum requirement for the issuance of bonds or debt limit contained in any charter or local or special act shall control over the provisions of this chapter.
Code 1950, § 15-666.14; 1958, c. 640; 1962, c. 623, § 15.1-171; 1991, c. 668, § 15.1-227.2; 1997, c. 587.