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Code · Virginia · Title 15.2 · Chapter 51

Code of Virginia § 15.2-5159. Validation of creation of authorities; bonds issued.

95 words·~1 min read·/va/title-15-2/chapter-51/15-2-5159·

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All proceedings heretofore taken with respect to the creation of a community development authority by any locality pursuant to this chapter are hereby presumed to be valid and all such authorities are presumed to be legally created. All proceedings heretofore taken by any community development authority with respect to the authorization, issuance, sale, execution, delivery, and repayment of bonds by any community development authority are presumed to be valid, and any such bonds so issued are presumed valid and legal obligations of such community development authority, enforceable in accordance with law.
2009, c. 473 .
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