LIS

Virginia Law

Code of Virginia

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Code of Virginia
Title 15.2. Counties, Cities and Towns
Chapter 24. Service Districts; Taxes and Assessments for Local Improvements
11/21/2024

§ 15.2-2413.20. Expenses of the business improvement and recruitment district.

A. A locality may appropriate funds to pay expenses associated with the business improvement and recruitment district.

B. A locality may issue bonds and other obligations subject to the provisions of the Public Finance Act of 1991 (§ 15.2-2600 et seq.) for the purpose of funding the costs of the business improvement and recruitment district plan. Principal and interest payments on such bonds may be paid from the proceeds of any fees imposed under this article.

C. No funds raised pursuant to this article shall be used by the locality for any purposes other than funding the expenses of the business improvement and recruitment district.

2023, c. 745.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.