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Virginia Law

Code of Virginia

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Chapter 26.
Public Finance Act
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  • Article 2.
    Provisions Applicable to All Bonds
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    • § 15.2-2604
    Powers generally
    § 15.2-2605
    Collection of rents and charges; liens on real estate; discharge and enforcement of liens
    § 15.2-2606
    Public hearing before issuance of bonds
    § 15.2-2607
    Provisions which may be embodied in bond ordinances or resolution; adoption; filing copy with court
    § 15.2-2608
    Bonds for revenue-producing undertakings
    § 15.2-2609
    Covenants relating to issuance of revenue bonds
    § 15.2-2610
    Request for referendum filed with court; order for election; notice
    § 15.2-2611
    Holding of election; order authorizing bonds; authority of governing body
    § 15.2-2612
    Dating; rate of interest; maturity; denomination; place of payment
    § 15.2-2613
    Form and manner of execution; signature of person ceasing to be officer
    § 15.2-2614
    Bearer, registered or book entry form
    § 15.2-2615
    Bonds deemed negotiable instruments
    § 15.2-2616
    Interim receipts or temporary bonds exchangeable for definitive bonds
    § 15.2-2617
    Sale of bonds
    § 15.2-2618
    Disposition of proceeds; separate fund
    § 15.2-2619
    Investment of proceeds pending application to authorized purpose
    § 15.2-2620
    Bonds made legal investments
    § 15.2-2621
    Bonds mutilated, lost or destroyed
    § 15.2-2622
    Destruction of bonds and coupons after payment in full
    § 15.2-2623
    Defeasance of indebtedness; rights of owners
    § 15.2-2624
    Tax to pay principal and interest
    § 15.2-2625
    Deposit of funds; security; investment of funds
    § 15.2-2626
    Contracts concerning interest rates, currency, cash flow or other basis
    § 15.2-2627
    Time for contesting validity of proposed bond issue; when bonds presumed valid
    § 15.2-2628
    Notes in anticipation of bond issue
    § 15.2-2629
    Loans to meet appropriations for current year
    § 15.2-2630
    Loans in anticipation of federal and state funds
    § 15.2-2631
    Terms of temporary loans
  • Article 3.
    Bonds Issued by Municipalities
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    • § 15.2-2632
    Certain debts that may be contracted by city on transition from town
    § 15.2-2633
    Borrowing by certain cities to pay expenses
    § 15.2-2634
    Limitation on amount of outstanding bonds
    § 15.2-2635
    What indebtedness not included in determining limitation
    § 15.2-2636
    Ordinance or resolution to provide for issue of bonds
    § 15.2-2637
    Danville to incur indebtedness only in accordance with charter
  • Article 5.
    Refunding Bonds
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    • § 15.2-2643
    Authority for issuance; resolutions or ordinances
    § 15.2-2644
    Issuance or exchange for indebtedness to be retired; sale and disposition of proceeds; rights of owners
    § 15.2-2645
    Amount of bonds
    § 15.2-2646
    Participation in funds donated by the Commonwealth
    § 15.2-2647
    Expenses of authorization and issuance; agent to assist in refunding transaction
    § 15.2-2648
    Purchase in open market
    § 15.2-2649
    District refunding bonds
  • Article 6.
    Judicial Determination of Validity of Bonds
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    • § 15.2-2650
    Article controlling as to proceedings involving validity
    § 15.2-2651
    Proceeding by political subdivision to establish validity; procedure; parties defendant
    § 15.2-2652
    Service by publication of motion for judgment; parties defendant
    § 15.2-2653
    Contesting issuance of bonds; notice and hearing; service on member of governing body, etc.
    § 15.2-2654
    Reply by party defendant; intervention by interested parties; determination of questions; orders; precedence over other business
    § 15.2-2655
    Consolidation of actions or proceedings
    § 15.2-2656
    Appeals
    § 15.2-2657
    Decree validating bonds binding and conclusive
    § 15.2-2658
    Bonds invalidated only for substantial defects, etc.; matters of form disregarded
  • Article 7.
    Miscellaneous
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    • § 15.2-2659
    Investigation by Governor of alleged defaults; withholding state funds from defaulting locality; payment of funds withheld; receipts, reports, etc.; magisterial and school district defaults included
    § 15.2-2660
    Bonds not affected by project undertaken
    § 15.2-2661
    Provisions of chapter controlling; powers conferred are additional
    § 15.2-2662
    Validation of bonds
    § 15.2-2663
    Transition