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Virginia Law

Code of Virginia

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Code of Virginia
Title 21. Drainage, Soil Conservation, Sanitation and Public Facilities Districts
Chapter 6. Drainage Projects
11/22/2024

§ 21-416. Collection of assessments on retired bonds.

All uncollected assessments levied for payment of principal of and interest on bonds of such project refunded and retired by the issuance of refunding bonds hereunder may be continued in force, and the proceeds of the collection thereof pledged and applied to the payment of principal of and interest on the refunding bonds issued in lieu of such original bonds, and if the outstanding bonds are retired at less than their par value in such manner as to reduce the bonded indebtedness of the project the assessments theretofore levied for the payment of such indebtedness may in the discretion of the board of viewers be proportionately reduced.

1934, p. 4; Michie Code 1942, § 1777a; 1954, c. 642.

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.