SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
2020 SESSION
20103276DBe it enacted by the General Assembly of Virginia:
1. That § 2 of Chapter XVIII of Chapter 431 of the Acts of Assembly of 1950 is amended and reenacted as follows:
§ 2. Exemption.
The following bonds shall be exempted from the requirement to be approved by a referendum of voters:
(i) bonds (a) Bonds issued for improvements
to the construction, improvement, expansion, or replacement of [
existing ] public buildings or facilities; [ the city may replace existing
buildings or facilities on an alternative site; ]
(ii) bonds (b) Bonds not exceeding $10 million,
as adjusted for inflation based upon increases in the annual All Items Consumer
Price Index for Urban Consumers, as published by the U.S. Bureau of Labor
Statistics, issued for economic development purposes as determined by the city
council;
(iii) revenue (c) Revenue bonds;
(iv) refunding (d) Refunding bonds; and
(v) tax (e) Tax and revenue anticipation
obligations that mature within one year from the date of their issue.
Such bonds so excepted exempted may be issued
upon an affirmative vote of a majority of all members of city council.