Virginia § 10.1-631 Annual tax for payment of interest or to amortize indebtedness or bonds

Virginia Statutes

§ 10.1-631 — Annual tax for payment of interest or to amortize indebtedness or bonds

Virginia § 10.1-631

JurisdictionVirginia

Title 10.1CONSERVATION

Subtitle IACTIVITIES ADMINISTERED BY THE DEPARTMENT OF CONSERVATION AND RECREATION

Ch. 6FLOOD PROTECTION AND DAM SAFETY

Art. 3WATERSHED IMPROVEMENTS DISTRICTS

This text of Virginia § 10.1-631 (Annual tax for payment of interest or to amortize indebtedness or bonds) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 10.1-631 (2026).

Text

The governing body of the watershed improvement district shall, if necessary to pay the interest on the indebtedness or bonds or to amortize such indebtedness or bonds, levy an annual tax or service charge in the manner prescribed by § 10.1-626 on all the real estate in the watershed improvement district subject to local taxation, to satisfy such obligations. This tax, irrespective of any approvals required pursuant to § 10.1-614, shall be sufficient to pay interest and to amortize such indebtedness or bonds at the times required.

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The governing body of the watershed improvement district shall, if necessary to pay the interest on the indebtedness or bonds or to amortize such indebtedness or bonds, levy an annual tax or service charge in the manner prescribed by § 10.1-626 on all the real estate in the watershed improvement district subject to local taxation, to satisfy such obligations. This tax, irrespective of any approvals required pursuant to § 10.1-614, shall be sufficient to pay interest and to amortize such indebtedness or bonds at the times required.