Virginia § 2.2-5001 Manner of exercising authority

Virginia Statutes

§ 2.2-5001 — Manner of exercising authority

Virginia § 2.2-5001

JurisdictionVirginia

Title 2.2ADMINISTRATION OF GOVERNMENT

Subtitle IIADMINISTRATION OF STATE GOVERNMENT

Ch. 50INTEREST ON CERTAIN OBLIGATIONS OF GOVERNMENT INSTRUMENTALITIES

Part BTRANSACTION OF PUBLIC BUSINESS

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Bluebook

Va. Code Ann. § 2.2-5001 (2026).

Text

The authority vested in governmental instrumentalities under the provisions of this chapter may be exercised by the body authorized to issue such bonds without securing the further approval of any other body, board or agency that may have approved the issuance of such bonds and, in the case of bonds approved by election, without a further election, unless a lower maximum rate of interest was stated in the approval of such other body, board or agency or was stated on the ballot of such election.

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The authority vested in governmental instrumentalities under the provisions of this chapter may be exercised by the body authorized to issue such bonds without securing the further approval of any other body, board or agency that may have approved the issuance of such bonds and, in the case of bonds approved by election, without a further election, unless a lower maximum rate of interest was stated in the approval of such other body, board or agency or was stated on the ballot of such election.