Virginia § 21-412 When refunding bonds may be issued

Virginia Statutes

§ 21-412 — When refunding bonds may be issued

Virginia § 21-412

Title 21DRAINAGE, SOIL CONSERVATION, SANITATION AND PUBLIC FACILITIES DISTRICTS

Ch. 6DRAINAGE PROJECTS

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Bluebook

Va. Code Ann. § 21-412 (2026).

Text

When any drainage project operating under the provisions of this chapter shall have bonds outstanding, either due or to become due, and when it shall seem to the board of viewers having jurisdiction over such drainage project that it is to the best interest of such drainage project to refund such outstanding bonds in whole or in part, such board of viewers is hereby authorized to refund all or part of such outstanding bonds by the issuance of the negotiable refunding bonds of such project.

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When any drainage project operating under the provisions of this chapter shall have bonds outstanding, either due or to become due, and when it shall seem to the board of viewers having jurisdiction over such drainage project that it is to the best interest of such drainage project to refund such outstanding bonds in whole or in part, such board of viewers is hereby authorized to refund all or part of such outstanding bonds by the issuance of the negotiable refunding bonds of such project.