Virginia § 21-417 Additional assessments to pay principal and interest on refunding bonds

Virginia Statutes

§ 21-417 — Additional assessments to pay principal and interest on refunding bonds

Virginia·Title 21 DRAINAGE, SOIL CONSERVATION, SANITATION AND PUBLIC FACILITIES DISTRICTS·Ch. 6 DRAINAGE PROJECTS

If the proceeds of the assessments levied for the payment of the original bonds shall at any time prove insufficient to pay principal of and interest on such refunding bonds, or if it shall at any time appear to the board of viewers that there is likelihood of the insufficiency of such assessments, the board shall provide for the levy and collection of additional assessments sufficient for such purpose and the holder or holders of refunding bonds issued hereunder shall have a right of action to compel such levy in the manner provided in this chapter.

Free access — add to your briefcase to read the full text and ask questions with AI

If the proceeds of the assessments levied for the payment of the original bonds shall at any time prove insufficient to pay principal of and interest on such refunding bonds, or if it shall at any time appear to the board of viewers that there is likelihood of the insufficiency of such assessments, the board shall provide for the levy and collection of additional assessments sufficient for such purpose and the holder or holders of refunding bonds issued hereunder shall have a right of action to compel such levy in the manner provided in this chapter.

Virginia § 21-417 (Additional assessments to pay principal and interest on refunding bonds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.