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 § 21-417

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

Ch. 6DRAINAGE PROJECTS

This text of Virginia § 21-417 (Additional assessments to pay principal and interest on refunding 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. § 21-417 (2026).

Text

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.

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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.