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41 chapters · 805 sections in this title.
Va. Code Ann. § 22.1-161.1 Borrowing for capital projects for school purposes authorized
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In conformity with Article VII, Section 10 of the Constitution of Virginia, any school board is hereby authorized to contract to borrow money from the Virginia Retirement System for capital projects for school purposes, with the approval of the governing body of each county and c…
Va. Code Ann. § 22.1-161.2 Resolution by school board; approval or rejection by governing body; indebtedness evidenced by bonds
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Whenever a school board desires to contract with the Board of Trustees of the Virginia Retirement System to borrow money for capital projects for school purposes, it shall adopt a resolution setting forth the purpose for which it is desired to borrow the money and the amount of s…
Va. Code Ann. § 22.1-161.3 Issuance of bonds; procedure; form and requirements
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Such bonds shall be issued by the school board in the name of the county, city or town. For the payment of the principal of and the interest on such bonds, the full faith and credit of the county, city or town shall be pledged. The bonds shall be signed by the chairman of the sch…
Disposition of proceeds from sale of bonds; separate fund
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All proceeds received from the sale of the bonds issued under the provisions of this chapter shall be paid to the treasurer or chief financial officer of the county, city or town, who shall promptly deposit such funds in a bank or banks as prescribed by general law. He shall acco…