A. A locality may appropriate funds to pay expenses associated with the tourism improvement district. A locality may appropriate funds to the administering nonprofit.
B. A locality may issue bonds and other obligations subject to the provisions of the Public Finance Act of 1991 (§ 15.2-2600 et seq.) for the purpose of funding the costs of the tourism improvement district plan. Principal and interest payments on such bonds may be paid from the proceeds of any fees imposed under this article.
C. No funds raised pursuant to this article shall be used by the locality for any purposes other than funding the expenses of the tourism improvement district.
2021, Sp. Sess. I, c. 500.
Structure Code of Virginia
Title 15.2 - Counties, Cities and Towns
Chapter 24 - Service Districts; Taxes and Assessments for Local Improvements
§ 15.2-2400. Creation of service districts
§ 15.2-2401. Creation of service districts by court order in consolidated cities
§ 15.2-2402. Description of proposed service district
§ 15.2-2402.1. Change to service district boundaries
§ 15.2-2403. Powers of service districts
§ 15.2-2403.1. Creation of urban transportation service districts
§ 15.2-2403.2. Virginia Wallops Research Park Leadership Council established
§ 15.2-2403.4. Community improvement districts
§ 15.2-2404. Authority to impose taxes or assessments for local improvements; purposes
§ 15.2-2406. How cost assessed or apportioned
§ 15.2-2408. Notice to landowner of amount of assessment
§ 15.2-2409. How notice given; objections
§ 15.2-2410. Appeal to court; duty of clerk of governing body, etc.
§ 15.2-2411. How such appeal tried; lien of judgment; when to take effect; how enforced
§ 15.2-2412. Docketing of abstracts of resolutions or ordinances
§ 15.2-2413. Installment payment of assessments
§ 15.2-2413.2. Filing of tourism improvement district plan
§ 15.2-2413.3. Petition for a proposed tourism improvement district
§ 15.2-2413.4. Hearing on a proposed tourism improvement district
§ 15.2-2413.5. Establishment or extension of the tourism improvement district
§ 15.2-2413.6. Local ordinances related to tourism improvement districts
§ 15.2-2413.7. Amendment to the tourism improvement district plan
§ 15.2-2413.9. Expenses of the tourism improvement district