Unless otherwise provided by agreement of the governing bodies of the city and county, or by order of the special court pursuant to § 15.2-4106, a town created under this chapter shall remain liable for all of the bonded indebtedness, current debts, obligations, and liabilities if incurred as a city. Unless otherwise provided by agreement of the governing bodies of the city and county, or by order of the court pursuant to § 15.2-4106, the title to all of the real and personal property of the former city and all of its rights and privileges under any contract, and all of its books, records, papers and other things of value, shall vest in and become the property of the town.
1988, c. 881, § 15.1-965.23; 1997, c. 587.
Structure Code of Virginia
Title 15.2 - Counties, Cities and Towns
Chapter 41 - Transition of City to Town Status
§ 15.2-4100. City may change to town status
§ 15.2-4101. Ordinance petitioning court for town status; notice of motion
§ 15.2-4102. Citizen petition for town status
§ 15.2-4104. Time limit for intervenors; publication of order
§ 15.2-4105. Pretrial conference; matters considered
§ 15.2-4106. Hearing and decision by court
§ 15.2-4107. Assistance of state agencies
§ 15.2-4109. Declining a grant of town status
§ 15.2-4110. Proceedings final for five years
§ 15.2-4111. Effective date of transition
§ 15.2-4112. Charter for resulting town
§ 15.2-4113. Restriction on subsequent change in status
§ 15.2-4114. Liabilities and assets of such city
§ 15.2-4115. Effect when city becomes town; officers
§ 15.2-4115.1. Disposition of police department or sheriff's department motorcycles
§ 15.2-4116. Library aid continued
§ 15.2-4117. Temporary restriction on annexation
§ 15.2-4118. Effect on pending suits
§ 15.2-4119. Effect on jurisdiction of courts
§ 15.2-4120. Court granting transition to town status to exist for 10 years