Code of Virginia
Chapter 2 - Sanitary Districts
§ 21-122. Authority to issue bonds; limitation of amount

The governing body of any county in which a sanitary district has been or may hereafter be created by general or special law shall have power, subject to the conditions and limitations of this article, to issue bonds of such sanitary district to an amount in the aggregate of not exceeding eighteen per centum of the assessed value of all real estate in the district subject to local taxation, for the purpose of raising the necessary funds to carry into effect any or all of the purposes specified in Article 1 (§ 21-112.22 et seq.) of Chapter 2 of Title 21, provided, however, that such limitation of eighteen per centum shall not apply if the petition required by § 21-123 states the maximum amount of bonds to be issued, and if such bonds are to be issued for a specific undertaking from which the sanitary district may derive revenue, but from and after a period to be determined by the governing body of the county, not exceeding five years from the date of the election authorized in § 21-123, whenever and for so long as such undertaking fails to produce sufficient revenue to pay the cost of operation and administration (including interest on bonds issued therefor), and the cost of insurance against loss by injury to persons or property, and an annual amount to be covered into a sinking fund sufficient to pay, at or before maturity, all bonds issued on account of such undertaking, all such bonds outstanding shall be included in determining such limitation.
1946, p. 180; Michie Suppl. 1946, § 1560z1; 1964, c. 165.

Structure Code of Virginia

Code of Virginia

Title 21 - Drainage, Soil Conservation, Sanitation and Public Facilities Districts

Chapter 2 - Sanitary Districts

§ 21-112.22. Definitions

§ 21-113. Creation; inclusion of town in new or enlarged district

§ 21-114. Hearing and notice thereof

§ 21-115. Answer and defense

§ 21-116. Enlargement of sanitary districts

§ 21-116.1. Alteration of boundaries or reduction of area of sanitary districts in certain counties

§ 21-117. Merger of sanitary districts

§ 21-117.1. Abolishing sanitary districts

§ 21-118. Powers and duties of governing body

§ 21-118.1. Authority to acquire property from United States or any agency thereof

§ 21-118.2. Certain counties authorized to use sanitary district funds for certain purposes

§ 21-118.3. Levy and expenditure of taxes in certain counties; validation of expenditures

§ 21-118.4. Certain additional powers of governing body

§ 21-118.5. Unified water supply and sewerage systems for counties and sanitary districts; power of county governing body to fix rates; application of Public Finance Act

§ 21-118.6. Same; application of revenues; tax levy where revenues insufficient

§ 21-118.7. Same; payment to county of revenues held by district

§ 21-118.8. Same; ratification of prior agreements

§ 21-119. Sanitary districts are special taxing districts; nature of improvements; jurisdiction of governing bodies, etc., not affected

§ 21-119.1. Transfer of certain sanitary districts to towns

§ 21-120. In certain cities and counties

§ 21-121. Validation of proceedings

§ 21-121.1. Further validation of proceedings

§ 21-121.2. Additional validation of proceedings

§ 21-121.2:1. Same; bond issues

§ 21-121.3. Powers of districts created under other laws

§ 21-121.4. Powers of boards of supervisors and other governing bodies of counties with respect to sanitary districts

§ 21-121.5. Validation of certain actions

§ 21-121.6. Sanitary districts in certain counties with a water and sewer authority

§ 21-122. Authority to issue bonds; limitation of amount

§ 21-122.1. Bonds for special purpose; no election required

§ 21-123. Order requiring election

§ 21-124. Conduct of election; canvass of returns, etc.

§ 21-125. Procedure after election

§ 21-126. Inquiry into election and returns

§ 21-127. Amount of bonds

§ 21-127.1. Borrowing in anticipation of bond issue

§ 21-128. Failure or refusal to issue bonds

§ 21-129. Agents for sale of bonds

§ 21-130. Form of bonds

§ 21-130.1. Bonds mutilated, lost or destroyed

§ 21-131. Delivery to treasurer

§ 21-132. Liability of treasurer

§ 21-133. Cost of giving surety on additional bond or bonds required

§ 21-134. Deposit of proceeds

§ 21-134.01. Allocation of county funds to sanitary districts

§ 21-134.1. Reimbursement of county for advances to sanitary district

§ 21-134.2. Validation of advances to sanitary district

§ 21-135. Insolvency of depository

§ 21-136. Bond of depository

§ 21-137. Repealed

§ 21-137.1. Payment of interest on and maintenance of sinking fund for term bonds; tax levy; what constitutes "term bonds" and "serial bonds."

§ 21-137.2. Payment of interest on serial bonds; no sinking fund required; tax levy; use of excess revenues

§ 21-138. Same; levy of tax

§ 21-139. Laws continued in effect

§ 21-140. Validation of proceedings

§ 21-140.1. Further validation of proceedings

§ 21-140.2. Additional validation of proceedings

§ 21-140.3. Validation of certain bonds