§ 15.2-2413.20 Expenses of the business improvement and recruitment district
A. A locality may appropriate funds to pay expenses associated with the business improvement and recruitment district.
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 business improvement and recruitment 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 business improvement and recruitment district.
History
This law was first created in 2023. The record of its establishment is cataloged in chapter 745 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year.
2023, c. 745.