§ 2.2-5002 Power to issue obligations not to be denied because interest is subject to federal income taxation
The power of any governmental instrumentality, to issue or have issued on its behalf for authorized purposes, bonds, shall not be construed to be restricted or limited solely because the interest thereon is subject, in whole or in part, directly or indirectly, to federal income taxes.
History
This law was first created in 1986. The record of its establishment is cataloged in chapter 137 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. Unfortunately, the 1986 “Acts” aren’t available online. It has been modified 1 time. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. That modification is as follows: in 2001, chapter 844.
1986, c. 137, § 2.1-326.2:1; 2001, c. 844.