{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/15.2-2606.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/15.2-2606.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/15.2-2606.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/15.2-2606.html"}],"law_id":64803,"edition_id":1,"section_id":64803,"structure_id":14965,"section_number":"15.2-2606","catch_line":"Public hearing before issuance of bonds","history":"1987, c. 402, \u00a7 15.1-171.1; 1990, c. 175; 1991, c. 668, \u00a7 15.1-227.8; 1994, c. 714; 1997, c. 587; 2011, c. 590; 2023, cc. 506, 507; 2024, cc. 225, 242.","full_text":"A\n\nNotwithstanding any contrary provision of law, general or special, but subject to subsection B of this section, before the final authorization of the issuance of any bonds by a locality, the governing body of the locality shall hold a public hearing on the proposed bond issue. Notice of the hearing shall be published twice in a newspaper published or having general circulation in the locality, with the first notice appearing no more than 28 days before and the second notice appearing no less than seven days before the hearing. The notice shall (i) state the estimated maximum amount of the bonds proposed to be issued, (ii) state the proposed use of the bond proceeds, and if there is more than one use, state the proposed uses for which more than 10 percent of the total bond proceeds is expected to be used, and (iii) specify the time and place of the hearing at which persons may appear and present their views.B\n\nNo notice or public hearing shall be required for (i) bonds which have been approved by a majority of the voters of the issuing locality voting on the issuance of such bonds or (ii) obligations issued pursuant to § 15.2-2629, 15.2-2630 or 15.2-2643.","order_by":null,"text":{"0":{"id":235815,"text":"Notwithstanding any contrary provision of law, general or special, but subject to subsection B of this section, before the final authorization of the issuance of any bonds by a locality, the governing body of the locality shall hold a public hearing on the proposed bond issue. Notice of the hearing shall be published twice in a newspaper published or having general circulation in the locality, with the first notice appearing no more than 28 days before and the second notice appearing no less than seven days before the hearing. The notice shall (i) state the estimated maximum amount of the bonds proposed to be issued, (ii) state the proposed use of the bond proceeds, and if there is more than one use, state the proposed uses for which more than 10 percent of the total bond proceeds is expected to be used, and (iii) specify the time and place of the hearing at which persons may appear and present their views.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":235816,"text":"No notice or public hearing shall be required for (i) bonds which have been approved by a majority of the voters of the issuing locality voting on the issuance of such bonds or (ii) obligations issued pursuant to § 15.2-2629, 15.2-2630 or 15.2-2643.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":14965,"edition_id":1,"name":"Provisions Applicable to All Bonds","identifier":"2","label":"article","depth":4,"order_by":1,"parent_id":13707,"metadata":{},"date_created":"2026-06-26 03:51:09","date_modified":"2026-06-26 03:51:09","permalink":{"id":155963,"object_type":"structure","relational_id":14965,"identifier":"2","token":"15.2\/II\/26\/2","url":"\/15.2\/II\/26\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13707,"edition_id":1,"name":"Public Finance Act","identifier":"26","label":"chapter","depth":3,"order_by":1,"parent_id":12733,"metadata":{},"date_created":"2026-06-26 03:45:37","date_modified":"2026-06-26 03:45:37","permalink":{"id":155943,"object_type":"structure","relational_id":13707,"identifier":"26","token":"15.2\/II\/26","url":"\/15.2\/II\/26\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12733,"edition_id":1,"name":"Powers of Local Government","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12720,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":152369,"object_type":"structure","relational_id":12733,"identifier":"II","token":"15.2\/II","url":"\/15.2\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12720,"edition_id":1,"name":"Counties, Cities and Towns","identifier":"15.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":151279,"object_type":"structure","relational_id":12720,"identifier":"15.2","token":"15.2","url":"\/15.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":83529,"structure_id":14965,"section_number":"15.2-2604","catch_line":"Powers generally","url":"\/15.2-2604\/","token":"15.2\/II\/26\/2\/15.2-2604","metadata":false},{"id":85999,"structure_id":14965,"section_number":"15.2-2605","catch_line":"Collection of rents and charges; liens on real estate; discharge and enforcement of liens","url":"\/15.2-2605\/","token":"15.2\/II\/26\/2\/15.2-2605","metadata":false},{"id":64803,"structure_id":14965,"section_number":"15.2-2606","catch_line":"Public hearing before issuance of bonds","url":"\/15.2-2606\/","token":"15.2\/II\/26\/2\/15.2-2606","metadata":false},{"id":60104,"structure_id":14965,"section_number":"15.2-2607","catch_line":"Provisions which may be embodied in bond ordinances or resolution; adoption; filing copy with court","url":"\/15.2-2607\/","token":"15.2\/II\/26\/2\/15.2-2607","metadata":false},{"id":61638,"structure_id":14965,"section_number":"15.2-2608","catch_line":"Bonds for revenue-producing undertakings","url":"\/15.2-2608\/","token":"15.2\/II\/26\/2\/15.2-2608","metadata":false},{"id":58186,"structure_id":14965,"section_number":"15.2-2609","catch_line":"Covenants relating to issuance of revenue bonds","url":"\/15.2-2609\/","token":"15.2\/II\/26\/2\/15.2-2609","metadata":false},{"id":59146,"structure_id":14965,"section_number":"15.2-2610","catch_line":"Request for referendum filed with court; order for election; notice","url":"\/15.2-2610\/","token":"15.2\/II\/26\/2\/15.2-2610","metadata":false},{"id":73440,"structure_id":14965,"section_number":"15.2-2611","catch_line":"Holding of election; order authorizing bonds; authority of governing body","url":"\/15.2-2611\/","token":"15.2\/II\/26\/2\/15.2-2611","metadata":false},{"id":75201,"structure_id":14965,"section_number":"15.2-2612","catch_line":"Dating; rate of interest; maturity; denomination; place of payment","url":"\/15.2-2612\/","token":"15.2\/II\/26\/2\/15.2-2612","metadata":false},{"id":73286,"structure_id":14965,"section_number":"15.2-2613","catch_line":"Form and manner of execution; signature of person ceasing to be officer","url":"\/15.2-2613\/","token":"15.2\/II\/26\/2\/15.2-2613","metadata":false},{"id":70278,"structure_id":14965,"section_number":"15.2-2614","catch_line":"Bearer, registered or book entry form","url":"\/15.2-2614\/","token":"15.2\/II\/26\/2\/15.2-2614","metadata":false},{"id":65731,"structure_id":14965,"section_number":"15.2-2615","catch_line":"Bonds deemed negotiable instruments","url":"\/15.2-2615\/","token":"15.2\/II\/26\/2\/15.2-2615","metadata":false},{"id":67880,"structure_id":14965,"section_number":"15.2-2616","catch_line":"Interim receipts or temporary bonds exchangeable for definitive bonds","url":"\/15.2-2616\/","token":"15.2\/II\/26\/2\/15.2-2616","metadata":false},{"id":66232,"structure_id":14965,"section_number":"15.2-2617","catch_line":"Sale of bonds","url":"\/15.2-2617\/","token":"15.2\/II\/26\/2\/15.2-2617","metadata":false},{"id":86877,"structure_id":14965,"section_number":"15.2-2618","catch_line":"Disposition of proceeds; separate fund","url":"\/15.2-2618\/","token":"15.2\/II\/26\/2\/15.2-2618","metadata":false},{"id":65883,"structure_id":14965,"section_number":"15.2-2619","catch_line":"Investment of proceeds pending application to authorized purpose","url":"\/15.2-2619\/","token":"15.2\/II\/26\/2\/15.2-2619","metadata":false},{"id":74470,"structure_id":14965,"section_number":"15.2-2620","catch_line":"Bonds made legal investments","url":"\/15.2-2620\/","token":"15.2\/II\/26\/2\/15.2-2620","metadata":false},{"id":58244,"structure_id":14965,"section_number":"15.2-2621","catch_line":"Bonds mutilated, lost or destroyed","url":"\/15.2-2621\/","token":"15.2\/II\/26\/2\/15.2-2621","metadata":false},{"id":60422,"structure_id":14965,"section_number":"15.2-2622","catch_line":"Destruction of bonds and coupons after payment in full","url":"\/15.2-2622\/","token":"15.2\/II\/26\/2\/15.2-2622","metadata":false},{"id":85499,"structure_id":14965,"section_number":"15.2-2623","catch_line":"Defeasance of indebtedness; rights of owners","url":"\/15.2-2623\/","token":"15.2\/II\/26\/2\/15.2-2623","metadata":false},{"id":65050,"structure_id":14965,"section_number":"15.2-2624","catch_line":"Tax to pay principal and interest","url":"\/15.2-2624\/","token":"15.2\/II\/26\/2\/15.2-2624","metadata":false},{"id":82735,"structure_id":14965,"section_number":"15.2-2625","catch_line":"Deposit of funds; security; investment of funds","url":"\/15.2-2625\/","token":"15.2\/II\/26\/2\/15.2-2625","metadata":false},{"id":64166,"structure_id":14965,"section_number":"15.2-2626","catch_line":"Contracts concerning interest rates, currency, cash flow or other basis","url":"\/15.2-2626\/","token":"15.2\/II\/26\/2\/15.2-2626","metadata":false},{"id":64379,"structure_id":14965,"section_number":"15.2-2627","catch_line":"Time for contesting validity of proposed bond issue; when bonds presumed valid","url":"\/15.2-2627\/","token":"15.2\/II\/26\/2\/15.2-2627","metadata":false},{"id":77140,"structure_id":14965,"section_number":"15.2-2628","catch_line":"Notes in anticipation of bond issue","url":"\/15.2-2628\/","token":"15.2\/II\/26\/2\/15.2-2628","metadata":false},{"id":57094,"structure_id":14965,"section_number":"15.2-2629","catch_line":"Loans to meet appropriations for current year","url":"\/15.2-2629\/","token":"15.2\/II\/26\/2\/15.2-2629","metadata":false},{"id":71319,"structure_id":14965,"section_number":"15.2-2630","catch_line":"Loans in anticipation of federal and state funds","url":"\/15.2-2630\/","token":"15.2\/II\/26\/2\/15.2-2630","metadata":false},{"id":71705,"structure_id":14965,"section_number":"15.2-2631","catch_line":"Terms of temporary loans","url":"\/15.2-2631\/","token":"15.2\/II\/26\/2\/15.2-2631","metadata":false}],"previous_section":{"id":85999,"structure_id":14965,"section_number":"15.2-2605","catch_line":"Collection of rents and charges; liens on real estate; discharge and enforcement of liens","url":"\/15.2-2605\/","token":"15.2\/II\/26\/2\/15.2-2605","metadata":false},"next_section":{"id":60104,"structure_id":14965,"section_number":"15.2-2607","catch_line":"Provisions which may be embodied in bond ordinances or resolution; adoption; filing copy with court","url":"\/15.2-2607\/","token":"15.2\/II\/26\/2\/15.2-2607","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-2606\/","history_text":"

This law was first created in 1987. The record of its establishment is cataloged in chapter 402 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1987 \u201cActs\u201d aren\u2019t available online. It has been modified 7 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1990, chapter 175; in 1991, chapter 668; in 1994, chapter 714<\/a>; in 1997, chapter 587<\/a>; in 2011, chapter 590<\/a>; in 2023, chapters 506<\/a> and 507<\/a>; in 2024, chapters 225<\/a> and 242<\/a>.<\/p>","references":false,"refers_to":[{"id":57094,"section_number":"15.2-2629","catch_line":"Loans to meet appropriations for current year","order_by":null,"url":"\/15.2-2629\/"},{"id":71319,"section_number":"15.2-2630","catch_line":"Loans in anticipation of federal and state funds","order_by":null,"url":"\/15.2-2630\/"},{"id":81286,"section_number":"15.2-2643","catch_line":"Authority for issuance; resolutions or ordinances","order_by":null,"url":"\/15.2-2643\/"}],"permalink":{"id":155973,"object_type":"law","relational_id":64803,"identifier":"15.2-2606","token":"15.2\/II\/26\/2\/15.2-2606","url":"\/15.2-2606\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/15.2-2606\/","token":"15.2\/II\/26\/2\/15.2-2606","dublin_core":{"Title":"Public hearing before issuance of bonds","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-2606","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Notwithstanding any contrary provision of law<\/span>, general or special, but subject to subsection B of this section, before the final authorization of the issuance of any bonds<\/span><\/span> by a locality<\/span>, the governing body<\/span> of the locality<\/span> shall hold a public hearing<\/span> on the proposed bond<\/span> issue<\/span>. Notice of the hearing<\/span> shall be published twice in a newspaper published or having general circulation in the locality<\/span>, with the first notice appearing no more than 28 days before and the second notice appearing no less than seven days before the hearing<\/span>. The notice shall (i) state the estimated maximum amount of the bonds<\/span><\/span> proposed to be issued, (ii) state the proposed use of the bond<\/span> proceeds, and if there is more than one use, state the proposed uses for which more than 10 percent of the total bond<\/span> proceeds is expected to be used, and (iii) specify the time and place of the hearing<\/span> at which persons may appear and present their views. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> No notice or public hearing<\/span> shall be required for (i) bonds<\/span><\/span> which have been approved by a majority of the voters<\/span> of the issuing locality<\/span> voting on the issuance of such bonds<\/span><\/span> or (ii) obligations issued pursuant to § 15.2-2629<\/a>, 15.2-2630<\/a> or 15.2-2643<\/a>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPUBLIC HEARING BEFORE ISSUANCE OF BONDS (\u00a7 15.2-2606)\n\nA. Notwithstanding any contrary provision of law, general or special, but\nsubject to subsection B of this section, before the final authorization of the\nissuance of any bonds by a locality, the governing body of the locality shall\nhold a public hearing on the proposed bond issue. Notice of the hearing shall be\npublished twice in a newspaper published or having general circulation in the\nlocality, with the first notice appearing no more than 28 days before and the\nsecond notice appearing no less than seven days before the hearing. The notice\nshall (i) state the estimated maximum amount of the bonds proposed to be issued,\n(ii) state the proposed use of the bond proceeds, and if there is more than one\nuse, state the proposed uses for which more than 10 percent of the total bond\nproceeds is expected to be used, and (iii) specify the time and place of the\nhearing at which persons may appear and present their views.\n\nB. No notice or public hearing shall be required for (i) bonds which have been\napproved by a majority of the voters of the issuing locality voting on the\nissuance of such bonds or (ii) obligations issued pursuant to § 15.2-2629,\n15.2-2630 or 15.2-2643.\n\nHISTORY: 1987, c. 402, \u00a7 15.1-171.1; 1990, c. 175; 1991, c. 668, \u00a7 15.1-227.8;\n1994, c. 714; 1997, c. 587; 2011, c. 590; 2023, cc. 506, 507; 2024, cc. 225,\n242.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}