{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/15.2-2622.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/15.2-2622.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/15.2-2622.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/15.2-2622.html"}],"law_id":60422,"edition_id":1,"section_id":60422,"structure_id":14965,"section_number":"15.2-2622","catch_line":"Destruction of bonds and coupons after payment in full","history":"Code 1950, \u00a7 15-666.27:1; 1962, c. 310, \u00a7 15.1-184.1; 1966, c. 574; 1983, c. 30; 1991, c. 668, \u00a7 15.1-227.24; 1997, c. 587.","full_text":"A\n\nWhenever the fiscal agent for any locality pays in full any bonds representing an obligation of the locality, the fiscal agent may, by agreement with the locality, destroy the bond and certify the facts of the payment and destruction to the treasurer or director of finance, as the case may be, of the locality.B\n\nThe certification required by this section shall set forth the issue, series, number and maturity date of each bond, together with any additional facts as are necessary to specifically identify each bond paid and destroyed. However, the treasurer or director of finance may waive the requirement that the number of each interest coupon be supplied.C\n\nEvery certification shall be in such form as is prescribed by the Auditor of Public Accounts and shall be acknowledged in the manner prescribed by law for the acknowledgment of deeds.D\n\nWhenever any certification, appearing on its face to have been executed and acknowledged as prescribed by this section, has been delivered to the treasurer or director of finance of any locality by the fiscal agent, the treasurer or director of finance shall, in the absence of actual knowledge of any misrepresentation or irregularity as to the certification, be relieved of all further liability for all the bonds represented in the certificate to have been paid and destroyed. For accounting purposes, every such certification which appears on its face to have complied with the requirements of this section shall constitute sufficient evidence of the facts set forth in it.","order_by":null,"text":{"0":{"id":220945,"text":"Whenever the fiscal agent for any locality pays in full any bonds representing an obligation of the locality, the fiscal agent may, by agreement with the locality, destroy the bond and certify the facts of the payment and destruction to the treasurer or director of finance, as the case may be, of the locality.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":220946,"text":"The certification required by this section shall set forth the issue, series, number and maturity date of each bond, together with any additional facts as are necessary to specifically identify each bond paid and destroyed. However, the treasurer or director of finance may waive the requirement that the number of each interest coupon be supplied.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":220947,"text":"Every certification shall be in such form as is prescribed by the Auditor of Public Accounts and shall be acknowledged in the manner prescribed by law for the acknowledgment of deeds.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":220948,"text":"Whenever any certification, appearing on its face to have been executed and acknowledged as prescribed by this section, has been delivered to the treasurer or director of finance of any locality by the fiscal agent, the treasurer or director of finance shall, in the absence of actual knowledge of any misrepresentation or irregularity as to the certification, be relieved of all further liability for all the bonds represented in the certificate to have been paid and destroyed. For accounting purposes, every such certification which appears on its face to have complied with the requirements of this section shall constitute sufficient evidence of the facts set forth in it.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-2622\/","history_text":"<p>The record of this law\u2019s original creation isn\u2019t available online. It has been modified 5 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 1962, chapter 310; in 1966, chapter 574; in 1983, chapter 30; in 1991, chapter 668; in 1997, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?971+ful+CHAP0587\">587<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":156037,"object_type":"law","relational_id":60422,"identifier":"15.2-2622","token":"15.2\/II\/26\/2\/15.2-2622","url":"\/15.2-2622\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/15.2-2622\/","token":"15.2\/II\/26\/2\/15.2-2622","dublin_core":{"Title":"Destruction of bonds and coupons after payment in full","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-2622","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section id=\"A\"><p><span class=\"prefix-number\">A.<\/span> Whenever the fiscal agent for any <span class=\"dictionary\">locality<\/span> pays in full any <span class=\"dictionary\"><span class=\"dictionary\">bonds<\/span><\/span> representing an obligation of the <span class=\"dictionary\">locality<\/span>, the fiscal agent may, by agreement with the <span class=\"dictionary\">locality<\/span>, destroy the <span class=\"dictionary\">bond<\/span> and certify the <span class=\"dictionary\">facts<\/span> of the payment and destruction to the treasurer or director of finance, as the case may be, of the <span class=\"dictionary\">locality<\/span>. <a id=\"paragraph-220945\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/15.2-2622\/#A\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B\"><p><span class=\"prefix-number\">B.<\/span> The certification required by this section shall set forth the <span class=\"dictionary\">issue<\/span>, series, number and maturity date of each <span class=\"dictionary\">bond<\/span>, together with any additional <span class=\"dictionary\">facts<\/span> as are necessary to specifically identify each <span class=\"dictionary\">bond<\/span> paid and destroyed. However, the treasurer or director of finance may <span class=\"dictionary\">waive<\/span> the requirement that the number of each interest coupon be supplied. <a id=\"paragraph-220946\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/15.2-2622\/#B\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"C\"><p><span class=\"prefix-number\">C.<\/span> Every certification shall be in such form as is prescribed by the Auditor of Public Accounts and shall be acknowledged in the manner prescribed by <span class=\"dictionary\">law<\/span> for the acknowledgment of deeds. <a id=\"paragraph-220947\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/15.2-2622\/#C\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"D\"><p><span class=\"prefix-number\">D.<\/span> Whenever any certification, appearing on its face to have been executed and acknowledged as prescribed by this section, has been delivered to the treasurer or director of finance of any <span class=\"dictionary\">locality<\/span> by the fiscal agent, the treasurer or director of finance shall, in the absence of actual knowledge of any misrepresentation or irregularity as to the certification, be relieved of all further liability for all the <span class=\"dictionary\"><span class=\"dictionary\">bonds<\/span><\/span> represented in the certificate to have been paid and destroyed. For accounting purposes, every such certification which appears on its face to have complied with the requirements of this section shall constitute sufficient <span class=\"dictionary\">evidence<\/span> of the <span class=\"dictionary\">facts<\/span> set forth in it. <a id=\"paragraph-220948\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/15.2-2622\/#D\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nDESTRUCTION OF BONDS AND COUPONS AFTER PAYMENT IN FULL (\u00a7 15.2-2622)\n\nA. Whenever the fiscal agent for any locality pays in full any bonds\nrepresenting an obligation of the locality, the fiscal agent may, by agreement\nwith the locality, destroy the bond and certify the facts of the payment and\ndestruction to the treasurer or director of finance, as the case may be, of the\nlocality.\n\nB. The certification required by this section shall set forth the issue, series,\nnumber and maturity date of each bond, together with any additional facts as are\nnecessary to specifically identify each bond paid and destroyed. However, the\ntreasurer or director of finance may waive the requirement that the number of\neach interest coupon be supplied.\n\nC. Every certification shall be in such form as is prescribed by the Auditor of\nPublic Accounts and shall be acknowledged in the manner prescribed by law for\nthe acknowledgment of deeds.\n\nD. Whenever any certification, appearing on its face to have been executed and\nacknowledged as prescribed by this section, has been delivered to the treasurer\nor director of finance of any locality by the fiscal agent, the treasurer or\ndirector of finance shall, in the absence of actual knowledge of any\nmisrepresentation or irregularity as to the certification, be relieved of all\nfurther liability for all the bonds represented in the certificate to have been\npaid and destroyed. For accounting purposes, every such certification which\nappears on its face to have complied with the requirements of this section shall\nconstitute sufficient evidence of the facts set forth in it.\n\nHISTORY: Code 1950, \u00a7 15-666.27:1; 1962, c. 310, \u00a7 15.1-184.1; 1966, c. 574;\n1983, c. 30; 1991, c. 668, \u00a7 15.1-227.24; 1997, c. 587.","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}}