{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/15.2-2632.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/15.2-2632.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/15.2-2632.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/15.2-2632.html"}],"law_id":72089,"edition_id":1,"section_id":72089,"structure_id":13708,"section_number":"15.2-2632","catch_line":"Certain debts that may be contracted by city on transition from town","history":"Code 1950, \u00a7 15-666.18:1; 1962, c. 558, \u00a7 15.1-175.1; 1991, c. 668, \u00a7 15.1-227.33; 1997, c. 587.","full_text":"Any city may, within one year from the date of its transition from a town to a city pursuant to the provisions of Chapter 38 (\u00a7 15.2-3800 et seq.) of this title, contract debts, borrow money, and authorize the issuance of its bonds in the principal amount of its proportionate share of all state, county, and district levies on property within the territory occupied by the city actually collected by the county treasurer pursuant to \u00a7 15.2-3828 in the year in which the transition takes place, and which does or would constitute credit against the amount of the assumption of county indebtedness by the city pursuant to \u00a7 15.2-3829.","order_by":null,"text":{"0":{"id":259750,"text":"Any city may, within one year from the date of its transition from a town to a city pursuant to the provisions of Chapter 38 (\u00a7 15.2-3800 et seq.) of this title, contract debts, borrow money, and authorize the issuance of its bonds in the principal amount of its proportionate share of all state, county, and district levies on property within the territory occupied by the city actually collected by the county treasurer pursuant to \u00a7 15.2-3828 in the year in which the transition takes place, and which does or would constitute credit against the amount of the assumption of county indebtedness by the city pursuant to \u00a7 15.2-3829.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13708,"edition_id":1,"name":"Bonds Issued by Municipalities","identifier":"3","label":"article","depth":4,"order_by":1,"parent_id":13707,"metadata":{},"date_created":"2026-06-26 03:45:37","date_modified":"2026-06-26 03:45:37","permalink":{"id":156077,"object_type":"structure","relational_id":13708,"identifier":"3","token":"15.2\/II\/26\/3","url":"\/15.2\/II\/26\/3\/","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 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limitation","url":"\/15.2-2635\/","token":"15.2\/II\/26\/3\/15.2-2635","metadata":false},{"id":75647,"structure_id":13708,"section_number":"15.2-2636","catch_line":"Ordinance or resolution to provide for issue of bonds","url":"\/15.2-2636\/","token":"15.2\/II\/26\/3\/15.2-2636","metadata":false},{"id":72977,"structure_id":13708,"section_number":"15.2-2637","catch_line":"Danville to incur indebtedness only in accordance with charter","url":"\/15.2-2637\/","token":"15.2\/II\/26\/3\/15.2-2637","metadata":false}],"next_section":{"id":81280,"structure_id":13708,"section_number":"15.2-2633","catch_line":"Borrowing by certain cities to pay expenses","url":"\/15.2-2633\/","token":"15.2\/II\/26\/3\/15.2-2633","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-2632\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 3 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 558; in 1991, chapter 668; in 1997, chapter 587<\/a>.<\/p>","references":[{"id":83529,"section_number":"15.2-2604","catch_line":"Powers generally","order_by":null,"url":"\/15.2-2604\/"}],"refers_to":[{"id":80368,"section_number":"15.2-3800","catch_line":"Ordinance petitioning court for city status; appointment of special court","order_by":null,"url":"\/15.2-3800\/"},{"id":61596,"section_number":"15.2-3828","catch_line":"State, county and district taxes accruing before transition; county sales and use tax becomes city sales and use tax","order_by":null,"url":"\/15.2-3828\/"},{"id":61008,"section_number":"15.2-3829","catch_line":"Assumption of debt; adjustment","order_by":null,"url":"\/15.2-3829\/"}],"permalink":{"id":156079,"object_type":"law","relational_id":72089,"identifier":"15.2-2632","token":"15.2\/II\/26\/3\/15.2-2632","url":"\/15.2-2632\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/15.2-2632\/","token":"15.2\/II\/26\/3\/15.2-2632","dublin_core":{"Title":"Certain debts that may be contracted by city on transition from town","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-2632","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Any city<\/span> may, within one year from the date of its transition from a town<\/span> to a city<\/span> pursuant to the provisions of Chapter 38 (\u00a7 15.2-3800<\/a> et seq.) of this title, contract<\/span> debts, borrow money, and authorize the issuance of its bonds<\/span><\/span> in the principal amount of its proportionate share of all state, county<\/span>, and district levies on property within the territory occupied by the city<\/span> actually collected by the county<\/span> treasurer pursuant to \u00a7 15.2-3828<\/a> in the year in which the transition takes place, and which does or would constitute credit against the amount of the assumption of county<\/span> indebtedness by the city<\/span> pursuant to \u00a7 15.2-3829<\/a>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCERTAIN DEBTS THAT MAY BE CONTRACTED BY CITY ON TRANSITION FROM TOWN (\u00a7\n15.2-2632)\n\nAny city may, within one year from the date of its transition from a town to a\ncity pursuant to the provisions of Chapter 38 (\u00a7 15.2-3800 et seq.) of this\ntitle, contract debts, borrow money, and authorize the issuance of its bonds in\nthe principal amount of its proportionate share of all state, county, and\ndistrict levies on property within the territory occupied by the city actually\ncollected by the county treasurer pursuant to \u00a7 15.2-3828 in the year in which\nthe transition takes place, and which does or would constitute credit against\nthe amount of the assumption of county indebtedness by the city pursuant to \u00a7\n15.2-3829.\n\nHISTORY: Code 1950, \u00a7 15-666.18:1; 1962, c. 558, \u00a7 15.1-175.1; 1991, c. 668,\n\u00a7 15.1-227.33; 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}}