{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/15.2-2645.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/15.2-2645.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/15.2-2645.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/15.2-2645.html"}],"law_id":78725,"edition_id":1,"section_id":78725,"structure_id":16241,"section_number":"15.2-2645","catch_line":"Amount of bonds","history":"Code 1950, \u00a7 15-666.35; 1958, c. 640; 1962, c. 623, \u00a7 15.1-194; 1977, c. 442; 1991, c. 668, \u00a7 15.1-227.47; 1997, c. 587.","full_text":"No refunding bonds shall be issued in a principal amount exceeding that necessary to amortize the principal of and premium, if any, and interest on the bonds to be refunded and pay all expenses reasonably incurred in the issuance of the refunding bonds less the amount then in any sinking, escrow and other funds which are available for the payment of the principal, premium, if any, or interest on the bonds to be refunded.","order_by":null,"text":{"0":{"id":282073,"text":"No refunding bonds shall be issued in a principal amount exceeding that necessary to amortize the principal of and premium, if any, and interest on the bonds to be refunded and pay all expenses reasonably incurred in the issuance of the refunding bonds less the amount then in any sinking, escrow and other funds which are available for the payment of the principal, premium, if any, or interest on the bonds to be refunded.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":16241,"edition_id":1,"name":"Refunding Bonds","identifier":"5","label":"article","depth":4,"order_by":1,"parent_id":13707,"metadata":{},"date_created":"2026-06-26 04:10:46","date_modified":"2026-06-26 04:10:46","permalink":{"id":156125,"object_type":"structure","relational_id":16241,"identifier":"5","token":"15.2\/II\/26\/5","url":"\/15.2\/II\/26\/5\/","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":81286,"structure_id":16241,"section_number":"15.2-2643","catch_line":"Authority for issuance; resolutions or ordinances","url":"\/15.2-2643\/","token":"15.2\/II\/26\/5\/15.2-2643","metadata":false},{"id":73131,"structure_id":16241,"section_number":"15.2-2644","catch_line":"Issuance or exchange for indebtedness to be retired; sale and disposition of proceeds; rights of owners","url":"\/15.2-2644\/","token":"15.2\/II\/26\/5\/15.2-2644","metadata":false},{"id":78725,"structure_id":16241,"section_number":"15.2-2645","catch_line":"Amount of bonds","url":"\/15.2-2645\/","token":"15.2\/II\/26\/5\/15.2-2645","metadata":false},{"id":73964,"structure_id":16241,"section_number":"15.2-2646","catch_line":"Participation in funds donated by the Commonwealth","url":"\/15.2-2646\/","token":"15.2\/II\/26\/5\/15.2-2646","metadata":false},{"id":65459,"structure_id":16241,"section_number":"15.2-2647","catch_line":"Expenses of authorization and issuance; agent to assist in refunding transaction","url":"\/15.2-2647\/","token":"15.2\/II\/26\/5\/15.2-2647","metadata":false},{"id":86780,"structure_id":16241,"section_number":"15.2-2648","catch_line":"Purchase in open market","url":"\/15.2-2648\/","token":"15.2\/II\/26\/5\/15.2-2648","metadata":false},{"id":86320,"structure_id":16241,"section_number":"15.2-2649","catch_line":"District refunding bonds","url":"\/15.2-2649\/","token":"15.2\/II\/26\/5\/15.2-2649","metadata":false}],"previous_section":{"id":73131,"structure_id":16241,"section_number":"15.2-2644","catch_line":"Issuance or exchange for indebtedness to be retired; sale and disposition of proceeds; rights of owners","url":"\/15.2-2644\/","token":"15.2\/II\/26\/5\/15.2-2644","metadata":false},"next_section":{"id":73964,"structure_id":16241,"section_number":"15.2-2646","catch_line":"Participation in funds donated by the Commonwealth","url":"\/15.2-2646\/","token":"15.2\/II\/26\/5\/15.2-2646","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-2645\/","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 1958, chapter 640; in 1962, chapter 623; in 1977, chapter 442; 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":156135,"object_type":"law","relational_id":78725,"identifier":"15.2-2645","token":"15.2\/II\/26\/5\/15.2-2645","url":"\/15.2-2645\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/15.2-2645\/","token":"15.2\/II\/26\/5\/15.2-2645","dublin_core":{"Title":"Amount of bonds","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-2645","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>No refunding <span class=\"dictionary\"><span class=\"dictionary\">bonds<\/span><\/span> shall be issued in a principal amount exceeding that necessary to amortize the principal of and premium, if any, and interest on the <span class=\"dictionary\"><span class=\"dictionary\">bonds<\/span><\/span> to be refunded and pay all expenses reasonably incurred in the issuance of the refunding <span class=\"dictionary\"><span class=\"dictionary\">bonds<\/span><\/span> less the amount then in any sinking, escrow and other funds which are available for the payment of the principal, premium, if any, or interest on the <span class=\"dictionary\"><span class=\"dictionary\">bonds<\/span><\/span> to be refunded.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nAMOUNT OF BONDS (\u00a7 15.2-2645)\n\nNo refunding bonds shall be issued in a principal amount exceeding that\nnecessary to amortize the principal of and premium, if any, and interest on the\nbonds to be refunded and pay all expenses reasonably incurred in the issuance of\nthe refunding bonds less the amount then in any sinking, escrow and other funds\nwhich are available for the payment of the principal, premium, if any, or\ninterest on the bonds to be refunded.\n\nHISTORY: Code 1950, \u00a7 15-666.35; 1958, c. 640; 1962, c. 623, \u00a7 15.1-194; 1977,\nc. 442; 1991, c. 668, \u00a7 15.1-227.47; 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}}