{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/15.2-5932.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/15.2-5932.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/15.2-5932.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/15.2-5932.html"}],"law_id":65620,"edition_id":1,"section_id":65620,"structure_id":14982,"section_number":"15.2-5932","catch_line":"Sports or Entertainment Project Financing Fund; use","history":"2019, c. 793; 2020, c. 467.","full_text":"A\n\nThe City of Virginia Beach may, in its discretion, create a Sports or Entertainment Project Financing Fund, hereafter referred to as “the Fund.” The City of Virginia Beach may use the Fund as a non-lapsing revolving fund for the purposes of carrying out the provisions of this chapter and providing security for any bonds issued under this chapter.B\n\nAll of the following receipts of the City of Virginia Beach may be placed in the Fund: (i) proceeds from the sale of bonds, (ii) revenues collected or received from any source under the provisions of this chapter, (iii) sales and use tax revenues remitted to the City of Virginia Beach by the State Comptroller pursuant to § 15.2-5933, and (iv) any other revenues under the jurisdiction of the City of Virginia Beach.C\n\nThe City of Virginia Beach may pay expenses and make expenditures from the Fund. To the extent deemed appropriate by the City of Virginia Beach, the receipts of the Fund may be pledged to and charged with the payment of debt service on City of Virginia Beach bonds and all reasonable charges and expenses related to the City borrowing and the management of the City’s obligations. The City of Virginia Beach may use the Fund to pay for expenses or debt service associated with or incurred by a community development authority formed by the City of Virginia Beach pursuant to the provisions of Article 6 (§ 15.2-5152 et seq.) of Chapter 51 for the purpose of developing the sports and entertainment district.","order_by":null,"text":{"0":{"id":238524,"text":"The City of Virginia Beach may, in its discretion, create a Sports or Entertainment Project Financing Fund, hereafter referred to as “the Fund.” The City of Virginia Beach may use the Fund as a non-lapsing revolving fund for the purposes of carrying out the provisions of this chapter and providing security for any bonds issued under this chapter.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":238525,"text":"All of the following receipts of the City of Virginia Beach may be placed in the Fund: (i) proceeds from the sale of bonds, (ii) revenues collected or received from any source under the provisions of this chapter, (iii) sales and use tax revenues remitted to the City of Virginia Beach by the State Comptroller pursuant to § 15.2-5933, and (iv) any other revenues under the jurisdiction of the City of Virginia Beach.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":238526,"text":"The City of Virginia Beach may pay expenses and make expenditures from the Fund. To the extent deemed appropriate by the City of Virginia Beach, the receipts of the Fund may be pledged to and charged with the payment of debt service on City of Virginia Beach bonds and all reasonable charges and expenses related to the City borrowing and the management of the City’s obligations. The City of Virginia Beach may use the Fund to pay for expenses or debt service associated with or incurred by a community development authority formed by the City of Virginia Beach pursuant to the provisions of Article 6 (§ 15.2-5152 et seq.) of Chapter 51 for the purpose of developing the sports and entertainment district.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":14982,"edition_id":1,"name":"Virginia Beach Sports or Entertainment Project","identifier":"59.2","label":"chapter","depth":3,"order_by":1,"parent_id":12721,"metadata":{},"date_created":"2026-06-26 03:51:17","date_modified":"2026-06-26 03:51:17","permalink":{"id":159827,"object_type":"structure","relational_id":14982,"identifier":"59.2","token":"15.2\/IV\/59.2","url":"\/15.2\/IV\/59.2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12721,"edition_id":1,"name":"Other Governmental Entities","identifier":"IV","label":"subtitle","depth":2,"order_by":1,"parent_id":12720,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":157897,"object_type":"structure","relational_id":12721,"identifier":"IV","token":"15.2\/IV","url":"\/15.2\/IV\/","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":60924,"structure_id":14982,"section_number":"15.2-5928","catch_line":"Definitions","url":"\/15.2-5928\/","token":"15.2\/IV\/59.2\/15.2-5928","metadata":false},{"id":73350,"structure_id":14982,"section_number":"15.2-5929","catch_line":"Powers","url":"\/15.2-5929\/","token":"15.2\/IV\/59.2\/15.2-5929","metadata":false},{"id":57163,"structure_id":14982,"section_number":"15.2-5930","catch_line":"Public hearings; notice; reports","url":"\/15.2-5930\/","token":"15.2\/IV\/59.2\/15.2-5930","metadata":false},{"id":84412,"structure_id":14982,"section_number":"15.2-5931","catch_line":"Bond issues","url":"\/15.2-5931\/","token":"15.2\/IV\/59.2\/15.2-5931","metadata":false},{"id":65620,"structure_id":14982,"section_number":"15.2-5932","catch_line":"Sports or Entertainment Project Financing Fund; use","url":"\/15.2-5932\/","token":"15.2\/IV\/59.2\/15.2-5932","metadata":false},{"id":80568,"structure_id":14982,"section_number":"15.2-5933","catch_line":"Entitlement to tax revenues derived from the operation of facilities","url":"\/15.2-5933\/","token":"15.2\/IV\/59.2\/15.2-5933","metadata":false},{"id":61820,"structure_id":14982,"section_number":"15.2-5934","catch_line":"Tax revenues of the Commonwealth or any other political subdivision not pledged","url":"\/15.2-5934\/","token":"15.2\/IV\/59.2\/15.2-5934","metadata":false}],"previous_section":{"id":84412,"structure_id":14982,"section_number":"15.2-5931","catch_line":"Bond issues","url":"\/15.2-5931\/","token":"15.2\/IV\/59.2\/15.2-5931","metadata":false},"next_section":{"id":80568,"structure_id":14982,"section_number":"15.2-5933","catch_line":"Entitlement to tax revenues derived from the operation of facilities","url":"\/15.2-5933\/","token":"15.2\/IV\/59.2\/15.2-5933","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-5932\/","history_text":"

This law was first created in 2019. The record of its establishment is cataloged in chapter 793<\/a> 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. It has been modified 1 time. 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. That modification is as follows: in 2020, chapter 467<\/a>.<\/p>","references":false,"refers_to":[{"id":85282,"section_number":"15.2-5152","catch_line":"Localities may consider petitions for creation of authority","order_by":null,"url":"\/15.2-5152\/"},{"id":80568,"section_number":"15.2-5933","catch_line":"Entitlement to tax revenues derived from the operation of facilities","order_by":null,"url":"\/15.2-5933\/"}],"permalink":{"id":159845,"object_type":"law","relational_id":65620,"identifier":"15.2-5932","token":"15.2\/IV\/59.2\/15.2-5932","url":"\/15.2-5932\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/15.2-5932\/","token":"15.2\/IV\/59.2\/15.2-5932","dublin_core":{"Title":"Sports or Entertainment Project Financing Fund; use","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-5932","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The City of Virginia Beach<\/span> may, in its discretion, create a Sports or Entertainment Project<\/span> Financing Fund, hereafter referred to as “the Fund.” The City of Virginia Beach<\/span> may use the Fund as a non-lapsing revolving fund for the purposes of carrying out the provisions of this chapter and providing security for any bonds<\/span> issued under this chapter. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> All of the following receipts of the City of Virginia Beach<\/span> may be placed in the Fund: (i) proceeds from the sale of bonds<\/span>, (ii) revenues collected or received from any source under the provisions of this chapter, (iii) sales and use tax revenues<\/span> remitted to the City of Virginia Beach<\/span> by the State Comptroller pursuant to § 15.2-5933<\/a>, and (iv) any other revenues under the jurisdiction<\/span> of the City of Virginia Beach<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The City of Virginia Beach<\/span> may pay expenses and make expenditures from the Fund. To the extent deemed appropriate by the City of Virginia Beach<\/span>, the receipts of the Fund may be pledged to and charged with the payment of debt service on City of Virginia Beach<\/span> bonds<\/span> and all reasonable charges and expenses related to the City borrowing and the management of the City’s obligations. The City of Virginia Beach<\/span> may use the Fund to pay for expenses or debt service associated with or incurred by a community development authority formed by the City of Virginia Beach<\/span> pursuant to the provisions of Article 6 (§ 15.2-5152<\/a> et seq.) of Chapter 51 for the purpose of developing the sports and entertainment district<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSPORTS OR ENTERTAINMENT PROJECT FINANCING FUND; USE (\u00a7 15.2-5932)\n\nA. The City of Virginia Beach may, in its discretion, create a Sports or\nEntertainment Project Financing Fund, hereafter referred to as “the\nFund.” The City of Virginia Beach may use the Fund as a non-lapsing\nrevolving fund for the purposes of carrying out the provisions of this chapter\nand providing security for any bonds issued under this chapter.\n\nB. All of the following receipts of the City of Virginia Beach may be placed in\nthe Fund: (i) proceeds from the sale of bonds, (ii) revenues collected or\nreceived from any source under the provisions of this chapter, (iii) sales and\nuse tax revenues remitted to the City of Virginia Beach by the State Comptroller\npursuant to § 15.2-5933, and (iv) any other revenues under the jurisdiction\nof the City of Virginia Beach.\n\nC. The City of Virginia Beach may pay expenses and make expenditures from the\nFund. To the extent deemed appropriate by the City of Virginia Beach, the\nreceipts of the Fund may be pledged to and charged with the payment of debt\nservice on City of Virginia Beach bonds and all reasonable charges and expenses\nrelated to the City borrowing and the management of the City’s\nobligations. The City of Virginia Beach may use the Fund to pay for expenses or\ndebt service associated with or incurred by a community development authority\nformed by the City of Virginia Beach pursuant to the provisions of Article 6\n(§ 15.2-5152 et seq.) of Chapter 51 for the purpose of developing the\nsports and entertainment district.\n\nHISTORY: 2019, c. 793; 2020, c. 467.","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}}