{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/2.2-5002.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/2.2-5002.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/2.2-5002.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/2.2-5002.html"}],"law_id":63107,"edition_id":1,"section_id":63107,"structure_id":15974,"section_number":"2.2-5002","catch_line":"Power to issue obligations not to be denied because interest is subject to federal income taxation","history":"1986, c. 137, \u00a7 2.1-326.2:1; 2001, c. 844.","full_text":"The power of any governmental instrumentality, to issue or have issued on its behalf for authorized purposes, bonds, shall not be construed to be restricted or limited solely because the interest thereon is subject, in whole or in part, directly or indirectly, to federal income taxes.","order_by":null,"text":{"0":{"id":230159,"text":"The power of any governmental instrumentality, to issue or have issued on its behalf for authorized purposes, bonds, shall not be construed to be restricted or limited solely because the interest thereon is subject, in whole or in part, directly or indirectly, to federal income taxes.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":15974,"edition_id":1,"name":"Interest on Certain Obligations of Government Instrumentalities","identifier":"50","label":"chapter","depth":4,"order_by":1,"parent_id":12751,"metadata":{},"date_created":"2026-06-26 04:03:05","date_modified":"2026-06-26 04:03:05","permalink":{"id":177723,"object_type":"structure","relational_id":15974,"identifier":"50","token":"2.2\/II\/B\/50","url":"\/2.2\/II\/B\/50\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12751,"edition_id":1,"name":"Transaction of Public Business","identifier":"B","label":"part","depth":3,"order_by":1,"parent_id":12750,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":176445,"object_type":"structure","relational_id":12751,"identifier":"B","token":"2.2\/II\/B","url":"\/2.2\/II\/B\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12750,"edition_id":1,"name":"Administration of State Government","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12749,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":176253,"object_type":"structure","relational_id":12750,"identifier":"II","token":"2.2\/II","url":"\/2.2\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12749,"edition_id":1,"name":"Administration of Government","identifier":"2.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":171453,"object_type":"structure","relational_id":12749,"identifier":"2.2","token":"2.2","url":"\/2.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":76910,"structure_id":15974,"section_number":"2.2-5000","catch_line":"Governmental instrumentalities authorized to issue bonds, etc., at rates of interest in excess of legal limits; sale of such bonds","url":"\/2.2-5000\/","token":"2.2\/II\/B\/50\/2.2-5000","metadata":false},{"id":62303,"structure_id":15974,"section_number":"2.2-5001","catch_line":"Manner of exercising authority","url":"\/2.2-5001\/","token":"2.2\/II\/B\/50\/2.2-5001","metadata":false},{"id":63107,"structure_id":15974,"section_number":"2.2-5002","catch_line":"Power to issue obligations not to be denied because interest is subject to federal income taxation","url":"\/2.2-5002\/","token":"2.2\/II\/B\/50\/2.2-5002","metadata":false},{"id":78157,"structure_id":15974,"section_number":"2.2-5002.1","catch_line":"Commonwealth tax-supported debt authorizations and treatment of net original issue premium","url":"\/2.2-5002.1\/","token":"2.2\/II\/B\/50\/2.2-5002.1","metadata":false},{"id":80894,"structure_id":15974,"section_number":"2.2-5003","catch_line":"Chapter controlling over inconsistent laws; powers supplemental","url":"\/2.2-5003\/","token":"2.2\/II\/B\/50\/2.2-5003","metadata":false}],"previous_section":{"id":62303,"structure_id":15974,"section_number":"2.2-5001","catch_line":"Manner of exercising authority","url":"\/2.2-5001\/","token":"2.2\/II\/B\/50\/2.2-5001","metadata":false},"next_section":{"id":78157,"structure_id":15974,"section_number":"2.2-5002.1","catch_line":"Commonwealth tax-supported debt authorizations and treatment of net original issue premium","url":"\/2.2-5002.1\/","token":"2.2\/II\/B\/50\/2.2-5002.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/2.2-5002\/","history_text":"<p>This law was first created in 1986. The record of its establishment is cataloged in chapter 137 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 1986 \u201cActs\u201d aren\u2019t available online. 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 2001, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?011+ful+CHAP0844\">844<\/a>.<\/p>","references":[{"id":59570,"section_number":"36-55.40","catch_line":"Notes and bonds","order_by":null,"url":"\/36-55.40\/"}],"refers_to":false,"permalink":{"id":177733,"object_type":"law","relational_id":63107,"identifier":"2.2-5002","token":"2.2\/II\/B\/50\/2.2-5002","url":"\/2.2-5002\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/2.2-5002\/","token":"2.2\/II\/B\/50\/2.2-5002","dublin_core":{"Title":"Power to issue obligations not to be denied because interest is subject to federal income taxation","Type":"Text","Format":"text\/html","Identifier":"\u00a7 2.2-5002","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>The power of any governmental instrumentality, to <span class=\"dictionary\">issue<\/span> or have issued on its behalf for authorized purposes, <span class=\"dictionary\">bonds<\/span>, shall not be construed to be restricted or limited solely because the interest thereon is subject, in whole or in part, directly or indirectly, to federal income taxes.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nPOWER TO ISSUE OBLIGATIONS NOT TO BE DENIED BECAUSE INTEREST IS SUBJECT TO\nFEDERAL INCOME TAXATION (\u00a7 2.2-5002)\n\nThe power of any governmental instrumentality, to issue or have issued on its\nbehalf for authorized purposes, bonds, shall not be construed to be restricted\nor limited solely because the interest thereon is subject, in whole or in part,\ndirectly or indirectly, to federal income taxes.\n\nHISTORY: 1986, c. 137, \u00a7 2.1-326.2:1; 2001, c. 844.","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}}