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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>71705</law_id><section_number>15.2-2631</section_number><catch_line>Terms of temporary loans</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>58.1-3010</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="15.2">Counties, Cities and Towns</unit><unit label="subtitle" level="2" order_by="1" identifier="II">Powers of Local Government</unit><unit label="chapter" level="3" order_by="1" identifier="26">Public Finance Act</unit><unit label="article" level="4" order_by="1" identifier="2">Provisions Applicable to All Bonds</unit></structure><text>
						<section><p>The temporary loans authorized by &#xA7;&#xA7;&#xA0;<a class="law" title="Notes in anticipation of bond issue" href="/15.2-2628/">15.2-2628</a>, <a class="law" title="Loans to meet appropriations for current year" href="/15.2-2629/">15.2-2629</a>, and <a class="law" title="Loans in anticipation of federal and state funds" href="/15.2-2630/">15.2-2630</a>, shall be evidenced by <span class="dictionary"><span class="dictionary">bonds</span></span> or notes issued under and governed by the provisions of this chapter insofar as they are applicable. The <span class="dictionary"><span class="dictionary">bonds</span></span> or notes may be extended or refinanced from time to time, but shall mature within the time limits prescribed by &#xA7;&#xA7;&#xA0;<a class="law" title="Notes in anticipation of bond issue" href="/15.2-2628/">15.2-2628</a>, <a class="law" title="Loans to meet appropriations for current year" href="/15.2-2629/">15.2-2629</a>, and <a class="law" title="Loans in anticipation of federal and state funds" href="/15.2-2630/">15.2-2630</a>.</p></section></text><history>1991, c. 668, &#xA7; 15.1-227.32; 1997, c. 587.</history><metadata></metadata></law>
