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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>69062</law_id><section_number>58.1-3245.4:1</section_number><catch_line>No annual debt limits for certain cities</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="58.1">Taxation</unit><unit label="subtitle" level="2" order_by="1" identifier="III">Local Taxes</unit><unit label="chapter" level="3" order_by="1" identifier="32">Real Property Tax</unit><unit label="article" level="4" order_by="1" identifier="4.1">Tax Increment Financing</unit></structure><text>
						<section><p>The Cities of Chesapeake and Virginia Beach, when issuing debt <span class="dictionary">obligations</span> pursuant to &#xA7;&#xA0;<a class="law" title="Issuance of obligations for project costs" href="/58.1-3245.4/">58.1-3245.4</a> shall not be subject to any annual debt limitations set forth in the charter provisions of such city.</p></section></text><history>1994, c. 667; 2005, c. 733.</history><metadata></metadata></law>
