                                 CODE OF VIRGINIA

BONDING REQUIREMENTS FOR THE ACCEPTANCE OF DEDICATION FOR PUBLIC USE OF CERTAIN
FACILITIES (§ 15.2-2241.1)

Notwithstanding the provisions of § 15.2-2241, provided the developer and the
governing body have agreed on the delineation of sections within a proposed
development, the developer shall not be required to furnish to the governing
body a certified check, cash escrow, bond or letter of credit in the amount of
the estimated cost of construction of facilities to be dedicated for public use
within each section of the development until such time as construction plans are
submitted for the section in which such facilities are to be located.

HISTORY: 2007, c. 420.