                                 CODE OF VIRGINIA

EXPENSES OF THE TOURISM IMPROVEMENT DISTRICT (§ 15.2-2413.9)

A. A locality may appropriate funds to pay expenses associated with the tourism
improvement district. A locality may appropriate funds to the administering
nonprofit.

B. A locality may issue bonds and other obligations subject to the provisions of
the Public Finance Act of 1991 (&#xA7; 15.2-2600 et seq.) for the purpose of
funding the costs of the tourism improvement district plan. Principal and
interest payments on such bonds may be paid from the proceeds of any fees
imposed under this article.

C. No funds raised pursuant to this article shall be used by the locality for
any purposes other than funding the expenses of the tourism improvement
district.

HISTORY: 2021, Sp. Sess. I, c. 500.