                                 CODE OF VIRGINIA

PUBLIC HEARING BEFORE ISSUANCE OF BONDS (§ 15.2-2606)

A. Notwithstanding any contrary provision of law, general or special, but
subject to subsection B of this section, before the final authorization of the
issuance of any bonds by a locality, the governing body of the locality shall
hold a public hearing on the proposed bond issue. Notice of the hearing shall be
published twice in a newspaper published or having general circulation in the
locality, with the first notice appearing no more than 28 days before and the
second notice appearing no less than seven days before the hearing. The notice
shall (i) state the estimated maximum amount of the bonds proposed to be issued,
(ii) state the proposed use of the bond proceeds, and if there is more than one
use, state the proposed uses for which more than 10 percent of the total bond
proceeds is expected to be used, and (iii) specify the time and place of the
hearing at which persons may appear and present their views.

B. No notice or public hearing shall be required for (i) bonds which have been
approved by a majority of the voters of the issuing locality voting on the
issuance of such bonds or (ii) obligations issued pursuant to &#xA7; 15.2-2629,
15.2-2630 or 15.2-2643.

HISTORY: 1987, c. 402, § 15.1-171.1; 1990, c. 175; 1991, c. 668, § 15.1-227.8;
1994, c. 714; 1997, c. 587; 2011, c. 590; 2023, cc. 506, 507; 2024, cc. 225,
242.