                                 CODE OF VIRGINIA

SCHOOL DISTRICT BONDS (§ 15.2-2642)

The governing body of any county, acting for and on behalf of any school
district in the county, or acting for and on behalf of two or more school
districts jointly, may provide for the issuance of general obligation bonds of
the school district or districts for school purposes. Where voter approval is
required by the Constitution of Virginia or the provisions of this chapter, the
bonds shall not be issued unless a majority of the voters of the district voting
in the election held pursuant to §§ 15.2-2610 and 15.2-2611 on the question in
the district, or in each of the districts separately, approve the contracting of
the debt and the issuing of the bonds. The bonds of two or more school districts
shall be issued as joint obligations of such school districts. Any school
district, or any school districts jointly, shall constitute a locality. For the
purpose of this section, each magisterial district in each county shall
constitute a school district, but any such school district shall not include a
town constituting a separate school district. In any county where an
incorporated town constitutes both a school district and an entire magisterial
district, the remaining magisterial districts shall, upon the adoption of
resolutions by the governing body and the school board, constitute a single
school district which may thereafter issue general obligation bonds for school
purposes after approval by a majority of all the voters of the district voting
in an election on the question. The issuance of the bonds shall be governed by
the provisions of this chapter.

HISTORY: Code 1950, § 15-666.32:1; 1958, c. 640; 1962, cc. 76, 623, §
15.1-190; 1964, c. 133; 1968, c. 611; 1971, Ex. Sess., c. 224; 1991, c. 668, §
15.1-227.43; 1997, c. 587.