                                 CODE OF VIRGINIA

TOWN SCHOOL DIVISION&#8217;S SHARE OF GENERAL COUNTY FUNDS (§ 22.1-114)

For the benefit of each school division composed of a town, the governing body
of the county in which such town is located shall require the county treasurer
to pay over to the town treasurer, if and when properly bonded, the following
funds to be placed in the general fund of the town, subject to appropriation by
the governing body of the town as it may deem necessary:
		From the amount derived from a general or unit levy for all county purposes, a
sum equal to such town&#8217;s pro rata share of the general or unit levy
receipts derived from the taxable property within the town, including real
estate, tangible personal property, merchants&#8217; capital and machinery and
tools. The pro rata share of the town shall be determined by allocating to the
town the same percentage of general or unit levy receipts as is appropriated by
the county governing body for the support of public schools.

HISTORY: Code 1950, § 22-141.2; 1972, c. 746; 1980, c. 559.