                                 CODE OF VIRGINIA

PROVISIONS FOR PAYMENT (§ 22.1-158)

The governing body of any county, city or town, if the town constitutes the
school division, in which the school board has borrowed money from the Literary
Fund shall include in its levies and appropriate to the school board a fund
sufficient to meet the liabilities of the school board on such loan for the
construction or renovation or enlarging of any school building, regardless of
whether the title to the site is held by the school board, the local governing
body or by a third party with whom the school board has entered into a long-term
lease. The governing body of any county in which the school board thereof has
borrowed money from the Literary Fund for construction of school facilities
located in a town in such county constituting a separate school division shall
have authority to include in its levies for such town, a levy sufficient to meet
the liabilities of the school board on such loan and shall levy a separate tax
in the rest of the county to meet its liabilities on any contract for school
facilities constructed outside such town. In the event that such school board
shall fail to pay any installment of interest or principal promptly, upon notice
in writing to that effect from the State Treasurer, the county, city or town
treasurer shall pay to the State Treasurer any such past-due installment of
interest or principal, out of the funds in his hands belonging to such county,
city or town. The failure of such governing body to provide for the payment of
such loan or the interest thereon when and as due shall be deemed a cause for
removal of the members thereof from office on motion before the circuit court
having jurisdiction in such county, city or town, instituted by the attorney for
the Commonwealth of such county or city or by the Attorney General where the
attorney for the Commonwealth refuses or neglects to act after demand is made on
him to proceed.
		For the purposes of this section, &#8220;long-term lease&#8221; means a lease
for a term of twenty-five years or more.

HISTORY: Code 1950, § 22-113; 1976, c. 334; 1980, c. 559; 1998, c. 719.