                                 CODE OF VIRGINIA

DISPOSITION OF NET PROFITS TO LOCALITIES (§ 4.1-117)

When the moneys transferred quarterly or as otherwise provided in the
appropriation act by the Comptroller to the general fund of the state treasury
exceed the sum of $187,500, two-thirds of all moneys in excess of $187,500 shall
be apportioned by the Comptroller and distributed quarterly within ten days
following such transfer. Such payments shall be made by the Comptroller drawn on
the Treasurer of Virginia to the several counties, cities, and towns of the
Commonwealth, appropriated on the basis of the population of the respective
counties, cities, and towns, according to the last preceding United States
census. However, in the case of any town which came into existence in or about
the year 1691 which is now the county seat of any county having a population of
less than 45,000 but more than 40,000, and the boundaries of such town are not
fixed, such portion of the moneys appropriated shall be based on an estimate of
the population of such town made by the Center for Public Service. The judge of
the circuit court of the county in which the town or city or greater part
thereof seeking an increase under the provisions of this chapter is located may
appoint two disinterested persons as commissioners, neither of whom shall reside
in the county, city, or town which is the subject of the annexation proceedings.
The commissioners so appointed shall determine the population of the territory
annexed to the town or city as of the date of the last preceding United States
census and report their findings to the court, and future distributions of the
moneys allocated under the provisions of this chapter shall be made in
accordance therewith. The Comptroller shall make no adjustments in his
distribution of profits until the Secretary of the Commonwealth transmits to the
Comptroller, pursuant to § 15.2-3209, a copy of the court order granting the
petition of annexation.

HISTORY: Code 1950, § 4-22; 1960, c. 104; 1962, c. 385; 1964, c. 215; 1966, c.
431; 1968, c. 623; 1970, c. 727; 1972, c. 849; 1973, c. 349; 1974, c. 460; 1981,
c. 514; 1982, c. 540; 1983, c. 427; 1984, c. 105; 1985, c. 222; 1993, c. 866.