§ 7.3. Creation of debt; issuance of bonds.

Latest version.

The town shall have the authority to borrow money, contract debts, make and issue or cause to be issued, as evidence thereof, bonds, notes, or other obligations within the limitations prescribed by the Virginia Constitution, and in accordance with the provisions of the Virginia law concerning bond issues by towns.

Any ordinance creating a debt for which money is to be borrowed shall be adopted by a recorded majority vote of the elected members of the town council.

(Acts 1976, ch. 415, § 1)

(Acts 1976, ch. 415, § 1)

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');