15.2-1649 - Town may issue bonds to finance donation; election on bonds.
§ 15.2-1649. Town may issue bonds to finance donation; election on bonds.
When any town desires to donate to the county any land or sums of money as aninducement for such removal and the town has not sufficient funds in itstreasury as it may desire to offer, the town may borrow the money and issueits bonds therefor. Whenever a number of voters equal to at least twenty-fivepercent of the voters of such town, registered in the town on the January 1preceding the filing of the petition, petition the circuit court for thecounty wherein such town is located for an election to be held on such bondissue, the circuit court shall, in accordance with Article 5 (§ 24.2-681 etseq.) of Chapter 6 of Title 24.2, issue a writ of election, ordering aspecial election upon such bond issue, in which the date of holding suchelection in the town shall be fixed. Such petition shall state the purposesfor which the proceeds of such bond issue shall be used, and the amount ofsuch issue. The election shall be held and the vote canvassed and returnsmade in accordance with the requirements of the general election law, exceptthat the certificate of the electoral board shall be as follows:
"We hereby certify that at the election held in the town of .......... on the
.......... day of .........., 20 ...., upon the question of a bond issue of
.......... dollars, to be used as a donation to .......... county as an
inducement for removal of the courthouse of the county to the town,
.......... votes were cast for the bond issue and .......... votes were cast
against the bond issue."
The ballots used in the election shall be as follows:
"Shall the Town of .......... issue bonds to the amount of ..........
dollars to be used as a donation to .......... County, as an inducement for
the removal of the courthouse?
[] Yes
[] No"
The electoral board shall certify in duplicate the vote cast in suchelections, for and against the bond issue, one of such certificates to befiled with the clerk of the county and the other with the judge of thecircuit court.
Such election shall be subject to inquiry in the manner provided by §15.2-1654.
(Code 1950, § 15-48; 1962, c. 623, § 15.1-564; 1975, c. 517; 1997, c. 587.)