15.2-2611 - Holding of election; order authorizing bonds; authority of governing body.
§ 15.2-2611. Holding of election; order authorizing bonds; authority ofgoverning body.
The regular election officers of the locality at the time designated in theorder authorizing the vote shall open the polls at the various voting placesin the locality and conduct the election in the manner provided by law forother elections. At the election, each voter may cast his or her vote for oragainst the bond issue. The votes shall be counted, the returns made andcanvassed and the results certified as provided in § 24.2-681 et seq. If itappears from the returns that a majority of the voters of the locality votingon the question at the election are against the proposed bond issue, an ordershall be entered by the court to such effect. If a majority of the voters ofthe locality voting on the question approve the bond issue, the court shallenter an order to such effect, a copy of which shall be promptly certified bythe clerk of the court to the governing body of the locality. The localitymay then proceed to prepare, issue and sell its bonds up to the amount soauthorized and in doing so shall have all of the powers granted to thelocality by this chapter with respect to incurring debt and issuing bonds.Bonds authorized by a referendum may not be issued by a locality more thaneight years after the date of the referendum; however, this eight-year periodmay, at the request of the governing body of the locality, be extended to upto ten years after the date of the referendum by order of the circuit courtfor the locality, or in the case of a town the circuit court for the countyin which the town is located, entered before the expiration of the eight-yearperiod. The court shall grant such extension unless the court is shown byclear and convincing evidence that the extension is not in the best interestsof the locality.
(Code 1950, § 15-666.31; 1958, c. 640; 1962, c. 623, § 15.1-188; 1982, c.181; 1991, c. 668, § 15.1-227.13; 1997, c. 587.)