15.2-2643 - Authority for issuance; resolutions or ordinances.
§ 15.2-2643. Authority for issuance; resolutions or ordinances.
The governing body of any locality is authorized to provide by resolution orordinance for the issuance of bonds of the locality for the purpose ofrefunding any or all bonds of the locality now or hereafter outstanding,other than obligations issued in anticipation of the collection of therevenue of the locality for the then current year, and for the purpose ofpaying the cost of issuing the refunding bonds, whether the locality createdthe indebtedness or assumed or became liable for it and whether or not theindebtedness to be refunded has matured or is then subject to redemption.
This article shall without reference to any other sections of the Code oracts of the General Assembly be full authority for the issuance, sale, orexchange of bonds authorized under it, and no order, resolution or proceedingin respect of the issuance of the bonds shall be necessary except as requiredby this article. No approval of the authorization, sale, or exchange of bondsunder this article shall be required by any official, court, board, or bodyand no publication of any notice, order, resolution, or proceeding relatingto the issuance of refunding bonds shall be necessary, except as expresslyrequired in this article. The authorization and issuance of refunding bondsshall not be subject to referendum.
(Code 1950, § 15-666.33; 1958, c. 640; 1962, c. 623, § 15.1-192; 1977, c.442; 1991, c. 668, § 15.1-227.44; 1997, c. 587.)