A municipal corporation may, in the name of and for the use of the municipal corporation, borrow money and issue evidence of indebtedness therefor, subject to such limitations as may be imposed by law.
Va. Code Ann. § 15.2-1105
Borrowing money and issuing evidence of indebtedness
Applied in 1 court decision — leading case Mountain View Ltd. Partnership v. City of Clifton Forge (1998)
Most recently applied in Mountain View Ltd. Partnership v. City of Clifton Forge (September 1998)
Code 1950, § 15-77.7; 1958, c. 328; 1962, c. 623, § 15.1-843; 1997, c. 587.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.