CODE OF VIRGINIA

SPECIAL DEBT DISTRICT (§ 15.2-3709)

If so provided in the agreement required by § 15.2-3701, the territory
constituting the former town may be a special debt district for the purpose of
repaying all or part of the existing indebtedness chargeable to the town before
annulment. A special tax on real property within the special debt district shall
be levied for a period not exceeding twenty years. The special tax may be
different from and in addition to the general tax rate throughout the entire
county or counties in which the town was located.

HISTORY: 1992, c. 453, § 15.1-965.38; 1997, c. 587.