§ 22.1-114 Town school division’s share of general county funds
For the benefit of each school division composed of a town, the governing body of the county in which such town is located shall require the county treasurer to pay over to the town treasurer, if and when properly bonded, the following funds to be placed in the general fund of the town, subject to appropriation by the governing body of the town as it may deem necessary:
From the amount derived from a general or unit levy for all county purposes, a sum equal to such town’s pro rata share of the general or unit levy receipts derived from the taxable property within the town, including real estate, tangible personal property, merchants’ capital and machinery and tools. The pro rata share of the town shall be determined by allocating to the town the same percentage of general or unit levy receipts as is appropriated by the county governing body for the support of public schools.
History
The record of this law’s original creation isn’t available online. It has been modified 2 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1972, chapter 746; in 1980, chapter 559.
Code 1950, § 22-141.2; 1972, c. 746; 1980, c. 559.