A. Any county or city embraced within a transportation district is authorizedto enter into contracts or agreements with the commission for suchtransportation district, or with an agency, pursuant to which suchtransportation district, subject to the limitations herein contained, or suchagency undertakes to provide the transportation facilities specified in aduly adopted transportation plan, and/or to render transportation service.Any obligations arising from such contracts are deemed to be for a publicpurpose and may be paid for, in the discretion of each county or city, inwhole or in part, by appropriations from general revenues or from theproceeds of a bond issue or issues; however, any such contract must specifythe annual maximum obligation of any county or city for payments to meet theexpenses and obligations of the transportation district or such agency orprovide a formula to determine the payment of any such county or city forsuch expenses and obligations. Each county or city desiring to contract witha transportation district or an agency is authorized to do so provided itcomplies with the appropriate provisions of law and thereafter is authorizedto do everything necessary or proper to carry out and perform every suchcontract and to provide for the payment or discharge of any obligationthereunder by the same means and in the same manner as any other of itsobligations.
B. Except as otherwise provided by law:
1. No bonded debt shall be contracted by any county to finance the payment ofany obligations arising from its contracts hereunder unless the voters ofsuch county shall approve by a majority vote of the voters voting in anelection the contracting of any such debt, the borrowing of money andissuance of bonds. Such debt shall be contracted and bonds issued and suchelection shall be held in the manner provided in and subject to theprovisions of Chapter 26 (§ 15.2-2600 et seq.) of this title relating tocounties;
2. The contracting of debt, borrowing of money and issuance of bonds by anycity to finance the payment of any obligations arising from its contractshereunder shall be effected in the manner provided in and subject to theprovisions of Chapter 26 of this title relating to cities.
(1964, c. 631, § 15.1-1359; 1968, c. 363; 1997, c. 587.)
A. Any county or city embraced within a transportation district is authorizedto enter into contracts or agreements with the commission for suchtransportation district, or with an agency, pursuant to which suchtransportation district, subject to the limitations herein contained, or suchagency undertakes to provide the transportation facilities specified in aduly adopted transportation plan, and/or to render transportation service.Any obligations arising from such contracts are deemed to be for a publicpurpose and may be paid for, in the discretion of each county or city, inwhole or in part, by appropriations from general revenues or from theproceeds of a bond issue or issues; however, any such contract must specifythe annual maximum obligation of any county or city for payments to meet theexpenses and obligations of the transportation district or such agency orprovide a formula to determine the payment of any such county or city forsuch expenses and obligations. Each county or city desiring to contract witha transportation district or an agency is authorized to do so provided itcomplies with the appropriate provisions of law and thereafter is authorizedto do everything necessary or proper to carry out and perform every suchcontract and to provide for the payment or discharge of any obligationthereunder by the same means and in the same manner as any other of itsobligations.
B. Except as otherwise provided by law:
1. No bonded debt shall be contracted by any county to finance the payment ofany obligations arising from its contracts hereunder unless the voters ofsuch county shall approve by a majority vote of the voters voting in anelection the contracting of any such debt, the borrowing of money andissuance of bonds. Such debt shall be contracted and bonds issued and suchelection shall be held in the manner provided in and subject to theprovisions of Chapter 26 (§ 15.2-2600 et seq.) of this title relating tocounties;
2. The contracting of debt, borrowing of money and issuance of bonds by anycity to finance the payment of any obligations arising from its contractshereunder shall be effected in the manner provided in and subject to theprovisions of Chapter 26 of this title relating to cities.
(1964, c. 631, § 15.1-1359; 1968, c. 363; 1997, c. 587.)
A. Any county or city embraced within a transportation district is authorizedto enter into contracts or agreements with the commission for suchtransportation district, or with an agency, pursuant to which suchtransportation district, subject to the limitations herein contained, or suchagency undertakes to provide the transportation facilities specified in aduly adopted transportation plan, and/or to render transportation service.Any obligations arising from such contracts are deemed to be for a publicpurpose and may be paid for, in the discretion of each county or city, inwhole or in part, by appropriations from general revenues or from theproceeds of a bond issue or issues; however, any such contract must specifythe annual maximum obligation of any county or city for payments to meet theexpenses and obligations of the transportation district or such agency orprovide a formula to determine the payment of any such county or city forsuch expenses and obligations. Each county or city desiring to contract witha transportation district or an agency is authorized to do so provided itcomplies with the appropriate provisions of law and thereafter is authorizedto do everything necessary or proper to carry out and perform every suchcontract and to provide for the payment or discharge of any obligationthereunder by the same means and in the same manner as any other of itsobligations.
B. Except as otherwise provided by law:
1. No bonded debt shall be contracted by any county to finance the payment ofany obligations arising from its contracts hereunder unless the voters ofsuch county shall approve by a majority vote of the voters voting in anelection the contracting of any such debt, the borrowing of money andissuance of bonds. Such debt shall be contracted and bonds issued and suchelection shall be held in the manner provided in and subject to theprovisions of Chapter 26 (§ 15.2-2600 et seq.) of this title relating tocounties;
2. The contracting of debt, borrowing of money and issuance of bonds by anycity to finance the payment of any obligations arising from its contractshereunder shall be effected in the manner provided in and subject to theprovisions of Chapter 26 of this title relating to cities.
(1964, c. 631, § 15.1-1359; 1968, c. 363; 1997, c. 587.)
