Bill Text: VA HB2004 | 2011 | Regular Session | Chaptered
Bill Title: Bonds; public notice issued prior to public hearing shall state use of proceeds.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2011-03-25 - Governor: Acts of Assembly Chapter text (CHAP0590) [HB2004 Detail]
Download: Virginia-2011-HB2004-Chaptered.html
Be it enacted by the General Assembly of Virginia: 1. That §§ 15.2-2606 and 24.2-687 of the Code of Virginia are amended and reenacted as follows: § 15.2-2606. Public hearing before issuance of bonds. A. Notwithstanding any contrary provision of law, general or
special, but subject to subsection B of this section, before the final
authorization of the issuance of any bonds by a locality, the governing body of
the locality shall hold a public hearing on the proposed bond issue. Notice of
the hearing shall be published once a week for two successive weeks in a newspaper
published or having general circulation in the locality. The notice shall (i)
state the B. No notice or public hearing shall be required for (i) bonds
which have been approved by a majority of the voters of the issuing locality
voting on the issuance of such bonds or (ii) obligations issued pursuant to §§
15.2-2629, 15.2-2630 or § 24.2-687. Authorization for distribution of information on referendum elections. A. The governing body of any county, city or town may provide for the preparation and printing of an explanation for each referendum question to be submitted to the voters of the county, city or town to be distributed at the polling places on the day of the referendum election. The governing body may have the explanation published by paid advertisement in a newspaper with general circulation in the county, city or town one or more times preceding the referendum. The explanation shall contain the ballot question and a statement of not more than 500 words on the proposed question. The explanation shall be presented in plain English, shall be limited to a neutral explanation, and shall not present arguments by either proponents or opponents of the proposal. The attorney for the county, city or town or, if there is no county, city or town attorney, the attorney for the Commonwealth shall prepare the explanation. "Plain English" means written in nontechnical, readily understandable language using words of common everyday usage and avoiding legal terms and phrases or other terms and words of art whose usage or special meaning primarily is limited to a particular field or profession. If the referendum question involves the issuance of bonds by a locality, the locality shall provide for such printed explanation. The explanation shall (i) state the estimated maximum amount of the bonds proposed to be issued, and (ii) state the proposed use of the bond proceeds, and if there is more than one use, state the proposed uses for which more than 10 percent of the total bond proceeds is expected to be used. B. Nothing in this section shall be construed to limit a county, city or town from disseminating other neutral materials or advertisements concerning issues of public concern that are the subject of a referendum; however, the materials or advertisements shall not advocate the passage or defeat of the referendum question. C. This section shall not be applicable to statewide referenda. D. Any failure to comply with the provisions of this section shall not affect the validity of the referendum. |