Localities; issuance of bonds for capital projects for school purposes. Permits the governing body of any locality, with the consent of the school board and consistent with relevant provisions of law, to (i) issue bonds to finance all or any portion of any capital project for school purposes in the school division and (ii) use all or any portion of any federal, state, or local grant secured by the governing body of the locality or the school board to cover principal and debt service payments on such bonds.

Statutes affected:
Introduced: 15.2-2638