Are there any regulations related to public financing, including borrowing?

Yes, Virginia has regulations related to public financing, including borrowing. According to the Virginia Code Title 15.2, Chapter 14, the state authorizes local governments to borrow money to finance public projects or public services. This borrowing can be done in the form of: 1) general obligation bonds, 2) revenue bonds, 3) bank loans, 4) notes and other instruments of credit, and 5) public-private partnerships. Generally, public financing is used to finance large capital improvement projects such as public works, roads, schools, water systems, and other public facilities. Virginia Code Title 15.2 sets out procedures and requirements for issuing general obligation bonds and revenue bonds, as well as how to document the borrowing process. For instance, in order to issue general obligation bonds, the local government must first pass a referendum authorizing the issuance of the bonds in the locality. Additionally, the local government must conduct an election to authorize the issuance of a revenue bond. Local governments are generally also subject to debt limits, which restrict the amount of money that may be borrowed. In addition, they must adhere to other rules and regulations pertaining to investments and the use of funds from public financing, such as the Virginia Public Finance Act. Therefore, it is important for local governments to carefully consider the regulations and requirements governing public financing and borrowing before engaging in these activities.

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Are there any regulations related to public financing, including borrowing?

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