§ 15.2-6214. Revenue sharing agreements
Notwithstanding the requirements of Chapter 34 (§ 15.2-3400 et seq.) of Title 15.2, the County of Alleghany and the Town of Clifton Forge may agree to a revenue and economic growth sharing arrangement with respect to tax revenues generated by any industry, business or other for-profit employment generating enterprise locating in any of the localities. The obligations of the parties to any such agreement shall not be construed to be debt within the meaning of Article VII, Section 10 of the Constitution of Virginia. Any such agreement shall be approved by a majority vote of the governing bodies of the localities reaching agreement but shall not require any other approval.
(1993, c. 982, § 15.1-1675; 1997, c. 587; 2006, c. 861.)
Sections: Previous 15.2-6200 15.2-6201 15.2-6202 15.2-6203 15.2-6204 15.2-6205 15.2-6206 15.2-6207 15.2-6208 15.2-6209 15.2-6210 15.2-6211 15.2-6212 15.2-6213 15.2-6214Last modified: April 16, 2009