Virginia § 22.1-161 - Loan declared indebtedness of the county, city or town; lien on locality's funds created
Full text of Virginia Code of Virginia § 22.1-161 — Loan declared indebtedness of the county, city or town; lien on locality's funds created, with citation guidance and answers to common questions.
§ 22.1-161. Loan declared indebtedness of the county, city or town; lien on locality's funds created
Any bonds or notes of a school board held by the Literary Fund are hereby declared to be valid and legally binding indebtedness of the county, city or combination thereof constituting the school division or of the town if the town constitutes the school division. There shall be a lien in favor of the Literary Fund on all funds and income of the county, city or town for the amount of such bonds and notes. Therefore, Literary Fund loans are considered to be general obligation debt of the governing body as defined in § 15.2-2602, and are subject to the provisions of §§ 15.2-2638 and 15.2-2659. The provisions of this section shall not be affected by the release of any memorandum of lien pursuant to subsection B of § 22.1-151.
Code 1950, §§ 22-102, 22-115; 1956, c. 184; 1971, Ex. Sess., c. 128; 1980, c. 559; 2007, c. 121; 2008, c. 365.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 22.1-161
What does Code of Virginia § 22.1-161 cover?
Section 22.1-161 ("Loan declared indebtedness of the county, city or town; lien on locality's funds created") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 22.1-161?
A common citation format is "Code of Virginia § 22.1-161" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 22.1-161 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.