A Circuit Court judge yesterday approved the sale of $330 million in revenue bonds to complete construction of the long-awaited Fairfax County Parkway.

Judge Thomas J. Middleton ruled that an innovative financing mechanism, under which an independent commission will sell the bonds and Fairfax will repay them from annual tax revenue, is constitutional and does not require prior approval by voters in a referendum.

The ruling came in a so-called validation suit, a proceeding in which Fairfax sued itself to ensure the legality of the concept. County officials said the ruling cleared the way for a bond sale of as much as $100 million for the parkway, formerly called the Springfield Bypass, by August.

The decision could be a major boon for Fairfax Board Chairman Audrey Moore, whose attempts to obtain more money for road improvements have frequently been thwarted. She said the decision will permit the county to start construction simultaneously on seven unfinished portions of the parkway, totaling 23.5 miles, by 1991, the year she stands for reelection.

Under the concept, the entire 35-mile cross-county parkway, Fairfax's highest transportation priority, should be completed by 1994, she said.

An opponent of the scheme, Marcia Dykes, co-founder of an anti-tax group that is trying to oust the Board of Supervisors as a way of protesting rising taxes, said she will likely appeal the decision to the Virginia Supreme Court.

"It's money laundering, and it's just been declared legal," Dykes said, adding that the ruling will allow the county to "put us into debt anywhere they want to, and the sky is the limit."

Another opponent, Osgood Tower of Annandale, said the ruling was a "fair decision, thoroughly reviewed." While the revenue bond scheme may be legal, he said, "I think it's a sleazy thing to do. It's a gimmick to avoid voter approval" for financing road construction through bond indebtedness.

Middleton said that opponents of the scheme seemed to oppose it on political and public policy grounds.

"Whether they {the revenue bonds} are desirable or not is a political question, it is not a legal question," he said. "It is not the function of this court to judge the wisdom of the Board of Supervisors to do what it is doing."

He ruled that the county was not going into debt -- which would require voter approval -- but that an independent party, the Northern Virginia Transportation Commission, was going to issue the bonds.

Under the concept, the county will enter into a contract to pay annual principal and debt service from a special fund that will be replenished every year during the county budget process.

"As I started the day, I had grave doubts about the sufficiency of that contract," Middleton said. But after reviewing Supreme Court decisions in similar cases, Middleton said he concluded that "this type of plan is permissible in this state at this time."