{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/15.2-5941.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/15.2-5941.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/15.2-5941.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/15.2-5941.html"}],"law_id":76327,"edition_id":1,"section_id":76327,"structure_id":13779,"section_number":"15.2-5941","catch_line":"Powers","history":"2020, cc. 538, 539.","full_text":"In addition to all other powers it possesses, the Authority may:\n\n1\n\nDetermine the location of, develop, establish, construct, erect, acquire, own, repair, remodel, add to, extend, improve, equip, operate, regulate, and maintain a Facility and Facility Site to the extent necessary to accomplish the purposes of this chapter, including contracting for materials, products, and services related to such Facility or Facility Site;2\n\nEnter into development agreements related to the Facility or Facility Site, including leases, subleases, and any other forms of private financing;3\n\nDevelop a model for participating localities to share costs and revenues of a Facility and Facility Site;4\n\nOperate, enter into contracts for the operation of, and regulate the use and operation of a Facility and Facility Site developed under the provisions of this chapter;5\n\nFix and revise from time to time and charge and collect rates, rents, fees, ticket surcharges, or other charges for the use of a Facility or Facility Site or for services rendered in connection with a Facility or Facility Site;6\n\nDedicate any funds that accrue to the Authority pursuant to the provisions of this chapter for the construction, development, financing, operation, or maintenance of the Facility and Facility Site;7\n\nIssue bonds and similar financial instruments under this chapter;8\n\nFinance the construction of a Facility using loans, notes, private equity financing, or any other method of financing the Authority deems appropriate; and9\n\nDo all things necessary or convenient to carry out the powers granted by this chapter.","order_by":null,"text":{"0":{"id":274009,"text":"In addition to all other powers it possesses, the Authority may:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":274010,"text":"Determine the location of, develop, establish, construct, erect, acquire, own, repair, remodel, add to, extend, improve, equip, operate, regulate, and maintain a Facility and Facility Site to the extent necessary to accomplish the purposes of this chapter, including contracting for materials, products, and services related to such Facility or Facility Site;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":274011,"text":"Enter into development agreements related to the Facility or Facility Site, including leases, subleases, and any other forms of private financing;","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":274012,"text":"Develop a model for participating localities to share costs and revenues of a Facility and Facility Site;","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":274013,"text":"Operate, enter into contracts for the operation of, and regulate the use and operation of a Facility and Facility Site developed under the provisions of this chapter;","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3","next_prefix":"5"},"5":{"id":274014,"text":"Fix and revise from time to time and charge and collect rates, rents, fees, ticket surcharges, or other charges for the use of a Facility or Facility Site or for services rendered in connection with a Facility or Facility Site;","type":"section","prefixes":["5"],"prefix":"5","entire_prefix":"5","prefix_anchor":"5","level":1,"prior_prefix":"4","next_prefix":"6"},"6":{"id":274015,"text":"Dedicate any funds that accrue to the Authority pursuant to the provisions of this chapter for the construction, development, financing, operation, or maintenance of the Facility and Facility Site;","type":"section","prefixes":["6"],"prefix":"6","entire_prefix":"6","prefix_anchor":"6","level":1,"prior_prefix":"5","next_prefix":"7"},"7":{"id":274016,"text":"Issue bonds and similar financial instruments under this chapter;","type":"section","prefixes":["7"],"prefix":"7","entire_prefix":"7","prefix_anchor":"7","level":1,"prior_prefix":"6","next_prefix":"8"},"8":{"id":274017,"text":"Finance the construction of a Facility using loans, notes, private equity financing, or any other method of financing the Authority deems appropriate; 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chairman; terms","url":"\/15.2-5937\/","token":"15.2\/IV\/59.3\/15.2-5937","metadata":false},{"id":87439,"structure_id":13779,"section_number":"15.2-5938","catch_line":"Quorum; actions of Authority; meetings","url":"\/15.2-5938\/","token":"15.2\/IV\/59.3\/15.2-5938","metadata":false},{"id":79518,"structure_id":13779,"section_number":"15.2-5939","catch_line":"Executive Director appointment; duties","url":"\/15.2-5939\/","token":"15.2\/IV\/59.3\/15.2-5939","metadata":false},{"id":78623,"structure_id":13779,"section_number":"15.2-5940","catch_line":"Participation in the Authority by a Hampton Roads locality","url":"\/15.2-5940\/","token":"15.2\/IV\/59.3\/15.2-5940","metadata":false},{"id":76327,"structure_id":13779,"section_number":"15.2-5941","catch_line":"Powers","url":"\/15.2-5941\/","token":"15.2\/IV\/59.3\/15.2-5941","metadata":false},{"id":55989,"structure_id":13779,"section_number":"15.2-5942","catch_line":"Public hearings; notice; reports","url":"\/15.2-5942\/","token":"15.2\/IV\/59.3\/15.2-5942","metadata":false},{"id":84893,"structure_id":13779,"section_number":"15.2-5943","catch_line":"Bond issues","url":"\/15.2-5943\/","token":"15.2\/IV\/59.3\/15.2-5943","metadata":false},{"id":58767,"structure_id":13779,"section_number":"15.2-5944","catch_line":"Restrictions related to sports teams","url":"\/15.2-5944\/","token":"15.2\/IV\/59.3\/15.2-5944","metadata":false},{"id":80000,"structure_id":13779,"section_number":"15.2-5945","catch_line":"Facility Financing Fund; 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This law was first created in 2020. The record of its establishment is cataloged in chapters 538<\/a> and 539<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":false,"permalink":{"id":159883,"object_type":"law","relational_id":76327,"identifier":"15.2-5941","token":"15.2\/IV\/59.3\/15.2-5941","url":"\/15.2-5941\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/15.2-5941\/","token":"15.2\/IV\/59.3\/15.2-5941","dublin_core":{"Title":"Powers","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-5941","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

In addition to all other powers it possesses, the Authority<\/span> may:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Determine the location of, develop, establish, construct, erect, acquire, own, repair, remodel, add to, extend, improve, equip, operate, regulate, and maintain a Facility and Facility Site<\/span> to the extent necessary to accomplish the purposes of this chapter, including contracting for materials<\/span>, products, and services related to such Facility or Facility Site<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Enter into development agreements related to the Facility or Facility Site<\/span>, including leases, subleases, and any other forms of private financing; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Develop a model for participating localities to share costs and revenues of a Facility and Facility Site<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Operate, enter into contracts<\/span> for the operation of, and regulate the use and operation of a Facility and Facility Site<\/span> developed under the provisions of this chapter; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Fix and revise from time to time and charge and collect rates, rents, fees, ticket surcharges, or other charges for the use of a Facility or Facility Site<\/span> or for services rendered in connection with a Facility or Facility Site<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> Dedicate any funds that accrue to the Authority<\/span> pursuant to the provisions of this chapter for the construction, development, financing, operation, or maintenance of the Facility and Facility Site<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> Issue<\/span> bonds<\/span> and similar financial instruments under this chapter; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> Finance the construction of a Facility using loans, notes, private equity<\/span> financing, or any other method of financing the Authority<\/span> deems appropriate; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

9.<\/span> Do all things necessary or convenient to carry out the powers granted by this chapter. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPOWERS (\u00a7 15.2-5941)\n\nIn addition to all other powers it possesses, the Authority may:\n\n1. Determine the location of, develop, establish, construct, erect, acquire,\nown, repair, remodel, add to, extend, improve, equip, operate, regulate, and\nmaintain a Facility and Facility Site to the extent necessary to accomplish the\npurposes of this chapter, including contracting for materials, products, and\nservices related to such Facility or Facility Site;\n\n2. Enter into development agreements related to the Facility or Facility Site,\nincluding leases, subleases, and any other forms of private financing;\n\n3. Develop a model for participating localities to share costs and revenues of a\nFacility and Facility Site;\n\n4. Operate, enter into contracts for the operation of, and regulate the use and\noperation of a Facility and Facility Site developed under the provisions of this\nchapter;\n\n5. Fix and revise from time to time and charge and collect rates, rents, fees,\nticket surcharges, or other charges for the use of a Facility or Facility Site\nor for services rendered in connection with a Facility or Facility Site;\n\n6. Dedicate any funds that accrue to the Authority pursuant to the provisions of\nthis chapter for the construction, development, financing, operation, or\nmaintenance of the Facility and Facility Site;\n\n7. Issue bonds and similar financial instruments under this chapter;\n\n8. Finance the construction of a Facility using loans, notes, private equity\nfinancing, or any other method of financing the Authority deems appropriate; and\n\n9. Do all things necessary or convenient to carry out the powers granted by this\nchapter.\n\nHISTORY: 2020, cc. 538, 539.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}