{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/15.2-6308.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/15.2-6308.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/15.2-6308.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/15.2-6308.html"}],"law_id":65640,"edition_id":1,"section_id":65640,"structure_id":13760,"section_number":"15.2-6308","catch_line":"Powers of authorities generally","history":"Code 1950, \u00a7 15-946; 1954, c. 645; 1962, c. 623, \u00a7 15.1-1329; 1996, c. 740; 1997, c. 587; 2005, cc. 869, 887.","full_text":"An authority shall have the following powers:\n\n1\n\nTo sue and be sued; to adopt and use a common seal and to alter the same as may be deemed expedient; to have perpetual succession; to make and execute contracts and other instruments necessary or convenient to the exercise of the powers of the authority; and to make and from time to time amend and repeal bylaws, rules and regulations, not inconsistent with law, to carry into effect the powers and purposes of the authority.2\n\nTo foster and stimulate the industrial, social and other economic development of its area of operation, including without limitation development for industrial, employment, housing, commercial, recreational, educational and other public purposes; to prepare and carry out plans and projects to accomplish such objectives; to provide for the construction, reconstruction, improvement, alteration, maintenance, removal, equipping or repair of any buildings, structures or land of any kind; to sell, lease or rent to others or to develop, operate or manage with others in a joint venture or other partnering arrangement, on such terms as it deems proper and which are consistent with the provisions of § 15.2-6317, any lands, dwellings, houses, accommodations, structures, buildings, facilities, or appurtenances embraced within its area of operations; to establish, collect and revise the rents charged and terms and conditions of occupancy thereof; to terminate any such lease or rental obligation upon the failure of the lessee or renter to comply with any of the obligations thereof; to arrange or contract for the furnishing by any person or agency, public or private, of works, services, privileges or facilities in connection with any activity in which the authority may engage; to acquire, own, hold, and improve real or personal property; to purchase, lease, obtain options upon, acquire by gift, grant, bequest, devise, easement, dedication or otherwise any real or personal property or any interest therein, which purchase, lease, or acquisition may be made for less than fair market value; to sell, lease, exchange, transfer, assign, or pledge any real or personal property or any interest therein, which sale, lease, or other transfer or assignment may be made for less than fair market value; to dedicate, make a gift of, or lease for a nominal amount, any real or personal property or any interest therein to the Commonwealth, or the localities or agencies, public or private, within the area of operation or adjacent to such authority, jointly or severally, for public use or benefit, such as, but not limited to, game preserves, playgrounds, park and recreational areas and facilities, hospitals, clinics, schools and airports; to acquire, lease, maintain, alter, operate, improve, expand, sell or otherwise dispose of on-site utility and infrastructure systems or sell any excess service capacity for off-site use; to acquire, lease, construct, maintain and operate and dispose of tracks, spurs, crossings, terminals, warehouses and terminal facilities of every kind and description necessary or useful in the transportation and storage of goods, wares and merchandise; and to insure or provide for the insurance of any real or personal property or operation of the authority against any risks or hazards.3\n\nTo invest any funds held in reserves or sinking funds, or any funds not required for immediate disbursements, in property or security in which fiduciaries may legally invest funds subject to their control; to purchase its bonds at a price not more than the principal amount thereof and accrued interest, all bonds so purchased to be cancelled.4\n\nTo undertake and carry out examinations, investigations, studies and analyses of the business, industrial, agricultural, utility, transportation and other economic development needs, requirements and potentialities of its area of operation, or off-site needs, requirements and potentialities which directly affect the successful industrial and economic development of its area of operation, and the manner in which such needs and requirements and potentialities are being met, or should be met, in order to accomplish the purposes for which it is created; to make use of the facts determined in such research and analyses in its own operation; and to make the results of such studies and analyses available to public bodies and to private individuals, groups and businesses, except as such information may be exempted pursuant to the Virginia Freedom of Information Act (§ 2.2-3700 et seq.).5\n\nIn the discharge of its enumerated powers, to cooperate with the federal government, the Commonwealth and the localities within its area of operation or adjacent to such authority.6\n\nTo appoint an authority advisory committee to advise it, consisting of such number of persons as it may deem proper. Such persons so appointed shall be residents of the locality in which the authority is located. They shall not receive any compensation for their services but may be reimbursed for their necessary traveling and other expenses incurred while on business of the authority.7\n\nTo exercise all or any part or combination of powers herein granted.8\n\nTo do any and all other acts and things that may be reasonably necessary and convenient to carry out its purposes and powers.\n\t\t\tNo provision of law with respect to the acquisition, operation or disposition of property by other political subdivisions or public bodies shall be applicable to an authority unless specifically stated therein. In any locality where planning, zoning or development regulations may apply, the authority shall comply with and is subject to those regulations to the same extent as a private commercial or industrial enterprise.","order_by":null,"text":{"0":{"id":238566,"text":"An authority shall have the following powers:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":238567,"text":"To sue and be sued; to adopt and use a common seal and to alter the same as may be deemed expedient; to have perpetual succession; to make and execute contracts and other instruments necessary or convenient to the exercise of the powers of the authority; and to make and from time to time amend and repeal bylaws, rules and regulations, not inconsistent with law, to carry into effect the powers and purposes of the authority.","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":238568,"text":"To foster and stimulate the industrial, social and other economic development of its area of operation, including without limitation development for industrial, employment, housing, commercial, recreational, educational and other public purposes; to prepare and carry out plans and projects to accomplish such objectives; to provide for the construction, reconstruction, improvement, alteration, maintenance, removal, equipping or repair of any buildings, structures or land of any kind; to sell, lease or rent to others or to develop, operate or manage with others in a joint venture or other partnering arrangement, on such terms as it deems proper and which are consistent with the provisions of § 15.2-6317, any lands, dwellings, houses, accommodations, structures, buildings, facilities, or appurtenances embraced within its area of operations; to establish, collect and revise the rents charged and terms and conditions of occupancy thereof; to terminate any such lease or rental obligation upon the failure of the lessee or renter to comply with any of the obligations thereof; to arrange or contract for the furnishing by any person or agency, public or private, of works, services, privileges or facilities in connection with any activity in which the authority may engage; to acquire, own, hold, and improve real or personal property; to purchase, lease, obtain options upon, acquire by gift, grant, bequest, devise, easement, dedication or otherwise any real or personal property or any interest therein, which purchase, lease, or acquisition may be made for less than fair market value; to sell, lease, exchange, transfer, assign, or pledge any real or personal property or any interest therein, which sale, lease, or other transfer or assignment may be made for less than fair market value; to dedicate, make a gift of, or lease for a nominal amount, any real or personal property or any interest therein to the Commonwealth, or the localities or agencies, public or private, within the area of operation or adjacent to such authority, jointly or severally, for public use or benefit, such as, but not limited to, game preserves, playgrounds, park and recreational areas and facilities, hospitals, clinics, schools and airports; to acquire, lease, maintain, alter, operate, improve, expand, sell or otherwise dispose of on-site utility and infrastructure systems or sell any excess service capacity for off-site use; to acquire, lease, construct, maintain and operate and dispose of tracks, spurs, crossings, terminals, warehouses and terminal facilities of every kind and description necessary or useful in the transportation and storage of goods, wares and merchandise; and to insure or provide for the insurance of any real or personal property or operation of the authority against any risks or hazards.","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":238569,"text":"To invest any funds held in reserves or sinking funds, or any funds not required for immediate disbursements, in property or security in which fiduciaries may legally invest funds subject to their control; to purchase its bonds at a price not more than the principal amount thereof and accrued interest, all bonds so purchased to be cancelled.","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":238570,"text":"To undertake and carry out examinations, investigations, studies and analyses of the business, industrial, agricultural, utility, transportation and other economic development needs, requirements and potentialities of its area of operation, or off-site needs, requirements and potentialities which directly affect the successful industrial and economic development of its area of operation, and the manner in which such needs and requirements and potentialities are being met, or should be met, in order to accomplish the purposes for which it is created; to make use of the facts determined in such research and analyses in its own operation; and to make the results of such studies and analyses available to public bodies and to private individuals, groups and businesses, except as such information may be exempted pursuant to the Virginia Freedom of Information Act (§ 2.2-3700 et seq.).","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3","next_prefix":"5"},"5":{"id":238571,"text":"In the discharge of its enumerated powers, to cooperate with the federal government, the Commonwealth and the localities within its area of operation or adjacent to such authority.","type":"section","prefixes":["5"],"prefix":"5","entire_prefix":"5","prefix_anchor":"5","level":1,"prior_prefix":"4","next_prefix":"6"},"6":{"id":238572,"text":"To appoint an authority advisory committee to advise it, consisting of such number of persons as it may deem proper. Such persons so appointed shall be residents of the locality in which the authority is located. They shall not receive any compensation for their services but may be reimbursed for their necessary traveling and other expenses incurred while on business of the authority.","type":"section","prefixes":["6"],"prefix":"6","entire_prefix":"6","prefix_anchor":"6","level":1,"prior_prefix":"5","next_prefix":"7"},"7":{"id":238573,"text":"To exercise all or any part or combination of powers herein granted.","type":"section","prefixes":["7"],"prefix":"7","entire_prefix":"7","prefix_anchor":"7","level":1,"prior_prefix":"6","next_prefix":"8"},"8":{"id":238574,"text":"To do any and all other acts and things that may be reasonably necessary and convenient to carry out its purposes and powers.\n\t\t\tNo provision of law with respect to the acquisition, operation or disposition of property by other political subdivisions or public bodies shall be applicable to an authority unless specifically stated therein. In any locality where planning, zoning or development regulations may apply, the authority shall comply with and is subject to those regulations to the same extent as a private commercial or industrial enterprise.","type":"section","prefixes":["8"],"prefix":"8","entire_prefix":"8","prefix_anchor":"8","level":1,"prior_prefix":"7"}},"ancestry":[{"id":13760,"edition_id":1,"name":"Authorities for Development of Former Federal Areas","identifier":"63","label":"chapter","depth":3,"order_by":1,"parent_id":12721,"metadata":{},"date_created":"2026-06-26 03:45:48","date_modified":"2026-06-26 03:45:48","permalink":{"id":160117,"object_type":"structure","relational_id":13760,"identifier":"63","token":"15.2\/IV\/63","url":"\/15.2\/IV\/63\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12721,"edition_id":1,"name":"Other Governmental Entities","identifier":"IV","label":"subtitle","depth":2,"order_by":1,"parent_id":12720,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":157897,"object_type":"structure","relational_id":12721,"identifier":"IV","token":"15.2\/IV","url":"\/15.2\/IV\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12720,"edition_id":1,"name":"Counties, Cities and Towns","identifier":"15.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":151279,"object_type":"structure","relational_id":12720,"identifier":"15.2","token":"15.2","url":"\/15.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":77096,"structure_id":13760,"section_number":"15.2-6300","catch_line":"Declaration of policy for authorities created by the Governor","url":"\/15.2-6300\/","token":"15.2\/IV\/63\/15.2-6300","metadata":false},{"id":81238,"structure_id":13760,"section_number":"15.2-6300.1","catch_line":"Declaration of policy for authorities created by a locality","url":"\/15.2-6300.1\/","token":"15.2\/IV\/63\/15.2-6300.1","metadata":false},{"id":78734,"structure_id":13760,"section_number":"15.2-6301","catch_line":"Definitions","url":"\/15.2-6301\/","token":"15.2\/IV\/63\/15.2-6301","metadata":false},{"id":57307,"structure_id":13760,"section_number":"15.2-6302","catch_line":"Establishment of development authorities","url":"\/15.2-6302\/","token":"15.2\/IV\/63\/15.2-6302","metadata":false},{"id":82802,"structure_id":13760,"section_number":"15.2-6303","catch_line":"Authorities to file annual reports","url":"\/15.2-6303\/","token":"15.2\/IV\/63\/15.2-6303","metadata":false},{"id":70793,"structure_id":13760,"section_number":"15.2-6304","catch_line":"Board of commissioners; appointment of director, agents and employees","url":"\/15.2-6304\/","token":"15.2\/IV\/63\/15.2-6304","metadata":false},{"id":80293,"structure_id":13760,"section_number":"15.2-6304.1","catch_line":"Repealed","url":"\/15.2-6304.1\/","token":"15.2\/IV\/63\/15.2-6304.1","metadata":false},{"id":73414,"structure_id":13760,"section_number":"15.2-6305","catch_line":"Powers and duties of director","url":"\/15.2-6305\/","token":"15.2\/IV\/63\/15.2-6305","metadata":false},{"id":66574,"structure_id":13760,"section_number":"15.2-6306","catch_line":"Principal and branch offices","url":"\/15.2-6306\/","token":"15.2\/IV\/63\/15.2-6306","metadata":false},{"id":59423,"structure_id":13760,"section_number":"15.2-6307","catch_line":"Legal services","url":"\/15.2-6307\/","token":"15.2\/IV\/63\/15.2-6307","metadata":false},{"id":65640,"structure_id":13760,"section_number":"15.2-6308","catch_line":"Powers of authorities generally","url":"\/15.2-6308\/","token":"15.2\/IV\/63\/15.2-6308","metadata":false},{"id":55812,"structure_id":13760,"section_number":"15.2-6308.1","catch_line":"Approval of Governor required","url":"\/15.2-6308.1\/","token":"15.2\/IV\/63\/15.2-6308.1","metadata":false},{"id":79281,"structure_id":13760,"section_number":"15.2-6309","catch_line":"Two or more authorities may join or cooperate in exercising powers","url":"\/15.2-6309\/","token":"15.2\/IV\/63\/15.2-6309","metadata":false},{"id":80072,"structure_id":13760,"section_number":"15.2-6310","catch_line":"Payments to Commonwealth or political subdivisions thereof","url":"\/15.2-6310\/","token":"15.2\/IV\/63\/15.2-6310","metadata":false},{"id":55691,"structure_id":13760,"section_number":"15.2-6311","catch_line":"Authorities may borrow money, accept contributions, etc","url":"\/15.2-6311\/","token":"15.2\/IV\/63\/15.2-6311","metadata":false},{"id":54769,"structure_id":13760,"section_number":"15.2-6312","catch_line":"Authorities empowered to issue bonds; additional security; liability thereon","url":"\/15.2-6312\/","token":"15.2\/IV\/63\/15.2-6312","metadata":false},{"id":76952,"structure_id":13760,"section_number":"15.2-6313","catch_line":"Bonds to be authorized by resolution of board; terms; sale; negotiability; validity","url":"\/15.2-6313\/","token":"15.2\/IV\/63\/15.2-6313","metadata":false},{"id":85881,"structure_id":13760,"section_number":"15.2-6314","catch_line":"Exemption from taxation; authorities to be municipal corporate instrumentalities of Commonwealth","url":"\/15.2-6314\/","token":"15.2\/IV\/63\/15.2-6314","metadata":false},{"id":82904,"structure_id":13760,"section_number":"15.2-6314.1","catch_line":"Applicability of the Virginia Personnel Act and the Virginia Public Procurement Act","url":"\/15.2-6314.1\/","token":"15.2\/IV\/63\/15.2-6314.1","metadata":false},{"id":82914,"structure_id":13760,"section_number":"15.2-6315","catch_line":"Provisions for securing payment of bonds","url":"\/15.2-6315\/","token":"15.2\/IV\/63\/15.2-6315","metadata":false},{"id":66323,"structure_id":13760,"section_number":"15.2-6316","catch_line":"Rights and remedies of obligees","url":"\/15.2-6316\/","token":"15.2\/IV\/63\/15.2-6316","metadata":false},{"id":76358,"structure_id":13760,"section_number":"15.2-6317","catch_line":"Rents, fees and charges; disposition of revenues","url":"\/15.2-6317\/","token":"15.2\/IV\/63\/15.2-6317","metadata":false},{"id":74653,"structure_id":13760,"section_number":"15.2-6318","catch_line":"Investment in bonds issued by authorities","url":"\/15.2-6318\/","token":"15.2\/IV\/63\/15.2-6318","metadata":false},{"id":74540,"structure_id":13760,"section_number":"15.2-6319","catch_line":"Dissolution of authority","url":"\/15.2-6319\/","token":"15.2\/IV\/63\/15.2-6319","metadata":false},{"id":71722,"structure_id":13760,"section_number":"15.2-6320","catch_line":"Powers conferred additional and supplemental; liberal construction","url":"\/15.2-6320\/","token":"15.2\/IV\/63\/15.2-6320","metadata":false},{"id":86862,"structure_id":13760,"section_number":"15.2-6321","catch_line":"Chapter controlling over inconsistent laws","url":"\/15.2-6321\/","token":"15.2\/IV\/63\/15.2-6321","metadata":false},{"id":68944,"structure_id":13760,"section_number":"15.2-6322","catch_line":"Sovereign immunity","url":"\/15.2-6322\/","token":"15.2\/IV\/63\/15.2-6322","metadata":false}],"previous_section":{"id":59423,"structure_id":13760,"section_number":"15.2-6307","catch_line":"Legal services","url":"\/15.2-6307\/","token":"15.2\/IV\/63\/15.2-6307","metadata":false},"next_section":{"id":55812,"structure_id":13760,"section_number":"15.2-6308.1","catch_line":"Approval of Governor required","url":"\/15.2-6308.1\/","token":"15.2\/IV\/63\/15.2-6308.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-6308\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 5 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1954, chapter 645; in 1962, chapter 623; in 1996, chapter 740<\/a>; in 1997, chapter 587<\/a>; in 2005, chapters 869<\/a> and 887<\/a>.<\/p>","references":false,"refers_to":[{"id":76358,"section_number":"15.2-6317","catch_line":"Rents, fees and charges; disposition of revenues","order_by":null,"url":"\/15.2-6317\/"},{"id":55569,"section_number":"2.2-3700","catch_line":"Short title; policy","order_by":null,"url":"\/2.2-3700\/"}],"permalink":{"id":160159,"object_type":"law","relational_id":65640,"identifier":"15.2-6308","token":"15.2\/IV\/63\/15.2-6308","url":"\/15.2-6308\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/15.2-6308\/","token":"15.2\/IV\/63\/15.2-6308","dublin_core":{"Title":"Powers of authorities generally","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-6308","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

An authority<\/span> shall have the following powers:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> To sue and be sued; to adopt and use a common seal and to alter the same as may be deemed expedient; to have perpetual succession; to make and execute contracts<\/span> and other instruments necessary or convenient to the exercise of the powers of the authority<\/span>; and to make and from time to time amend<\/span> and repeal bylaws, rules and regulations, not inconsistent with law<\/span>, to carry into effect the powers and purposes of the authority<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> To foster and stimulate the industrial, social and other economic development of its area of operation<\/span>, including without limitation development for industrial, employment, housing, commercial, recreational, educational and other public purposes; to prepare and carry out plans and projects<\/span> to accomplish such objectives; to provide for the construction, reconstruction, improvement, alteration, maintenance, removal, equipping or repair of any buildings, structures or land of any kind; to sell, lease or rent to others or to develop, operate or manage with others in a joint venture or other partnering arrangement, on such terms as it deems proper and which are consistent with the provisions of § 15.2-6317<\/a>, any lands, dwellings, houses, accommodations, structures, buildings, facilities, or appurtenances embraced within its area of operations<\/span>; to establish, collect and revise the rents charged and terms and conditions of occupancy thereof; to terminate any such lease or rental obligation upon the failure of the lessee or renter to comply with any of the obligations thereof; to arrange or contract<\/span> for the furnishing by any person or agency, public or private, of works, services, privileges<\/span> or facilities in connection with any activity in which the authority<\/span> may engage; to acquire, own, hold, and improve real or personal property; to purchase, lease, obtain options upon, acquire by gift, grant, bequest, devise, easement, dedication or otherwise any real or personal property or any interest therein, which purchase, lease, or acquisition may be made for less than fair market value; to sell, lease, exchange, transfer, assign, or pledge any real or personal property or any interest therein, which sale, lease, or other transfer or assignment may be made for less than fair market value; to dedicate, make a gift of, or lease for a nominal amount, any real or personal property or any interest therein to the Commonwealth, or the localities or agencies, public or private, within the area of operation<\/span> or adjacent to such authority<\/span>, jointly or severally, for public use or benefit, such as, but not limited to, game preserves, playgrounds, park and recreational areas and facilities, hospitals, clinics, schools and airports; to acquire, lease, maintain, alter, operate, improve, expand, sell or otherwise dispose of on-site utility and infrastructure systems or sell any excess service capacity for off-site use; to acquire, lease, construct, maintain and operate and dispose of tracks, spurs, crossings, terminals, warehouses and terminal facilities of every kind and description necessary or useful in the transportation and storage of goods, wares and merchandise; and to insure or provide for the insurance of any real or personal property or operation of the authority<\/span> against any risks or hazards. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> To invest any funds held in reserves or sinking funds, or any funds not required for immediate disbursements, in property or security in which fiduciaries may legally invest funds subject to their control; to purchase its bonds<\/span><\/span> at a price not more than the principal amount thereof and accrued interest, all bonds<\/span><\/span> so purchased to be cancelled. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> To undertake and carry out examinations, investigations, studies and analyses of the business, industrial, agricultural, utility, transportation and other economic development needs, requirements and potentialities of its area of operation<\/span>, or off-site needs, requirements and potentialities which directly affect the successful industrial and economic development of its area of operation<\/span>, and the manner in which such needs and requirements and potentialities are being met, or should be met, in order<\/span> to accomplish the purposes for which it is created; to make use of the facts<\/span> determined in such research and analyses in its own operation; and to make the results of such studies and analyses available to public bodies and to private individuals, groups and businesses, except as such information may be exempted pursuant to the Virginia Freedom of Information Act (§ 2.2-3700<\/a> et seq.). <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> In the discharge of its enumerated powers, to cooperate with the federal government<\/span>, the Commonwealth and the localities within its area of operation<\/span> or adjacent to such authority<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> To appoint an authority<\/span> advisory committee to advise it, consisting of such number of persons as it may deem proper. Such persons so appointed shall be residents of the locality<\/span> in which the authority<\/span> is located. They shall not receive any compensation for their services but may be reimbursed for their necessary traveling and other expenses incurred while on business of the authority<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> To exercise all or any part or combination of powers herein granted. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> To do any and all other acts and things that may be reasonably necessary and convenient to carry out its purposes and powers.\n\t\t\tNo provision of law<\/span> with respect to the acquisition, operation or disposition<\/span> of property by other political subdivisions or public bodies shall be applicable to an authority<\/span> unless specifically stated therein. In any locality<\/span> where planning, zoning or development regulations may apply, the authority<\/span> shall comply with and is subject to those regulations to the same extent as a private commercial or industrial enterprise. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPOWERS OF AUTHORITIES GENERALLY (\u00a7 15.2-6308)\n\nAn authority shall have the following powers:\n\n1. To sue and be sued; to adopt and use a common seal and to alter the same as\nmay be deemed expedient; to have perpetual succession; to make and execute\ncontracts and other instruments necessary or convenient to the exercise of the\npowers of the authority; and to make and from time to time amend and repeal\nbylaws, rules and regulations, not inconsistent with law, to carry into effect\nthe powers and purposes of the authority.\n\n2. To foster and stimulate the industrial, social and other economic development\nof its area of operation, including without limitation development for\nindustrial, employment, housing, commercial, recreational, educational and other\npublic purposes; to prepare and carry out plans and projects to accomplish such\nobjectives; to provide for the construction, reconstruction, improvement,\nalteration, maintenance, removal, equipping or repair of any buildings,\nstructures or land of any kind; to sell, lease or rent to others or to develop,\noperate or manage with others in a joint venture or other partnering\narrangement, on such terms as it deems proper and which are consistent with the\nprovisions of § 15.2-6317, any lands, dwellings, houses, accommodations,\nstructures, buildings, facilities, or appurtenances embraced within its area of\noperations; to establish, collect and revise the rents charged and terms and\nconditions of occupancy thereof; to terminate any such lease or rental\nobligation upon the failure of the lessee or renter to comply with any of the\nobligations thereof; to arrange or contract for the furnishing by any person or\nagency, public or private, of works, services, privileges or facilities in\nconnection with any activity in which the authority may engage; to acquire, own,\nhold, and improve real or personal property; to purchase, lease, obtain options\nupon, acquire by gift, grant, bequest, devise, easement, dedication or otherwise\nany real or personal property or any interest therein, which purchase, lease, or\nacquisition may be made for less than fair market value; to sell, lease,\nexchange, transfer, assign, or pledge any real or personal property or any\ninterest therein, which sale, lease, or other transfer or assignment may be made\nfor less than fair market value; to dedicate, make a gift of, or lease for a\nnominal amount, any real or personal property or any interest therein to the\nCommonwealth, or the localities or agencies, public or private, within the area\nof operation or adjacent to such authority, jointly or severally, for public use\nor benefit, such as, but not limited to, game preserves, playgrounds, park and\nrecreational areas and facilities, hospitals, clinics, schools and airports; to\nacquire, lease, maintain, alter, operate, improve, expand, sell or otherwise\ndispose of on-site utility and infrastructure systems or sell any excess service\ncapacity for off-site use; to acquire, lease, construct, maintain and operate\nand dispose of tracks, spurs, crossings, terminals, warehouses and terminal\nfacilities of every kind and description necessary or useful in the\ntransportation and storage of goods, wares and merchandise; and to insure or\nprovide for the insurance of any real or personal property or operation of the\nauthority against any risks or hazards.\n\n3. To invest any funds held in reserves or sinking funds, or any funds not\nrequired for immediate disbursements, in property or security in which\nfiduciaries may legally invest funds subject to their control; to purchase its\nbonds at a price not more than the principal amount thereof and accrued\ninterest, all bonds so purchased to be cancelled.\n\n4. To undertake and carry out examinations, investigations, studies and analyses\nof the business, industrial, agricultural, utility, transportation and other\neconomic development needs, requirements and potentialities of its area of\noperation, or off-site needs, requirements and potentialities which directly\naffect the successful industrial and economic development of its area of\noperation, and the manner in which such needs and requirements and\npotentialities are being met, or should be met, in order to accomplish the\npurposes for which it is created; to make use of the facts determined in such\nresearch and analyses in its own operation; and to make the results of such\nstudies and analyses available to public bodies and to private individuals,\ngroups and businesses, except as such information may be exempted pursuant to\nthe Virginia Freedom of Information Act (§ 2.2-3700 et seq.).\n\n5. In the discharge of its enumerated powers, to cooperate with the federal\ngovernment, the Commonwealth and the localities within its area of operation or\nadjacent to such authority.\n\n6. To appoint an authority advisory committee to advise it, consisting of such\nnumber of persons as it may deem proper. Such persons so appointed shall be\nresidents of the locality in which the authority is located. They shall not\nreceive any compensation for their services but may be reimbursed for their\nnecessary traveling and other expenses incurred while on business of the\nauthority.\n\n7. To exercise all or any part or combination of powers herein granted.\n\n8. To do any and all other acts and things that may be reasonably necessary and\nconvenient to carry out its purposes and powers.\n\t\t\tNo provision of law with respect to the acquisition, operation or disposition\nof property by other political subdivisions or public bodies shall be applicable\nto an authority unless specifically stated therein. In any locality where\nplanning, zoning or development regulations may apply, the authority shall\ncomply with and is subject to those regulations to the same extent as a private\ncommercial or industrial enterprise.\n\nHISTORY: Code 1950, \u00a7 15-946; 1954, c. 645; 1962, c. 623, \u00a7 15.1-1329; 1996,\nc. 740; 1997, c. 587; 2005, cc. 869, 887.","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}}