{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/62.1-198.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/62.1-198.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/62.1-198.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/62.1-198.html"}],"law_id":64219,"edition_id":1,"section_id":64219,"structure_id":13206,"section_number":"62.1-198","catch_line":"Legislative findings and purposes","history":"1984, c. 699; 1989, cc. 533, 551; 1990, c. 506; 1998, c. 399; 2000, c. 790; 2001, cc. 652, 661; 2003, c. 561; 2005, cc. 727, 769; 2007, cc. 81, 649, 663; 2008, cc. 3, 24, 238, 259, 504, 605, 613; 2009, cc. 14, 246, 311, 543, 632; 2010, cc. 42, 724, 820; 2011, c. 270; 2023, cc. 440, 441.","full_text":"The General Assembly finds that there exists in the Commonwealth a critical need for additional sources of funding to finance the present and future needs of the Commonwealth for water supply; land conservation or land preservation, including land for parks and other recreational purposes; oyster restoration projects, including planting and replanting with seed oysters, oyster shells, or other material that will catch, support, and grow oysters; wastewater treatment facilities; drainage facilities; solid waste treatment, disposal, and management facilities; recycling facilities; resource recovery facilities; energy conservation and energy efficiency projects; professional sports facilities; certain heavy rail transportation facilities; public safety facilities; airport facilities; the remediation of brownfields and contaminated properties, including properties contaminated by defective drywall; the design and construction of roads, public parking garages, and other public transportation facilities, and facilities for public transportation by commuter rail; construction of local government buildings, including administrative and operations systems and other local government equipment and infrastructure; site acquisition and site development work for economic development projects; community development projects, to include projects related to the production and preservation of housing, including housing for persons and families of low and moderate income; recovered gas energy facilities; the location or retention of federal facilities in the Commonwealth and the support of the transition of former federal facilities from use by the federal government to other uses; and renewable energy projects, including solar, wind, biomass, waste-to-energy, and geothermal. This need can be alleviated in part through the creation of a resources authority. Its purpose is to encourage the investment of both public and private funds and to make loans, grants, and credit enhancements available to local governments to finance water and sewer projects; land conservation or land preservation programs or projects; oyster restoration projects; drainage projects; solid waste treatment, disposal, and management projects; recycling projects; energy conservation and energy efficiency projects; professional sports facilities; resource recovery projects; public safety facilities; airport facilities; the remediation of brownfields and contaminated properties, including properties contaminated by defective drywall; the design and construction of roads, public parking garages, and other public transportation facilities, and facilities for public transportation by commuter rail; site acquisition and site development work for the benefit of economic development projects; community development projects, to include projects related to the production and preservation of housing, including housing for persons and families of low and moderate income; technology; construction of local government buildings, including administrative and operations systems and other local government equipment and infrastructure; infrastructure for broadband services; recovered gas energy facilities; federal facilities or former federal facilities; and renewable energy projects. The General Assembly determines that the creation of an authority for this purpose is in the public interest, serves a public purpose, and will promote the health, safety, welfare, convenience, or prosperity of the people of the Commonwealth.","order_by":null,"text":{"0":{"id":233769,"text":"The General Assembly finds that there exists in the Commonwealth a critical need for additional sources of funding to finance the present and future needs of the Commonwealth for water supply; land conservation or land preservation, including land for parks and other recreational purposes; oyster restoration projects, including planting and replanting with seed oysters, oyster shells, or other material that will catch, support, and grow oysters; wastewater treatment facilities; drainage facilities; solid waste treatment, disposal, and management facilities; recycling facilities; resource recovery facilities; energy conservation and energy efficiency projects; professional sports facilities; certain heavy rail transportation facilities; public safety facilities; airport facilities; the remediation of brownfields and contaminated properties, including properties contaminated by defective drywall; the design and construction of roads, public parking garages, and other public transportation facilities, and facilities for public transportation by commuter rail; construction of local government buildings, including administrative and operations systems and other local government equipment and infrastructure; site acquisition and site development work for economic development projects; community development projects, to include projects related to the production and preservation of housing, including housing for persons and families of low and moderate income; recovered gas energy facilities; the location or retention of federal facilities in the Commonwealth and the support of the transition of former federal facilities from use by the federal government to other uses; and renewable energy projects, including solar, wind, biomass, waste-to-energy, and geothermal. This need can be alleviated in part through the creation of a resources authority. Its purpose is to encourage the investment of both public and private funds and to make loans, grants, and credit enhancements available to local governments to finance water and sewer projects; land conservation or land preservation programs or projects; oyster restoration projects; drainage projects; solid waste treatment, disposal, and management projects; recycling projects; energy conservation and energy efficiency projects; professional sports facilities; resource recovery projects; public safety facilities; airport facilities; the remediation of brownfields and contaminated properties, including properties contaminated by defective drywall; the design and construction of roads, public parking garages, and other public transportation facilities, and facilities for public transportation by commuter rail; site acquisition and site development work for the benefit of economic development projects; community development projects, to include projects related to the production and preservation of housing, including housing for persons and families of low and moderate income; technology; construction of local government buildings, including administrative and operations systems and other local government equipment and infrastructure; infrastructure for broadband services; recovered gas energy facilities; federal facilities or former federal facilities; and renewable energy projects. The General Assembly determines that the creation of an authority for this purpose is in the public interest, serves a public purpose, and will promote the health, safety, welfare, convenience, or prosperity of the people of the Commonwealth.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13206,"edition_id":1,"name":"Virginia Resources Authority","identifier":"21","label":"chapter","depth":2,"order_by":1,"parent_id":12909,"metadata":{},"date_created":"2026-06-26 03:44:26","date_modified":"2026-06-26 03:44:26","permalink":{"id":268673,"object_type":"structure","relational_id":13206,"identifier":"21","token":"62.1\/21","url":"\/62.1\/21\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12909,"edition_id":1,"name":"Waters of the State, Ports and Harbors","identifier":"62.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:00","date_modified":"2026-06-26 03:44:00","permalink":{"id":268199,"object_type":"structure","relational_id":12909,"identifier":"62.1","token":"62.1","url":"\/62.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":85141,"structure_id":13206,"section_number":"62.1-197","catch_line":"Short title","url":"\/62.1-197\/","token":"62.1\/21\/62.1-197","metadata":false},{"id":64219,"structure_id":13206,"section_number":"62.1-198","catch_line":"Legislative findings and purposes","url":"\/62.1-198\/","token":"62.1\/21\/62.1-198","metadata":false},{"id":80022,"structure_id":13206,"section_number":"62.1-199","catch_line":"Definitions","url":"\/62.1-199\/","token":"62.1\/21\/62.1-199","metadata":false},{"id":75414,"structure_id":13206,"section_number":"62.1-200","catch_line":"Creation of Authority","url":"\/62.1-200\/","token":"62.1\/21\/62.1-200","metadata":false},{"id":54824,"structure_id":13206,"section_number":"62.1-201","catch_line":"Board of Directors","url":"\/62.1-201\/","token":"62.1\/21\/62.1-201","metadata":false},{"id":73267,"structure_id":13206,"section_number":"62.1-202","catch_line":"Appointment and duties of Executive Director","url":"\/62.1-202\/","token":"62.1\/21\/62.1-202","metadata":false},{"id":85528,"structure_id":13206,"section_number":"62.1-203","catch_line":"Powers of Authority","url":"\/62.1-203\/","token":"62.1\/21\/62.1-203","metadata":false},{"id":66055,"structure_id":13206,"section_number":"62.1-204","catch_line":"Power to borrow money and issue bonds and credit enhancements","url":"\/62.1-204\/","token":"62.1\/21\/62.1-204","metadata":false},{"id":74781,"structure_id":13206,"section_number":"62.1-205","catch_line":"Power to issue refunding bonds","url":"\/62.1-205\/","token":"62.1\/21\/62.1-205","metadata":false},{"id":71517,"structure_id":13206,"section_number":"62.1-206","catch_line":"Sources of payment and security for bonds and credit enhancements","url":"\/62.1-206\/","token":"62.1\/21\/62.1-206","metadata":false},{"id":69549,"structure_id":13206,"section_number":"62.1-207","catch_line":"Liability of Commonwealth, political subdivisions and members of board of directors","url":"\/62.1-207\/","token":"62.1\/21\/62.1-207","metadata":false},{"id":72376,"structure_id":13206,"section_number":"62.1-208","catch_line":"Authorization, content and sale of bonds and credit enhancements","url":"\/62.1-208\/","token":"62.1\/21\/62.1-208","metadata":false},{"id":58282,"structure_id":13206,"section_number":"62.1-209","catch_line":"Provisions of resolution or trust indenture authorizing issuance of bonds","url":"\/62.1-209\/","token":"62.1\/21\/62.1-209","metadata":false},{"id":69114,"structure_id":13206,"section_number":"62.1-210","catch_line":"Pledge by Authority","url":"\/62.1-210\/","token":"62.1\/21\/62.1-210","metadata":false},{"id":75603,"structure_id":13206,"section_number":"62.1-211","catch_line":"Purchase of bonds by Authority","url":"\/62.1-211\/","token":"62.1\/21\/62.1-211","metadata":false},{"id":83833,"structure_id":13206,"section_number":"62.1-212","catch_line":"Bonds as negotiable instruments","url":"\/62.1-212\/","token":"62.1\/21\/62.1-212","metadata":false},{"id":57674,"structure_id":13206,"section_number":"62.1-213","catch_line":"Validity of signatures of prior members or officers","url":"\/62.1-213\/","token":"62.1\/21\/62.1-213","metadata":false},{"id":64195,"structure_id":13206,"section_number":"62.1-214","catch_line":"Bondholder protection","url":"\/62.1-214\/","token":"62.1\/21\/62.1-214","metadata":false},{"id":72224,"structure_id":13206,"section_number":"62.1-215","catch_line":"Establishment of capital reserve funds","url":"\/62.1-215\/","token":"62.1\/21\/62.1-215","metadata":false},{"id":78168,"structure_id":13206,"section_number":"62.1-216","catch_line":"Purchase and credit enhancements of local obligations","url":"\/62.1-216\/","token":"62.1\/21\/62.1-216","metadata":false},{"id":72905,"structure_id":13206,"section_number":"62.1-216.1","catch_line":"Investigation by Governor of nonpayments; withholding state funds from nonpaying locality; payment of funds withheld; receipts, reports, etc","url":"\/62.1-216.1\/","token":"62.1\/21\/62.1-216.1","metadata":false},{"id":71594,"structure_id":13206,"section_number":"62.1-217","catch_line":"Grants from Commonwealth","url":"\/62.1-217\/","token":"62.1\/21\/62.1-217","metadata":false},{"id":61493,"structure_id":13206,"section_number":"62.1-218","catch_line":"Grants to local governments","url":"\/62.1-218\/","token":"62.1\/21\/62.1-218","metadata":false},{"id":70080,"structure_id":13206,"section_number":"62.1-219","catch_line":"Exemption from taxation","url":"\/62.1-219\/","token":"62.1\/21\/62.1-219","metadata":false},{"id":63260,"structure_id":13206,"section_number":"62.1-220","catch_line":"Bonds as legal investments and securities","url":"\/62.1-220\/","token":"62.1\/21\/62.1-220","metadata":false},{"id":54215,"structure_id":13206,"section_number":"62.1-221","catch_line":"Deposit of money; expenditures; security for deposits","url":"\/62.1-221\/","token":"62.1\/21\/62.1-221","metadata":false},{"id":84057,"structure_id":13206,"section_number":"62.1-222","catch_line":"Annual reports; audit","url":"\/62.1-222\/","token":"62.1\/21\/62.1-222","metadata":false},{"id":74970,"structure_id":13206,"section_number":"62.1-223","catch_line":"Liberal construction of chapter","url":"\/62.1-223\/","token":"62.1\/21\/62.1-223","metadata":false}],"previous_section":{"id":85141,"structure_id":13206,"section_number":"62.1-197","catch_line":"Short title","url":"\/62.1-197\/","token":"62.1\/21\/62.1-197","metadata":false},"next_section":{"id":80022,"structure_id":13206,"section_number":"62.1-199","catch_line":"Definitions","url":"\/62.1-199\/","token":"62.1\/21\/62.1-199","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/62.1-198\/","history_text":"

This law was first created in 1984. The record of its establishment is cataloged in chapter 699 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. Unfortunately, the 1984 \u201cActs\u201d aren\u2019t available online. It has been modified 13 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 1989, chapters 533 and 551; in 1990, chapter 506; in 1998, chapter 399<\/a>; in 2000, chapter 790<\/a>; in 2001, chapters 652<\/a> and 661<\/a>; in 2003, chapter 561<\/a>; in 2005, chapters 727<\/a> and 769<\/a>; in 2007, chapters 81<\/a>, 649<\/a>, and 663<\/a>; in 2008, chapters 3<\/a>, 24<\/a>, 238<\/a>, 259<\/a>, 504<\/a>, 605<\/a>, and 613<\/a>; in 2009, chapters 14<\/a>, 246<\/a>, 311<\/a>, 543<\/a>, and 632<\/a>; in 2010, chapters 42<\/a>, 724<\/a>, and 820<\/a>; in 2011, chapter 270<\/a>; in 2023, chapters 440<\/a> and 441<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":268679,"object_type":"law","relational_id":64219,"identifier":"62.1-198","token":"62.1\/21\/62.1-198","url":"\/62.1-198\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/62.1-198\/","token":"62.1\/21\/62.1-198","dublin_core":{"Title":"Legislative findings and purposes","Type":"Text","Format":"text\/html","Identifier":"\u00a7 62.1-198","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The General Assembly finds that there exists in the Commonwealth a critical need for additional sources of funding to finance the present and future needs of the Commonwealth for water supply; land conservation or land preservation, including land for parks and other recreational purposes; oyster restoration projects<\/span>, including planting and replanting with seed oysters, oyster shells, or other material<\/span> that will catch, support, and grow oysters; wastewater treatment facilities; drainage facilities; solid waste treatment, disposal, and management facilities; recycling facilities; resource recovery facilities; energy conservation and energy efficiency projects<\/span>; professional sports facilities; certain heavy rail transportation facilities; public safety facilities; airport facilities; the remediation of brownfields and contaminated properties, including properties contaminated by defective drywall<\/span>; the design and construction of roads, public parking garages, and other public transportation facilities, and facilities for public transportation by commuter rail; construction of local government<\/span> buildings, including administrative and operations systems and other local government<\/span> equipment and infrastructure; site acquisition and site development work for economic development projects<\/span>; community development projects<\/span>, to include projects<\/span> related to the production and preservation of housing, including housing for persons and families of low and moderate income; recovered gas energy facilities; the location or retention of federal facilities in the Commonwealth and the support of the transition of former federal facilities from use by the federal government<\/span> to other uses; and renewable energy projects<\/span>, including solar, wind, biomass, waste-to-energy, and geothermal. This need can be alleviated in part through the creation of a resources authority<\/span>. Its purpose is to encourage the investment of both public and private funds and to make loans, grants, and credit enhancements<\/span> available to local governments<\/span> to finance water and sewer projects<\/span>; land conservation or land preservation programs or projects<\/span>; oyster restoration projects<\/span>; drainage projects<\/span>; solid waste treatment, disposal, and management projects<\/span>; recycling projects<\/span>; energy conservation and energy efficiency projects<\/span>; professional sports facilities; resource recovery projects<\/span>; public safety facilities; airport facilities; the remediation of brownfields and contaminated properties, including properties contaminated by defective drywall<\/span>; the design and construction of roads, public parking garages, and other public transportation facilities, and facilities for public transportation by commuter rail; site acquisition and site development work for the benefit of economic development projects<\/span>; community development projects<\/span>, to include projects<\/span> related to the production and preservation of housing, including housing for persons and families of low and moderate income; technology; construction of local government<\/span> buildings, including administrative and operations systems and other local government<\/span> equipment and infrastructure; infrastructure for broadband services; recovered gas energy facilities; federal facilities or former federal facilities; and renewable energy projects<\/span>. The General Assembly determines that the creation of an authority<\/span> for this purpose is in the public interest, serves a public purpose, and will promote the health, safety, welfare, convenience, or prosperity of the people of the Commonwealth.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nLEGISLATIVE FINDINGS AND PURPOSES (\u00a7 62.1-198)\n\nThe General Assembly finds that there exists in the Commonwealth a critical need\nfor additional sources of funding to finance the present and future needs of the\nCommonwealth for water supply; land conservation or land preservation, including\nland for parks and other recreational purposes; oyster restoration projects,\nincluding planting and replanting with seed oysters, oyster shells, or other\nmaterial that will catch, support, and grow oysters; wastewater treatment\nfacilities; drainage facilities; solid waste treatment, disposal, and management\nfacilities; recycling facilities; resource recovery facilities; energy\nconservation and energy efficiency projects; professional sports facilities;\ncertain heavy rail transportation facilities; public safety facilities; airport\nfacilities; the remediation of brownfields and contaminated properties,\nincluding properties contaminated by defective drywall; the design and\nconstruction of roads, public parking garages, and other public transportation\nfacilities, and facilities for public transportation by commuter rail;\nconstruction of local government buildings, including administrative and\noperations systems and other local government equipment and infrastructure; site\nacquisition and site development work for economic development projects;\ncommunity development projects, to include projects related to the production\nand preservation of housing, including housing for persons and families of low\nand moderate income; recovered gas energy facilities; the location or retention\nof federal facilities in the Commonwealth and the support of the transition of\nformer federal facilities from use by the federal government to other uses; and\nrenewable energy projects, including solar, wind, biomass, waste-to-energy, and\ngeothermal. This need can be alleviated in part through the creation of a\nresources authority. Its purpose is to encourage the investment of both public\nand private funds and to make loans, grants, and credit enhancements available\nto local governments to finance water and sewer projects; land conservation or\nland preservation programs or projects; oyster restoration projects; drainage\nprojects; solid waste treatment, disposal, and management projects; recycling\nprojects; energy conservation and energy efficiency projects; professional\nsports facilities; resource recovery projects; public safety facilities; airport\nfacilities; the remediation of brownfields and contaminated properties,\nincluding properties contaminated by defective drywall; the design and\nconstruction of roads, public parking garages, and other public transportation\nfacilities, and facilities for public transportation by commuter rail; site\nacquisition and site development work for the benefit of economic development\nprojects; community development projects, to include projects related to the\nproduction and preservation of housing, including housing for persons and\nfamilies of low and moderate income; technology; construction of local\ngovernment buildings, including administrative and operations systems and other\nlocal government equipment and infrastructure; infrastructure for broadband\nservices; recovered gas energy facilities; federal facilities or former federal\nfacilities; and renewable energy projects. The General Assembly determines that\nthe creation of an authority for this purpose is in the public interest, serves\na public purpose, and will promote the health, safety, welfare, convenience, or\nprosperity of the people of the Commonwealth.\n\nHISTORY: 1984, c. 699; 1989, cc. 533, 551; 1990, c. 506; 1998, c. 399; 2000, c.\n790; 2001, cc. 652, 661; 2003, c. 561; 2005, cc. 727, 769; 2007, cc. 81, 649,\n663; 2008, cc. 3, 24, 238, 259, 504, 605, 613; 2009, cc. 14, 246, 311, 543, 632;\n2010, cc. 42, 724, 820; 2011, c. 270; 2023, cc. 440, 441.","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}}