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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>76358</law_id><section_number>15.2-6317</section_number><catch_line>Rents, fees and charges; disposition of revenues</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>15.2-6308</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="15.2">Counties, Cities and Towns</unit><unit label="subtitle" level="2" order_by="1" identifier="IV">Other Governmental Entities</unit><unit label="chapter" level="3" order_by="1" identifier="63">Authorities for Development of Former Federal Areas</unit></structure><text>
						<section><p>The rents, fees and charges established by <span class="dictionary">the authority</span> for the use of its property, <span class="dictionary">projects</span> and facilities and for any other service furnished or provided by <span class="dictionary">the authority</span> shall be fixed so that they, together with other revenues of <span class="dictionary">the authority</span>, shall provide at least sufficient funds to pay the cost of maintaining, repairing and operating <span class="dictionary">the authority</span>, its property, <span class="dictionary">projects</span> and facilities and the principal and interest of any <span class="dictionary"><span class="dictionary">bonds</span></span> issued by <span class="dictionary">the authority</span> or other debts contracted as the same shall become due and payable. A reserve may be accumulated and maintained out of the revenues of <span class="dictionary">the authority</span> for extraordinary repairs and expenses and for such other purposes as may be provided in any resolution authorizing a <span class="dictionary">bond</span> <span class="dictionary">issue</span> or in any trust indenture securing such <span class="dictionary"><span class="dictionary">bonds</span></span>. Subject to such provisions and restrictions as may be set forth in the resolution or in the trust indenture authorizing or securing any of the <span class="dictionary"><span class="dictionary">bonds</span></span> or other obligations issued hereunder, <span class="dictionary">the authority</span> shall have exclusive control of the revenue derived from the operation of <span class="dictionary">the authority</span> and the right to use such revenues in the exercise of its powers and duties set forth in this chapter. No person, firm, association or corporation shall receive any profit or dividend from the revenues, earnings or other funds or <span class="dictionary">assets</span> of such authority other than for debts contracted, for services rendered, for <span class="dictionary">materials</span> and supplies furnished and for other value actually received by <span class="dictionary">the authority</span>.</p></section></text><history>Code 1950, &#xA7; 15-955; 1954, c. 645; 1962, c. 623, &#xA7; 15.1-1338; 1997, c. 587.</history><metadata></metadata></law>
