                                 CODE OF VIRGINIA

ORDINANCE, AGREEMENT OR RESOLUTION CREATING AUTHORITY (§ 53.1-95.4)

A. Each such ordinance, agreement or resolution shall include the following:

   1. The name of the &#8220;authority&#8221; and address of its principal
   office.

   2. The name of each participating political subdivision, together with the
   names, addresses and terms of office of the first members of the board of the
   authority.

   3. The purpose or purposes for which the authority is to be created together
   with, insofar as the governing bodies of the participating political
   subdivisions determine to be practicable, preliminary estimates of capital
   costs and financing proposals for any specific project or projects to be
   undertaken by the authority.

   4. The number of members who shall exercise the powers of the authority and
   the number from each participating political subdivision.

B. Any such ordinance, agreement or resolution that does not set forth the
information required in subdivision A 3 of this section regarding capital cost
estimates and project financing proposals shall also set forth a finding that
inclusion of such information is impracticable.

HISTORY: 1990, c. 837.