                                 CODE OF VIRGINIA

POWERS OF AUTHORITY (§ 15.2-5374)

The Authority shall have all powers necessary or convenient to carry out the
general purposes of this chapter, including the power to:

1. Sue and be sued; adopt a seal and alter the same at pleasure; have perpetual
succession; and to make and execute contracts and other instruments necessary or
convenient to the exercise of its powers.

2. Employ such technical experts and such other officers, agents, and employees
as it may require, to fix their qualifications, duties, and compensation, and to
remove such employees at pleasure.

3. Acquire within the territorial limits of the participating localities
embraced by it, by purchase, lease, gift, or otherwise, whatever lands,
buildings, and structures as may be reasonably necessary for the purpose of
establishing, constructing, enlarging, maintaining, and operating one or more
hospitals or health centers.

4. Sell, lease, exchange, transfer, or assign any of its real or personal
property or any portion thereof or interest therein to any person, firm, or
corporation whenever the Authority finds such action to be in furtherance of the
purposes for which the Authority was created.

5. Acquire, establish, construct, enlarge, improve, maintain, equip, and operate
any hospital or health center and any other facility and service for the care
and treatment of sick persons.

6. Make and enforce rules and regulations for the management and conduct of its
business and affairs and for the use, maintenance and operation of its
facilities and properties.

7. Accept gifts and grants, including real or personal property, from the
Commonwealth or any political subdivision thereof and from the United States and
any of its agencies; and accept donations of money, personal property, or real
estate and take title thereto from any person.

8. Make rules and regulations governing the admission, care, and treatment of
patients in such hospital or health center, classify patients as to charges to
be paid by them, if any, and determine the nature and extent of the service to
be rendered patients.

9. Comply with the provisions of the laws of the United States and the
Commonwealth and any rules and regulations made thereunder for the expenditures
of federal or state money in connection with hospitals or health centers and to
accept, receive, and receipt for federal and state money granted the Authority
or granted any of the participating localities embraced by it for hospital or
health center purposes.

10. Borrow money upon its bonds, notes, debentures, or other evidences of
indebtedness issued for the purpose only of acquiring, constructing, improving,
furnishing, or equipping buildings or structures for use as a hospital or health
center, and to secure the same by pledges of its revenues and property as
hereafter provided. This power shall include the power to refinance all or any
portion of such debt, to renegotiate the terms of all or any portion of such
debt, and to retire all or any portion of such debt prior to its maturity date.
This power shall include the power to borrow money upon its bonds, notes,
debentures, or other evidences of indebtedness for the purpose of operations of
any not-for-profit or nonprofit dental or medical facility for which the
Authority or any participating locality has also provided funding pursuant to
this chapter in furtherance of any lease, contract, or agreement entered into by
the Authority pursuant to subdivision 12 or 13. Such power to borrow money upon
its bonds, notes, debentures, or other evidences of indebtedness shall only be
considered by the Authority after receipt of a prospectus, operational budget,
and five-year business plan for the dental or medical facility together with
identification of all revenue and funding resources required to fully meet the
five-year operational budget. Upon receipt, the Authority shall make the
prospectus, operational budget, and business plan available to the public and
enable the public to respond in a public hearing prior to approval being taken
up for consideration. In addition, the prospectus, operational budget, and
business plan shall be reviewed by the State Council of Higher Education for
Virginia prior to approval by the Authority. Thereafter, the Council shall
review the operations of the Authority prior to the exercise of bond authority
pursuant to this subdivision. The Council shall report its findings to the
Chairman of the House Committee on Appropriations and the Chairman of the Senate
Committee on Finance and Appropriations.

11. Execute all instruments necessary or convenient in connection with the
borrowing of money and issuing bonds as herein authorized.

12. Enter into leases and agreements with persons for the construction or
operation or both of a hospital or health center by such persons on land of the
Authority.

13. Contract for the management and operation of any hospital or health center
subject to the control of the Authority; however, the Authority may charge such
rates for service as will enable it to make reasonable compensation for such
management and operation.

14. Assist in or provide for the creation of domestic or foreign stock and
nonstock corporations, limited liability companies, partnerships, limited
partnerships, associations, foundations, or other supporting organizations or
other entities and to purchase, receive, subscribe for, or otherwise acquire,
own, hold, vote, use, employ, sell, mortgage, lend, pledge, or otherwise dispose
of shares of or other interests in or obligations of any domestic or foreign
stock and nonstock corporations, limited liability companies, partnerships,
limited partnerships, associations, foundations, or other supporting
organizations, joint ventures, or other entities organized for any purpose, or
direct or indirect obligations of the United States, or of any other government,
state, territory, governmental district or municipality or of any other
obligations of any domestic or foreign stock or nonstock corporation, limited
liability company, partnership, limited partnership, association, foundation, or
other supporting organization, joint venture or other entity organized for any
purpose or any individual. The investments of any entity wholly owned or
controlled by the Authority that is an &#8220;institution,&#8221; as such term
is defined in &#xA7; 64.2-1100 shall be governed by the Uniform Prudent
Management of Institutional Funds Act (&#xA7; 64.2-1100 et seq.).

15. Participate in joint ventures with individuals, domestic or foreign stock
and nonstock corporations, limited liability companies, partnerships, limited
partnerships, associations, foundations, or other supporting organizations or
other entities for providing medical care or related services or other
activities that the Authority may undertake to the extent that such undertakings
assist the Authority in carrying out the purposes and intent of this chapter.

16. Provide domestic or foreign stock and nonstock corporations, limited
liability companies, partnerships, limited partnerships, associations,
foundations or other supporting organizations, joint ventures or other entities
owned in whole or in part or controlled, directly or indirectly, in whole or in
part, by the Authority with appropriate assistance, including making loans and
providing time of employees, in carrying out any activities authorized by this
chapter.

17. Make loans and provide other assistance to domestic or foreign stock and
nonstock corporations, limited liability companies, partnerships, limited
partnerships, associations, foundations or other supporting organizations, joint
ventures, or other entities.

18. Transact its business, locate its offices and control, directly or through
domestic or foreign stock and nonstock corporations, limited liability
companies, partnerships, limited partnerships, associations, foundations or
other supporting organizations, joint ventures, or other entities, facilities
that will assist or aid the Authority in carrying out the purposes and intent of
this chapter.

19. Procure such insurance, participate in such insurance plans, or provide such
self-insurance, or any combination thereof, as it deems necessary or convenient
to carry out the purposes and provisions of this chapter. The purchase of
insurance, participation in an insurance plan, or creation of a self-insurance
plan by the Authority shall not be deemed a waiver or relinquishment of any
sovereign immunity to which the Authority or its members, officers, directors,
employees, or agents are otherwise entitled.

20. Exercise all other powers granted to nonstock corporations pursuant to
&#xA7; 13.1-826.

21. Receive and review applications for approval of proposed cooperative
agreements submitted by two or more hospitals pursuant to &#xA7; 15.2-5384.1,
and provide recommendations to the Commissioner regarding the approval of such
applications. The Authority may establish a fee structure, and may assess a fee,
to support its review of applications for approval of proposed cooperative
agreements. The amount of the fee that the Authority is authorized to assess the
parties submitting such an application shall not exceed $50,000.

HISTORY: 2007, c. 676; 2008, c. 184; 2013, c. 660; 2015, c. 741.