                                 CODE OF VIRGINIA

INTENT OF GENERAL ASSEMBLY (§ 15.2-5401)

It is the intent of the General Assembly by the passage of this chapter to
authorize the creation of electric authorities by localities of this
Commonwealth, either acting jointly or separately, in order to provide
facilities for the generation, transmission, and distribution of electric power
and energy, and to vest such authorities with all powers that may be necessary
to enable them to accomplish such purposes, which powers shall be exercised for
the benefit of the inhabitants of the Commonwealth.
		It is further the intent of the General Assembly that in order to achieve the
economies and efficiencies made possible by the proper planning, financing,
sizing and location of facilities for the generation, transmission, and
distribution of electric power and energy which are not practical for any
locality or electric authority acting alone, and to insure an adequate, reliable
and economical supply of electric power and energy to the inhabitants of the
Commonwealth, electric authorities shall be authorized to jointly cooperate and
plan, finance, develop, own and operate with other electric authorities and
other public corporations and governmental entities and investor-owned electric
power companies and electric power cooperative associations or corporations,
within or outside the Commonwealth, electric generation, transmission, and
distribution facilities in order to provide for the present and future
requirements of the electric authorities and their participating localities. It
is further the intent of the General Assembly that an authority that is created
by the Town of Elkton and that is limited by its articles of incorporation to
having the Town of Elkton as its sole member throughout its life is authorized
to become an authority to distribute electric energy for retail sale. The
distribution of electric energy for retail sale by an authority that is created
by the Town of Elkton and that is limited by its articles of incorporation to
having the Town of Elkton as its sole member throughout its life shall be
limited to the geographic area that was served as of January 1, 2006, by the
Town of Elkton.
		Accordingly, it is determined that the exercise of the powers granted herein
will benefit the inhabitants of the Commonwealth and serve a valid public
purpose in improving and otherwise promoting their health, welfare and
prosperity.
		This chapter shall be liberally construed in conformity with these intentions.

HISTORY: 1979, c. 416, § 15.1-1604; 1997, c. 587; 2006, cc. 929, 941.