                                 CODE OF VIRGINIA

CREATION OF ELECTRIC AUTHORITY; REFERENDUM (§ 15.2-5403)

The governing body of a governmental unit may by ordinance, or the governing
bodies of two or more governmental units may by concurrent ordinances or
agreement authorized by ordinance of each of the respective governmental units,
create an electric authority, under any appropriate name and title containing
the words &#8220;electric authority.&#8221; Upon compliance with the provisions
of this section and §§ 15.2-5404 and 15.2-5405, the authority shall be a
political subdivision of the Commonwealth and a body politic and corporate. Any
such ordinance shall be adopted in accordance with applicable general or special
laws or charter provisions providing for the adoption of ordinances of the
particular governmental unit, and shall be published twice in a newspaper of
general circulation within the governmental unit, with the first notice
appearing no more than 28 days before and the second notice appearing no less
than seven days before adoption.
		No governmental unit shall participate as a member of such an authority unless
and until such participation is authorized by a majority of the voters voting in
a referendum held in the governmental unit on the question of whether or not the
governmental unit should participate in the authority. The referendum shall be
held as provided in §§ 24.2-682 and 24.2-684. The foregoing referendum
requirement shall not apply to the Town of Elkton if the Town creates an
authority by an ordinance that includes articles of incorporation which comply
with the provisions of § 15.2-5404 and also set forth a statement that such
authority shall have only the Town as its sole member throughout its life.

HISTORY: 1979, c. 416, § 15.1-1606; 1997, c. 587; 2006, cc. 929, 941; 2024, cc.
225, 242.