                                 CODE OF VIRGINIA

POWERS OF AUTHORITY (§ 15.2-5431.11)

Each authority is an instrumentality exercising public and essential
governmental functions to provide for the public health and welfare, and each
authority may:

1. Exist for a term of 50 years as a corporation, and for such further period or
periods as may from time to time be provided by appropriate resolutions of the
political subdivision creating the authority; however, the term of an authority
shall not be extended beyond a date 50 years from the date of the adoption of
such resolutions;

2. Adopt, amend or repeal bylaws, rules and regulations, not inconsistent with
this chapter or the general laws of the Commonwealth, for the regulation of its
affairs and the conduct of its business and to carry into effect its powers and
purposes;

3. Adopt an official seal and alter the same at pleasure;

4. Maintain an office at such place or places as it may designate;

5. Sue and be sued;

6. Acquire, construct, reconstruct, improve, enlarge, operate or extend any
project;

7. Issue revenue bonds of the authority, such bonds to be payable solely from
revenues to pay all or a part of the cost of a project;

8. Borrow at such rates of interest as authorized by the general law for
authorities and as the authority may determine and issue its notes, bonds or
other obligations therefor. The political subdivision creating the authority may
lend, advance or give money to such authority;

9. Fix, charge and collect rates, fees and charges for the use of or for the
services furnished by or for the benefit from any project operated by the
authority. Such rates, fees, rents and charges shall be charged to and collected
from any person contracting for the services or the lessee or tenant who uses or
occupies any real estate that is served by or benefits from any such project.
Connection and service fees established by an authority shall be fair and
reasonable. Such fees shall be reviewed by the authority periodically and shall
be adjusted, if necessary, to assure that they continue to be fair and
reasonable; and

10. Contract with any person, political subdivision, federal agency, or any
public authority or unit, on such terms as the authority deems proper, for the
purpose of acting as a billing and collecting agent for service fees, rents or
charges imposed by an authority.

HISTORY: 2003, c. 643.