                                 CODE OF VIRGINIA

POWERS OF AUTHORITY (§ 15.2-5504)

The Authority shall have the following powers together with all powers
incidental thereto or necessary for the performance of those hereinafter stated:

1. To sue and be sued and to prosecute and defend, at law or in equity, in any
court having jurisdiction of the subject matter and of the parties;

2. To adopt and use a corporate seal and to alter the same at pleasure;

3. To contract and be contracted with;

4. To employ and pay compensation to such employees and agents, including
attorneys, as the board of directors deem necessary in carrying on the business
of the Authority;

5. To exercise all powers expressly given the Authority by the governing bodies
of the participating localities which established the Authority and to establish
bylaws and make all rules and regulations, not inconsistent with the provisions
of this chapter, deemed expedient for the management of the Authority&#8217;s
affairs;

6. To borrow money and to accept contributions, grants and other financial
assistance from the United States of America and agencies or instrumentalities
thereof, the Commonwealth, or any political subdivision, agency, or public
instrumentality of the Commonwealth;

7. To formulate a tourism development agenda for each participating locality in
the LENOWISCO and Cumberland Plateau Planning District Commissions;

8. To receive and expend moneys on behalf of tourism development;

9. To coordinate the participating localities&#8217; individual tourism plans;
and

10. To form corporations, limited partnerships or limited liability companies
for the purposes of fostering or promoting tourism, job creation, economic
development, or the sale of goods manufactured and produced in Virginia.

HISTORY: 1993, c. 663, § 15.1-1399.21; 1997, c. 587; 2004, c. 806.