                                 CODE OF VIRGINIA

CREATION OF AUTHORITIES (§ 15.2-5602)

A. A locality may by ordinance or resolution, or two or more localities, may by
concurrent ordinances or resolutions, signify their intention to create an
authority under an appropriate name and title containing the word
&#8220;authority.&#8221; Each participating locality shall hold a public
hearing, notice of which shall be given by publication at least once, not less
than seven days prior to the date fixed for the hearing, in a newspaper having
general circulation in the locality. The notice shall contain a brief statement
of the substance of the proposed authority, shall set forth the proposed
articles of incorporation of the authority and shall state the time and place of
the public hearing. The locality, by resolution, may call for a referendum on
the question of the creation of an authority, which shall be held as provided by
&#xA7; 24.2-681 et seq. When a referendum is to be held in more than one
locality, the referendum shall be held on the same date in all of such
localities.

B. The articles of incorporation shall set forth:

   1. The name of the authority and address of its principal office.

   2. A statement that the authority is created under this chapter.

   3. The name of each participating locality.

   4. The names, addresses and terms of office of the first members of the
   authority.

   5. The purpose or purposes for which the authority is to be created.

C. Passage of such ordinance or resolution by the governing body or governing
bodies shall constitute the authority a body politic and corporate of the
Commonwealth.

D. Any locality may become a member of an existing authority, and any locality
which is a member of an existing authority may withdraw therefrom, but no
locality shall be permitted to withdraw from any authority that has outstanding
obligations unless United States securities have been deposited for their
payment or without the unanimous consent of all holders of the outstanding
obligations.

E. Having specified the initial purpose or purposes of the authority in the
articles of incorporation, the governing bodies of the participating localities
may, from time to time by subsequent ordinance or resolution, after public
hearing, modify the articles of incorporation and the purpose or purposes
specified therein. Such modification may be made either with or without a
referendum.

HISTORY: Code 1950, § 15-714.15; 1962, c. 393, § 3, § 15.1-1273; 1975, c.
517; 1996, c. 1021; 1997, c. 587; 2023, cc. 506, 507.