                                 CODE OF VIRGINIA

POWERS OF AUTHORITY GENERALLY (§ 15.2-5604)

Each authority created hereunder shall be a political subdivision of the
Commonwealth Virginia and shall be an instrumentality exercising public and
essential governmental functions to provide for the public health and welfare.
Each authority is authorized and empowered:

1. To have existence for such term of years as specified by the participating
localities;

2. To contract and be contracted with; to sue and be sued; to make and from time
to time amend and repeal bylaws, rules and regulations not inconsistent with
general law to carry out its purposes; and to adopt a corporate seal and alter
the same at its pleasure;

3. To acquire, purchase, lease as lessee, construct, reconstruct, improve,
extend, operate and maintain projects within or outside any of the participating
localities; and to acquire by gift or purchase lands or rights in land in
connection therewith and to sell, lease as lessor, transfer or dispose of any
property or interest therein acquired by it, at any time;

4. To lease all or any part of any project upon any such terms or conditions and
for such term of years as it may deem advisable to carry out the provisions of
this chapter;

5. To regulate the uses of all lands and facilities under control of the
authority;

6. To fix and revise from time to time and to charge and collect fees, rents and
other charges for the use of any project or facilities thereof owned or
controlled, and to establish and revise from time to time regulations in respect
of the use, operation and occupancy of any such project or facilities thereof;

7. To enter into contracts with any participating locality, the Commonwealth, or
any other political subdivision, agency or instrumentality thereof, any federal
agency or with any person providing for or relating to any project, including
contracts for the management or operation of all or any part of a project;

8. To accept grants and gifts from any participating locality, the Commonwealth
or any other political subdivision, agency or instrumentality thereof, any
federal agency and from any person;

9. To issue bonds and refunding bonds of the authority, such bonds to be payable
solely from funds of the authority; and from such other sources of payment as
are authorized by &#xA7; 15.2-5607;

10. To make and enter into all contracts and agreements necessary or incidental
to the performance of its duties and the execution of its powers under this
chapter, including a trust agreement or trust agreements securing any bonds or
refunding bonds issued hereunder; and

11. To do all acts and things necessary or convenient to carry out the powers
granted by this chapter.

HISTORY: Code 1950, § 15-714.17; 1962, c. 393, § 5, § 15.1-1275; 1973, c.
238; 1986, c. 442; 1997, c. 587.