                                 CODE OF VIRGINIA

POWERS (§ 15.2-5805)

In addition to the powers set forth elsewhere in this chapter, the Authority
may:

1. Adopt and alter an official seal;

2. Sue and be sued in its own name;

3. Adopt bylaws, rules and regulations to carry out the provisions of this
chapter;

4. Maintain an office at such place as the Authority may designate;

5. Employ, either as regular employees or independent contractors, consultants,
engineers, architects, accountants, attorneys, financial experts, construction
experts and personnel, superintendents, managers and other professional
personnel, personnel, and agents as may be necessary in the judgment of the
Authority, and fix their compensation;

6. Determine the locations of, develop, establish, construct, erect, acquire,
own, repair, remodel, add to, extend, improve, equip, operate, regulate, and
maintain facilities to the extent necessary to accomplish the purposes of the
Authority;

7. Acquire, hold, lease, use, encumber, transfer, or dispose of real and
personal property, including a lease of its property or any interest therein
whatever the condition thereof, whether or not constructed or acquired, to the
Commonwealth or any political subdivision of the Commonwealth. The Commonwealth
and any such political subdivision are authorized to acquire or lease such
property or any interest therein; however, the Commonwealth shall not enter into
any such lease or purchase agreement unless such lease or purchase agreement has
first been approved pursuant to subsections E and F of &#xA7; 15.2-5806;

8. Enter into contracts of any kind, and execute all instruments necessary or
convenient with respect to its carrying out the powers in this chapter to
accomplish the purposes of the Authority;

9. Operate, enter into contracts for the operation of, and regulate the use and
operation of facilities developed under the provisions of the chapter;

10. Fix and revise from time to time and charge and collect rates, rents, fees,
or other charges for the use of facilities or for services rendered in
connection with the facilities;

11. Borrow money from any source for any valid purpose, including working
capital for its operations, reserve funds, or interest, and to mortgage, pledge,
or otherwise encumber the property or funds of the Authority and to contract
with or engage the services of any person in connection with any financing,
including financial institutions, issuers of letters of credit, or insurers;

12. Issue bonds under this chapter;

13. Receive and accept from any source, private or public, contributions, gifts,
or grants of money or property; and

14. Do all things necessary or convenient to carry out the powers granted by
this chapter.

HISTORY: 1992, c. 823, § 15.1-227.75; 1995, cc. 613, 629; 1996, cc. 950, 1038;
1997, cc. 587, 884; 2005, c. 106.