                                 CODE OF VIRGINIA

FURTHER POWERS (§ 15.2-6006)

The Authority, to accomplish its general purpose, is given the following powers,
namely:

1. To enter into contractual agreements in furtherance of its purpose;

2. To rent, lease, buy, own, acquire and dispose of such property, real or
personal, as the Authority deems proper to carry out any of the purposes and
provisions of this chapter, including the execution of leases with option to
purchase;

3. To apply for and accept grants or loans of money or other property from any
federal agency for any of the purposes authorized in this chapter, and to expend
or use the same in accordance with the directions and requirements attached
thereto or imposed thereon by any such federal agency;

4. To engage in economic development marketing and business attraction
activities and to pay from the Authority&#8217;s funds any and all expenses
incurred in connection with such economic development marketing and business
attraction activities;

5. To pay from the Authority&#8217;s funds any and all expenses incurred by the
Authority including, but not limited to, administrative, operational, personnel,
consultant, legal, marketing, business attraction, advertising, promotional, and
any other expenses incurred in furtherance of the purposes of this chapter; and

6. To do and perform any act or function that is in accord with the purposes of
the chapter, including (i) borrowing money and (ii) employing such persons as
the Board deems necessary to carry on the business of the Authority.

HISTORY: 1988, c. 833, § 15.1-1641; 1990, c. 341; 1997, c. 587; 2004, cc. 36,
177.