                                 CODE OF VIRGINIA

RENTS, FEES, AND CHARGES; DISPOSITION OF REVENUES (§ 2.2-2348)

The rents, fees, and charges established by the Authority for the use of its
property, projects, and facilities and for any other service furnished or
provided by the Authority shall be fixed so that they, together with other
revenues of the Authority, shall provide at least sufficient funds to pay the
cost of maintaining, repairing, and operating the Authority; its property,
projects, and facilities; and the principal and interest of any bonds issued by
the Authority or other debts contracted as the same shall become due and
payable. A reserve may be accumulated and maintained out of the revenues of the
Authority for extraordinary repairs and expenses and for such other purposes as
may be provided in any resolution authorizing a bond issue or in any trust
indenture securing such bonds. Subject to such provisions and restrictions as
may be set forth in the resolution or in the trust indenture authorizing or
securing any of the bonds or other obligations issued hereunder, the Authority
shall have exclusive control of the revenue derived from the operation of the
Authority and the right to use such revenues in the exercise of its powers and
duties set forth in this article. No person, firm, association, or corporation
shall receive any profit or dividend from the revenues, earnings, or other funds
or assets of such authority other than for debts contracted, for services
rendered, for materials and supplies furnished, and for other value actually
received by the Authority.
		The accounts of the Authority shall be audited annually by the Auditor of
Public Accounts, or his legally authorized representative, and the cost of such
audit shall be borne by the Authority. Copies of the annual audit shall be
distributed to the Governor and to the Chairmen of the House Committee on
Appropriations and the Senate Committee on Finance and Appropriations.

HISTORY: 2011, c. 716.