                                 CODE OF VIRGINIA

POWERS OF THE BOARD (§ 23.1-3118)

A. The board has, in addition to such other powers, all the corporate powers
given to corporations by the provisions of Title 13.1, except in those cases
where, by the express terms of its provisions, this law is confined to
corporations created under that title.

B. The board may issue bonds upon the advice of bond counsel and a financial
institution with expertise in bonds and investments. Bonds issued under the
provisions of this section shall not be deemed to constitute a debt or a pledge
of the faith and credit of the Commonwealth or any of its political subdivisions
other than the Authority.

C. The board may accept, execute, and administer any trust in which it may have
an interest under the terms of any instrument creating the trust.

D. The board may lease property or hold any property for which it may acquire
the title and dispose of such property in a manner that will benefit the
Authority.

E. The board may enter into agreements with public institutions of higher
education and private institutions of higher education in the Commonwealth to
provide adult education, continuing education, undergraduate-level education,
and graduate-level instructional programs. The board may enter into agreements
with local school boards and other entities to provide such programs as it deems
necessary and appropriate to carry out the purposes of the Authority. The board
shall, subject to the availability of funding other than from general funds,
seek opportunities to collaborate with local comprehensive community colleges to
meet specialized noncredit workforce training needs identified by industry.
However, if local comprehensive community colleges are unable to meet identified
industry needs, then the board may seek to collaborate with other education
providers to provide or may provide Center-delivered specialized noncredit
workforce training independent of local comprehensive community colleges.

F. The board may establish, with such funds as are appropriated for this purpose
or made available to it, the Center.

G. Notwithstanding any provision of law to the contrary, any real estate and
tangible personal property held or acquired by the board is exempt from any
prohibition of the use of noncash assistance as matching funds.

H. The board may, on behalf of the Authority or the Center, apply for, accept,
and direct the expenditure of gifts, grants, or donations from public or private
sources to enable it to carry out the purposes of this article. Any locality may
make gifts and donations of real property, personal property, or money to the
Authority.

HISTORY: 1997, c. 813, §§ 23-231.16, 23-231.18; 1998, cc. 45, 55, 360; 2001,
c. 132; 2016, c. 588; 2024, c. 220.