Code of Virginia - Title 2.2 Administration Of Government - Chapter 22 Authorities Collegial Bodies

2.2-2200 Definitions
As used in this chapter, unless the context requires a different meaning: "Authority" means the respective political subdivisions of the Commonwealth created in this subpart. ...

2.2-2201 Short title; definitions
A. This article shall be known and may be cited as the "Virginia Commercial Space Flight Authority Act". B. As used in this article, unless ...

2.2-2202 Declaration of public purpose; Authority created
A. The General Assembly has determined that there exists in the Commonwealth a need to (i) disseminate knowledge pertaining to scientific and technological research and ...

2.2-2203 Board of directors; members and officers; Executive Director
The Authority shall be governed by a board of directors consisting of twelve members, four of whom shall be the President of the Center for ...

2.2-2204 Powers of the Authority
The Authority is granted all powers necessary or convenient for the carrying out of its statutory purposes, including, but not limited to, the power to: ...

2.2-2205 Form, terms, execution and sale of bonds; use of proceeds; interim receipts or temporary bonds; los...
The bonds of each issue shall be dated, shall bear interest at such rates as are fixed by the Authority, or as may be determined ...

2.2-2206 Trust indenture or agreement securing bonds
In the discretion of the Authority, any bonds issued under the provisions of this article may be secured by a trust indenture or agreement by ...

2.2-2207 Moneys received deemed trust funds
All moneys received pursuant to the authority of this article, whether as proceeds from the sale of bonds or as revenues, shall be deemed to ...

2.2-2208 Proceedings by bondholder or trustee to enforce rights
Any holder of bonds issued under the provisions of this article or any of the coupons appertaining thereto, and the trustee under any trust indenture ...

2.2-2209 Bonds made securities for investment and deposit
Bonds issued by the Authority under the provisions of this article are made securities in which all public officers and public bodies of the Commonwealth ...

2.2-2210 Refunding bonds; bonds for refunding and for costs of additional projects
The Authority may provide for the issuance of refunding bonds of the Authority for the purpose of refunding any bonds then outstanding that have been ...

2.2-2211 Grants or loans of public or private funds
The Authority may accept, receive, receipt for, disburse, and expend federal and state moneys and other moneys, public or private, made available by grant or ...

2.2-2212 Moneys of Authority
All moneys of the Authority, from whatever source derived, shall be paid to the treasurer of the Authority. Such moneys shall be deposited in the ...

2.2-2213 Forms of accounts and records; audit; annual report
The accounts and records of the Authority showing the receipt and disbursement of funds from whatever source derived, shall be in a form prescribed by ...

2.2-2214 Exemption from taxes or assessments
The exercise of the powers granted by this article shall be in all respects for the benefit of the people of the Commonwealth, for the ...

2.2-2215 Exemption of Authority from personnel and procurement procedures
The provisions of the Virginia Personnel Act (§ 2.2-2900 et seq.) and the Virginia Public Procurement Act (§ 2.2-4300 et seq.) of this title shall ...

2.2-2216 Appropriations by any government
Any government may make appropriations for the acquisition, construction, improvement, maintenance or operation of any project acquired, constructed, improved, maintained or operated by the Authority. ...

2.2-2217 Conveyance, lease or transfer of property by a city or county to the Authority
Any city or county within the Commonwealth in order to provide for the construction, reconstruction, improvement, repair or management of any project, or in order ...

2.2-2218 Short title; definitions
A. This article may be cited as the "Innovative Technology Authority Act of 1984." B. As used in this article, unless the context requires a ...

2.2-2219 Declaration of public purpose; Authority created
A. It is found and determined by the General Assembly that there exists in the Commonwealth of Virginia a need to (i) promote the economic ...

2.2-2220 Board of directors; members; President
The Authority shall be governed by a board of directors consisting of 13 members appointed by the Governor as follows: two members shall be the ...

2.2-2221 Powers of the Authority
The Authority is granted all powers necessary or convenient for the carrying out of its statutory purposes, including, but not limited to, the following rights ...

2.2-2221.01 Designation of staff of Center for Innovative Technology.
The Board of the Authority may designate the President and staff of the Center for Innovative Technology to carry out the day-to-day operations and activities ...

2.2-2221.1 Reporting requirement for the Center for Innovative Technology
The president of the Center for Innovative Technology shall report annually to the Joint Commission on Technology and Science, created pursuant to § 30-85, regarding ...

2.2-2222 Form, terms, execution and sale of bonds; use of proceeds; interim receipts or temporary bonds; los...
The bonds of each issue shall be dated, shall bear interest at such rates as shall be fixed by the Authority, shall mature at such ...

2.2-2223 Trust agreement securing bonds
In the discretion of the Authority any bonds issued under the provisions of this article may be secured by a trust agreement by and between ...

2.2-2224 Moneys received deemed trust funds
All moneys received pursuant to the authority of this article, whether as proceeds from the sale of bonds or as revenues, shall be deemed to ...

2.2-2225 Proceedings by bondholder or trustee to enforce rights
Any holder of bonds issued under the provisions of this article or any of the coupons appertaining thereto, and the trustee under any trust agreement, ...

2.2-2226 Bonds made securities for investment and deposit
Bonds issued by the Authority under the provisions of this article shall be securities in which all public officers and public bodies of the Commonwealth ...

2.2-2227 Revenue refunding bonds; bonds for refunding and for cost of additional projects
The Authority may provide for the issuance of revenue refunding bonds of the Authority for the purpose of refunding any bonds then outstanding that have ...

2.2-2228 Grants or loans of public or private funds
The Authority may accept, receive, receipt for, disburse, and expend federal and state moneys and other moneys, public or private, made available by grant or ...

2.2-2229 Moneys of Authority; examination of books by the Auditor of Public Accounts
All moneys of the Authority, from whatever source derived, shall be paid to the treasurer of the Authority. Such moneys shall be deposited in the ...

2.2-2230 Exemption from taxes or assessments
The exercise of the powers granted by this article shall be in all respects for the benefit of the people of the Commonwealth, for the ...

2.2-2231 Exemption of Authority from personnel and procurement procedures
The provisions of the Virginia Personnel Act (§ 2.2-2900 et seq.) of and the Virginia Public Procurement Act (§ 2.2-4300 et seq.) of this title ...

2.2-2232 Auxiliaries
A. The Governor may provide for the formation of a nonstock corporation to carry out the purpose of this article. The board of directors of ...

2.2-2233 Advanced Communications Assistance Fund created; purposes
A. From such funds as may be appropriated by the General Assembly and any gifts, grants, or donations from public or private sources, there is ...

2.2-2233.1 Commonwealth Technology Research Fund; continued; purposes; report
A. From such funds as may be appropriated by the General Assembly and any gifts, grants, or donations from public or private sources, there is ...

2.2-2233.2 Biotechnology Commercialization Loan Fund; created; purposes; report
A. From such funds as may be appropriated by the General Assembly and any gifts, grants, or donations from public or private sources, there is ...

2.2-2234 Short title; declaration of public purpose; Authority created
A. This article shall be known and may be cited as the "Virginia Economic Development Partnership Act." B. The General Assembly has determined that there ...

2.2-2235 Board of directors; members and officers; Executive Director
The Authority shall be governed by board of directors consisting of the Secretary of Commerce and Trade, the Secretary of Finance, and the Chancellor of ...

2.2-2236 Powers and duties of the Executive Director
The Executive Director shall employ or retain such agents or employees subordinate to the Executive Director as may be necessary to fulfill the duties of ...

2.2-2237 Powers of Authority
The Authority is granted all powers necessary or convenient for the carrying out of its statutory purposes, including, but not limited to, the power to: ...

2.2-2238 Economic development services
A. It shall be the duty of the Authority to encourage, stimulate, and support the development and expansion of the economy of the Commonwealth. The ...

2.2-2238.1 Special economic development services in rural communities; strategic plan
A. In order to assist the rural communities of the Commonwealth, the Authority shall develop a program for reviewing existing economic development programs of rural ...

2.2-2239 Planning and research
It shall also be the duty of the Authority to: 1. Assist in the development of the comprehensive economic development strategy for the Commonwealth, starting ...

2.2-2240 Nonstock corporation to assist economic development
The Board may establish nonprofit, nonstock corporations under Chapter 10 (§ 13.1-801 et seq.) of Title 13.1 as public instrumentalities exercising public and essential governmental ...

2.2-2240.1 Grants paid to the Authority to promote research, development, and commercialization of products...
A. The General Assembly may appropriate grants to the Authority for use by a nonprofit, public benefit research institute that (i) conducts research and development ...

2.2-2241 Moneys of Authority
All moneys of the Authority, from whatever source derived, shall be paid to the treasurer of the Authority. Such moneys shall be deposited in the ...

2.2-2242 Forms of accounts and records; audit; annual report
The accounts and records of the Authority showing the receipt and disbursement of funds from whatever source derived shall be in a form prescribed by ...

2.2-2243 Exemptions from taxes or assessments
The exercise of the powers granted by this article shall be in all respects for the benefit of the people of the Commonwealth, for the ...

2.2-2244 Exemption of Authority from personnel and procurement procedures
The provisions of the Virginia Personnel Act (§ 2.2-2900 et seq.) of and the Virginia Public Procurement Act (§ 2.2-4300 et seq.) of this title ...

2.2-2245 Appropriations by any government
Any government may make appropriations for the acquisition, construction, improvement, maintenance or operation of any property acquired, constructed, improved, maintained or operated by the Authority. ...

2.2-2246 Conveyance, lease or transfer of property by a city or county to the Authority
Any city or county within the Commonwealth in order to provide for the construction, reconstruction, improvement, repair or management of any property, or in order ...

2.2-2247 through 2.2-2259
Repealed by Acts 2003, cc. 981 and 1021. ...

2.2-2260 Short title; definition
A. This article may be cited as Virginia Public Building Authority Act of 1981. B. As used in this article, unless the context requires a ...

2.2-2261 Virginia Public Building Authority created; purpose; membership; terms; expenses; staff
There is created a political subdivision of the Commonwealth to be known as the "Virginia Public Building Authority." The Authority is created for the purpose ...

2.2-2262 Board of directors
The powers of the Authority shall be exercised by a governing body consisting of the members of the Authority acting as a board. The Board ...

2.2-2263 Powers and duties of Authority; limitations
A. The Authority is granted all powers necessary or convenient for carrying out its purposes, including, but not limited to, the following powers to: 1. ...

2.2-2264 Revenue bonds generally
The Authority may, with the consent of the Governor, provide for the issuance of revenue bonds of the Authority for the purpose of paying all ...

2.2-2265 Trust agreement securing bonds
In the discretion of the Authority any bonds issued under the provisions of this article may be secured by a trust agreement by and between ...

2.2-2266 Rents, fees and charges for financing or refinancing, services or use of facilities; use and dispos...
The Authority may fix, revise, charge, and collect rates, fees, and other charges for the financing or refinancing of, the use of or for the ...

2.2-2267 Moneys received deemed trust funds
All moneys received pursuant to the authority of this article, whether as proceeds from the sale of bonds or as revenues, shall be deemed to ...

2.2-2268 Proceedings by bondholder or trustee to enforce rights
Any holder of bonds issued under the provisions of this article or any of the coupons appertaining thereto, and the trustee under any trust agreement, ...

2.2-2269 Bonds made securities for investment and deposit
Bonds issued by the Authority under the provisions of this article shall be securities in which all public officers and public bodies of the Commonwealth ...

2.2-2270 Revenue refunding bonds; bonds for refunding and for cost of additional projects
The Authority may provide for the issuance of revenue refunding bonds of the Authority for the purpose of refunding any obligations then outstanding which have ...

2.2-2271 Grants or loans of public or private funds
The Authority may accept, receive, receipt for, disburse, and expend federal and state moneys and other moneys, public or private, including proceeds of the Authority's ...

2.2-2272 Moneys of Authority; audit
All moneys of the Authority, from whatever source derived, shall be paid to the treasurer of the Authority. Such moneys shall be deposited in the ...

2.2-2273 Contracts, leases and other arrangements
A. In connection with the operation of a facility owned or controlled by the Authority, the Authority may enter into contracts, leases, and other arrangements ...

2.2-2274 Resolutions, rules and regulations, etc
The Authority may adopt, amend, and repeal such reasonable resolutions, rules, regulations, and orders as it deems necessary for the management, government, and use of ...

2.2-2275 Competition in award of contracts; contractors to give surety; terms of contracts
If any project or any portion thereof or any improvement thereof shall be constructed, or furnished pursuant to a contract and the estimated cost thereof ...

2.2-2276 Eminent domain; right of entry
The Authority is vested with the power of eminent domain and may exercise it for the purposes set forth in this article. If the owner, ...

2.2-2277 Jurisdiction of suits against Authority; service of process
The Circuit Court of the City of Richmond shall have exclusive jurisdiction of any suit brought in Virginia against the Authority, and process in any ...

2.2-2278 Exemption from taxes or assessments
The exercise of the powers granted by this article shall be in all respects for the benefit of the people of the Commonwealth, for the ...

2.2-2279 Short title; definitions
A. This article shall be known and may be cited as the "Virginia Small Business Financing Act." B. As used in this article, unless the ...

2.2-2280 Declaration of public purpose; Authority created
A. The General Assembly finds and determines that (i) there exists in the Commonwealth a need to assist small business in the Commonwealth in obtaining ...

2.2-2281 Construction of article
Nothing contained in this article shall be construed as a restriction or limitation upon any powers that the Authority might otherwise have under any other ...

2.2-2282 Board of directors; membership; terms, compensation and expenses; chairman, vice-chairman, secretar...
A. The Board shall consist of the State Treasurer or his designee, the Director of the Department of Business Assistance, and nine members who are ...

2.2-2283 Meetings of the Board
Board meetings shall be held at the call of the chairman or whenever any four members so request. In any event, the Board shall meet ...

2.2-2284 Executive Director; appointment; duties
The Director of the Department of Business Assistance shall appoint the Executive Director of the Authority. The Executive Director shall administer, manage and direct the ...

2.2-2285 Powers of the Authority
The Authority is granted all powers necessary or appropriate to carry out and effectuate its purposes including, but not limited to, the following powers to: ...

2.2-2286 Power to condemn
The Authority may condemn property in furtherance of its purposes; provided, that any such condemnation shall be approved by the governing body of the municipality ...

2.2-2287 Power to borrow money and issue bonds
The Authority may borrow money and issue bonds to pay the cost of the projects for which the bonds have been issued, including but not ...

2.2-2288 Power to issue bonds to purchase ninety percent guaranteed portion of loans
In addition to and not as a limitation upon the powers to issue bonds as elsewhere expressed in this article, the Authority may, with proceeds ...

2.2-2289 Power to issue umbrella bonds
In addition to the powers of the Authority to issue bonds, it may issue bonds, the proceeds of which, after payment of the costs of ...

2.2-2290 Insurance or guarantee fund
There is created an insurance or guarantee fund of the Authority that may be used for any of the following purposes: 1. To insure the ...

2.2-2291 Security for bonds; fees and expenses; limitations
A. The bonds or instruments with respect to which financial assistance is provided by the Authority shall be secured or unsecured in a manner approved ...

2.2-2292 Public hearing and approval
Whenever federal law requires public hearings and public approval as a prerequisite to obtaining federal tax exemption for the interest paid on industrial development bonds ...

2.2-2293 Loans to lenders; conditions
The Authority may make, and undertake commitments to make, loans to lenders under terms and conditions requiring the proceeds thereof to be used by the ...

2.2-2294 Investment in, purchase or assignment of loans; conditions
The Authority may invest in, purchase or make commitments to invest in or purchase, and take assignments or make commitments to take assignments, of loans ...

2.2-2295 Regulations of the Authority
Prior to carrying out the powers granted under §§ 2.2-2293 and 2.2-2294, the Authority shall adopt rules and regulations governing its activities including but not ...

2.2-2296 How bonds paid and secured
Except as may otherwise be expressly provided by the Authority in proceedings relating to a particular issue of bonds, every issue of its bonds shall ...

2.2-2297 Liability of Commonwealth, political subdivisions and members of Board
No bonds issued or loans or loan guarantees made by the Authority under this article shall constitute a debt, liability or general obligation of the ...

2.2-2298 Authorization of bonds by resolution; contents of bond sale; manner
The bonds shall be authorized by a resolution of the Board, shall bear such date or dates, and shall mature at such time as such ...

2.2-2299 Resolution authorizing issuance of bonds; provisions
Any resolution authorizing the issuance of bonds may contain provisions for: 1. Pledging all or any part of the revenues of the Authority to secure ...

2.2-2300 Pledge by Authority
Any pledge made by the Authority shall be valid and binding from the time when the pledge was made. The revenues or properties so pledged ...

2.2-2301 Purchase of bonds of Authority
The Authority, subject to the provisions in proceedings relating to outstanding bonds as may then exist, may purchase bonds out of any funds available therefor, ...

2.2-2302 Bonds secured by indenture; contents; expenses; how treated
The bonds may be secured by an indenture by and between the Authority and a corporate trustee that may be any bank or other corporation ...

2.2-2303 Signatures of prior members or officers; validity
In the event that any of the members or officers of the Board cease to be members or officers of the Board prior to the ...

2.2-2304 Deposit of money; expenditures; security for deposits
All money of the Authority, except as otherwise authorized in this article, shall be deposited as soon as practicable in a separate account in banks ...

2.2-2305 Contracts with holders of bonds; how money secured
Notwithstanding the provisions of § 2.2-2304, the Authority may contract with the holders of any of its bonds as to the custody, collection, securing, investment ...

2.2-2306 Bondholder protection
Subsequent amendments to this article shall not limit the rights vested in the Authority with respect to any agreements made with, or remedies available to, ...

2.2-2307 Bonds as legal investments and securities
The bonds issued by the Authority in accordance with this article shall be legal investments in which all public officers or public bodies of the ...

2.2-2308 Expenses of Authority; liability of Commonwealth or political subdivision prohibited
All expenses incurred by the Authority in carrying out the provisions of this article shall be payable solely from funds provided under this article, and ...

2.2-2309 Creation, administration, and management of Virginia Export Fund
A. In addition to any other fund or account the Authority may create pursuant to subdivision 23 of § 2.2-2285, there shall be a permanent ...

2.2-2310 Creation, administration, and management of Virginia Small Business Growth Fund
A. In addition to any other fund or account the Authority may create pursuant to subdivision 23 of § 2.2-2285, there shall be a permanent ...

2.2-2311 Creation, administration, and management of the Capital Access Fund for Disadvantaged Businesse...
A. For the purposes of this section: "Disadvantaged business" means a for-profit small business concern that is majority-owned by one or more economically disadvantaged individuals. ...

2.2-2312 Annual report; audit
The Authority shall, within 120 days of the close of each fiscal year, submit an annual report of its activities for the preceding fiscal year ...

2.2-2313 Exemption from taxation
The Authority is declared to be performing a public function and to be a public body corporate and a political subdivision of the Commonwealth. Accordingly, ...

2.2-2314 Administrative Process Act not applicable
The provisions of the Administrative Process Act (§ 2.2-4000 et seq.) shall not apply to this article. (1984, c. 749, § 9-208; 2001, c. 844.) ...

2.2-2315 Short title; declaration of public purpose; Authority created
A. This article shall be known and may be cited as the Virginia Tourism Authority Act. B. The General Assembly finds and declares that: 1. ...

2.2-2316 Executive Director; Board of Directors; members and officers
A. Notwithstanding the provisions of § 2.2-2318, all powers, rights and duties conferred by this article or other provisions of law upon the Authority shall ...

2.2-2317 Appointment and duties of Executive Director
The Governor shall appoint an Executive Director of the Authority, who shall serve as President and chief executive officer of the Authority. The Executive Director ...

2.2-2318 Powers of Authority
The Authority, acting through the Executive Director, shall be granted all powers necessary or appropriate to carry out and to effectuate its purposes, including the ...

2.2-2319 Cooperative Marketing Fund
A. There is established the Cooperative Marketing Fund (Marketing Fund) for the purpose of encouraging, stimulating, and supporting the tourism segment of the economy of ...

2.2-2320 Governor's Motion Picture Opportunity Fund
There is created a Governor's Motion Picture Opportunity Fund (the Fund) to be used, in the sole discretion of the Governor, to support the film ...

2.2-2321 Grants from Commonwealth
The Commonwealth may make grants of money or property to the Authority for the purpose of enabling it to carry out its corporate purposes and ...

2.2-2322 Deposit of money; expenditures; security for deposits
A. All money of the Authority, except as otherwise authorized by law or this article, shall be deposited in accounts in banks or trust companies ...

2.2-2323 Forms of accounts and records; annual reports; audit
The Authority shall maintain accounts and records showing the receipt and disbursement of funds from whatever source derived in a form as prescribed by the ...

2.2-2324 Exemption from taxation
As set forth in subsection C of § 2.2-2315, the Authority shall be performing an essential governmental function in the exercise of the powers conferred ...

2.2-2325 Exemptions from personnel and procurement procedures
The provisions of the Virginia Public Procurement Act (§ 2.2-4300 et seq.) and the Virginia Personnel Act (§ 2.2-2900 et seq.) shall not apply to ...

2.2-2326 Sovereign immunity
No provisions of this article nor act of the Authority, including the procurement of insurance or self-insurance, shall be deemed a waiver of any sovereign ...

2.2-2327 Liberal construction of article
The provisions of this article shall be liberally construed to the end that its beneficial purposes may be effectuated. (2002, c. 491.) ...

2.2-2328 Short title; declaration of public purpose; Authority created
A. This article shall be known and may be cited as the Virginia National Defense Industrial Authority Act. B. The General Assembly finds and declares ...

2.2-2329 Board of directors; members and officers; executive director
A. The Authority shall be governed by a board of directors consisting of 17 nonlegislative members appointed as follows: four members to be appointed by ...

2.2-2330 Powers of Authority
The Authority shall be granted all powers necessary or appropriate to carry out and to effectuate its purposes, including the power to: 1. Have perpetual ...

2.2-2331 Grants from Commonwealth
The Commonwealth may make grants of money or real or personal property to the Authority for the purpose of enabling it to carry out its ...

2.2-2332 Moneys received deemed trust funds
All moneys received pursuant to the authority of this article shall be deemed to be trust funds to be held and applied solely as provided ...

2.2-2333 Acceptance of grants or loans of public or private funds
The Authority may accept, receive, receipt for, disburse, and expend federal and state moneys and other moneys, public or private, made available by grant or ...

2.2-2334 Moneys of Authority; examination of books by the Auditor of Public Accounts
All moneys of the Authority, from whatever source derived, shall be paid to the treasurer of the Authority. Such moneys shall be deposited in the ...

2.2-2335 Exemption from taxes or assessments
The exercise of the powers granted by this article shall be in all respects for the benefit of the people of the Commonwealth, for the ...