§ 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 that:
1. There exists a need to foster and promote business, technology, transportation, education, economic development and other efforts in support of the mission, execution, and transformation of the United States government military and national defense activities located in the Commonwealth;
2. The industrial and economic development of localities included in or adjacent to United States government military and other national defense activities and those of the Commonwealth are greatly dependent on successful cooperation between the localities, the Commonwealth, and the United States military and national defense activities; and
3. There exists a need for the provision of technical assistance and coordination between the Commonwealth, its political subdivisions, and the United States government military and national defense activities located within the Commonwealth.
The General Assembly determines that the creation of an authority for this purpose is in the public interest, serves a public purpose, and will promote the health, safety, welfare, convenience, and prosperity of the people of the Commonwealth.
C. The Virginia National Defense Industrial Authority is created, with the duties and powers set forth in this article, as a public body corporate and as a political subdivision of the Commonwealth. The Authority is constituted as a public instrumentality exercising public and essential governmental functions, and the exercise by the Authority of the duties and powers conferred by this article shall be deemed and held to be the performance of an essential governmental function of the Commonwealth. The exercise of the powers granted by this article and its public purpose shall be in all respects for the benefit of the inhabitants of the Commonwealth and the increase of their commerce and prosperity and in support of national defense.
(2005, c. 858.)
Sections: Previous 2.2-2321 2.2-2322 2.2-2323 2.2-2324 2.2-2325 2.2-2326 2.2-2327 2.2-2328 2.2-2329 2.2-2330 2.2-2331 2.2-2332 2.2-2333 2.2-2334 2.2-2335 NextLast modified: April 2, 2009