§ 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 succession as a public body corporate and as a political subdivision of the Commonwealth;
2. Adopt, amend, and repeal bylaws, rules, and regulations, consistent with this article for the administration and regulation of its affairs, to carry into effect the powers and purposes of the Authority and the conduct of its business;
3. Sue and be sued in its own name;
4. Have an official seal and alter it at will, although the failure to affix this seal shall not affect the validity of any instrument executed on behalf of the Authority;
5. Maintain an office at any place that it designates;
6. Make and execute contracts and all other instruments and agreements necessary or convenient for the performance of its duties and the exercise of its powers and functions under this article;
7. Make and enter into all contracts and agreements necessary or incidental to the performance of its duties, the furtherance of its purposes and the execution of its powers under this article, including interstate compacts and agreements with any person or federal agency;
8. Employ, in its discretion, consultants, attorneys, architects, engineers, accountants, financial experts, investment bankers, superintendents, managers, and such other employees and agents as may be necessary, and to fix their compensation to be payable from funds made available to the Authority;
9. Receive and accept from any federal or private agency, foundation, corporation, association, or person grants, donations of money, real property, or personal property for the benefit of the Authority, and to receive and accept from the Commonwealth or any state, any municipality, county or other political subdivision thereof, and from any other source, aid, or contributions of either money, property, or other things of value, to be held, used, and applied for the purposes for which such grants and contributions may be made;
10. Receive and accept from any source aid, grants, and contributions of money, property, labor, or other things of value to be held, used, and applied to carry out the purposes of this article subject to the conditions upon which the aid, grants, or contributions are made;
11. Enter into agreements with any department, agency or instrumentality of the United States, the Commonwealth, the District of Columbia, or any state for purposes consistent with the Authority's mission;
12. Make grants to local governments, state and federal agencies, and private entities with any funds of the Authority available for this purpose;
13. Raise money in the corporate, nonprofit, and nonstate communities to finance the Authority's activities; and
14. Do any act necessary or convenient to the exercise of the powers granted or reasonably implied by this article and not otherwise inconsistent with the law of this Commonwealth.
(2005, c. 858.)
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