Code of Virginia - Title 15.2 Counties, Cities And Towns - Chapter 54.1 Virginia Wireless Service Authorities Act

15.2-5431.1 Title of chapter; construction
This chapter shall be known and may be cited as the "Virginia Wireless Service Authorities Act." This chapter shall constitute full and complete authority for ...
15.2-5431.2 Definitions
As used in this chapter, unless the context requires a different meaning: "Authority" means an authority created under the provisions of this chapter or, if ...
15.2-5431.3 Creation of authority
The governing body of a locality may by resolution, or two or more localities may by concurrent resolutions, create an authority, the name of which ...
15.2-5431.4 Resolution creating authority to include articles of incorporation
The resolution creating an authority shall include articles of incorporation, which shall set forth: 1. The name of the authority and address of its principal ...
15.2-5431.5 Advertisement of resolution and notice of hearing
The governing body of the locality shall cause to be advertised at least one time in a newspaper of general circulation in such locality a ...
15.2-5431.6 Hearing; referendum
If at the hearing, in the judgment of the governing body of the locality, substantial opposition is heard, the governing body may at its discretion ...
15.2-5431.7 Filing articles of incorporation
After adoption or approval of a resolution creating an authority, the governing body of the locality shall file with the State Corporation Commission the authority's ...
15.2-5431.8 Issuance of certificate or charter
The State Corporation Commission shall issue a certificate of incorporation or charter to the authority if it finds that the articles of incorporation conform to ...
15.2-5431.9 Dissolution of authority
A. Whenever the board of an authority determines that the purposes for which it was created have been completed or are impractical or impossible and ...
15.2-5431.10 Members of authority board; chief administrative or executive officer
A. The powers of each authority created by the governing body of a locality shall be exercised by an authority board of five members, or ...
15.2-5431.11 Powers of authority
Each authority is an instrumentality exercising public and essential governmental functions to provide for the public health and welfare, and each authority may: 1. Exist ...
15.2-5431.12 Contracts relating to use of systems
An authority may make and enter into all contracts or agreements, as the authority may determine, which are necessary or incidental to the performance of ...
15.2-5431.13 Insurance for employees
An authority may establish retirement, group life insurance, and group accident and sickness insurance plans or systems for its employees in the same manner as ...
15.2-5431.14 Issuance of revenue bonds
An authority may provide by resolution for the issuance of revenue bonds of the authority for the purpose of paying the whole or any part ...
15.2-5431.15 Time for contesting validity of proposed bond issue; when bonds presumed valid
A. For a period of 30 days after the date of the filing with the circuit court having jurisdiction over the locality creating the authority, ...
15.2-5431.16 Proceeds of bonds
The proceeds of bonds issued pursuant to § 15.2-5431.14 shall be used solely for the payment of the cost of the project or projects for ...
15.2-5431.17 Interim receipts and temporary bonds; bonds mutilated, lost or destroyed
A. Prior to the preparation of definitive bonds, the authority may, under like restrictions, issue interim receipts or temporary bonds, with or without coupons, exchangeable ...
15.2-5431.18 Provisions of chapter only requirements for issue
Bonds may be issued under the provisions of this chapter without obtaining the approval or consent of any department, division, commission, board, bureau or agency ...
15.2-5431.19 Limitations in bond resolution or trust agreement
The resolution providing for the issuance of revenue bonds of the authority, and any trust agreement securing such bonds, may contain such limitations upon the ...
15.2-5431.20 Bonds not debts of Commonwealth or participating political subdivision
Revenue bonds issued under the provisions of this chapter shall not constitute a pledge of the faith and credit of the Commonwealth or of any ...
15.2-5431.21 Exemption from taxation
No authority shall be required to pay any taxes or assessments upon any project acquired or constructed by it under the provisions of this chapter ...
15.2-5431.22 Trust agreement; bond resolution
In the discretion of the authority, any revenue bonds issued under the provisions of this chapter may be secured by a trust agreement by and ...
15.2-5431.23 Disposition of unclaimed funds due on matured bonds or coupons
Any authority having bonds outstanding on which principal, premium or interest has matured for a period of more than five years may pay any money ...
15.2-5431.24 Contracts concerning interest rates, currency, cash flow and other basis
A. Any authority may enter into any contract that the authority determines to be necessary or appropriate to place the obligation or investment of the ...
15.2-5431.25 Rates and charges
A. The authority may fix and revise rates, fees and other charges (which shall include, but not be limited to, a penalty not to exceed ...
15.2-5431.26 Enforcement of charges
Any resolution or trust agreement providing for the issuance of revenue bonds under the provisions of this chapter may include any of the following provisions, ...
15.2-5431.27 Lien for charges
A. There shall be a lien upon real estate for the amount of any fees other charges by an authority to the owner or lessee ...
15.2-5431.28 Trust funds
All moneys received pursuant to this chapter shall be deemed to be trust funds, to be held and applied solely as provided in this chapter. ...
15.2-5431.29 Bondholder's remedies
Any holder of revenue bonds issued by an authority under this chapter, or of any of the coupons appertaining thereto, except to the extent the ...
15.2-5431.30 Refunding bonds
An authority may provide by resolution for the issuance of revenue refunding bonds of the authority to refund any revenue bonds outstanding and issued under ...
15.2-5431.31 Purchase in open market or otherwise
Provision may be made in the proceedings authorizing refunding revenue bonds for the purchase of the refunded revenue bonds in the open market or pursuant ...
15.2-5431.32 Investment in bonds
Any bonds issued pursuant to this chapter are hereby made securities in which all public officers, bodies and political subdivisions of the Commonwealth; all insurance ...
15.2-5431.33 Financial report; authority budget; audit
Any locality may, by resolution, require an authority to: 1. Submit to it an annual financial statement in a form prescribed by the Auditor of ...
15.2-5431.34 Use of state land
The Commonwealth hereby consents to the use of all lands above or under water and owned or controlled by it which are necessary for the ...
15.2-5431.35 Powers of localities to make grants and conveyances to and contracts with authority
Each political subdivision may: 1. Convey or lease to any authority, with or without consideration, any systems or facilities for the provision of qualifying communications ...
15.2-5431.36 Liability of members or officers
No member of any authority or officer of any governing body of locality creating such authority, or person or persons acting in their behalf, while ...
15.2-5431.37 Provisions of chapter cumulative; construction
Neither this chapter nor anything herein contained shall be construed as a restriction or limitation upon any powers which an authority or governmental unit acting ...

Last modified: April 2, 2009