Code of Virginia - Title 15.2 Counties, Cities And Towns - Chapter 59 Hampton Roads Sports Facility Authority

15.2-5900 Definitions
As used in this chapter the following words have the meanings indicated: "Authority" means the Hampton Roads Sports Facility Authority. "Facility" means (i) stadium or ...

15.2-5901 Creation of Authority
There is hereby established a body corporate and politic known as the Hampton Roads Sports Facility Authority. The Authority is a political subdivision of the ...

15.2-5902 Members of Authority; chairman; terms
A. The Authority shall consist of fifteen members appointed by the Governor and subject to confirmation by the General Assembly. The Governor shall consider recommendations ...

15.2-5903 Quorum; actions of Authority; meetings
Eight members of the Authority shall constitute a quorum for the purpose of conducting business. Actions of the Authority shall receive the affirmative vote of ...

15.2-5904 Executive Director appointment; duties
A. The Authority shall appoint an Executive Director, who is the chief administrative officer and secretary of the Authority and serves at the pleasure of ...

15.2-5905 Powers
In addition to the powers set forth elsewhere in this chapter, the Authority may: 1. Adopt and alter an official seal; 2. Sue and be ...

15.2-5906 Public hearings; notice; reports
A. At least sixty days prior to selecting a facility site, the Authority shall hold a public hearing within thirty miles of the site proposed ...

15.2-5907 Acquisition of property
A. The Authority may acquire in its own name, by gift or purchase, any real or personal property, or interests in property, necessary or convenient ...

15.2-5908 Bond issues
A. The Authority may at any time and from time to time issue bonds for any valid purpose, including the establishment of reserves and the ...

15.2-5909 Investments in bonds
Any financial institution, investment company, insurance company or association, and any personal representative, guardian, trustee, or other fiduciary, may legally invest any moneys belonging to ...

15.2-5910 Bonds are tax exempt
The Authority shall not be required to pay any taxes or assessments of any kind whatsoever and its bonds, their transfer, the interest payable on ...

15.2-5911 Sports Facility Authority Financing Fund; use
A. There is hereby created a Hampton Roads Sports Facility Authority Financing Fund ("Fund"). The Authority shall use the Fund as a nonlapsing revolving fund ...

15.2-5912 Additional duties
In addition to the duties set forth elsewhere in this chapter, the Authority shall: 1. Keep records as are consistent with sound business practices and ...

15.2-5913 Creation of local advisory boards
Prior to constructing any facility, the Authority shall create a local advisory board for that facility. Each local advisory board shall be composed of twelve ...

15.2-5914 Entitlement to sales tax revenues derived from a stadium
A. If the Authority has issued bonds to finance or refinance a stadium, the Authority shall be entitled to all sales tax revenues that are ...

15.2-5915 Tax revenues of the Commonwealth or any other political subdivision not pledged
Nothing in this chapter shall be construed as authorizing the pledging of the faith and credit of the Commonwealth, or any of its revenues, or ...

15.2-5916 Cooperation between the Authority and other political subdivisions
The Authority may enter into agreements with any other political subdivision of the Commonwealth for joint or cooperative action in accordance with § 15.2-1300. (1996, ...

15.2-5917 through 15.2-5920
Expired. ...