Code of Virginia - Title 15.2 Counties, Cities And Towns - Chapter 60 Virginia Coalfield Economic Development Authority

15.2-6000 Authority created; name
The Virginia Coalfield Economic Development Authority, hereinafter referred to as the Authority, is created as a body politic and corporate, a political subdivision of the ...

15.2-6001 Findings of fact
The economy of Southwest Virginia has not kept pace with that of the rest of the Commonwealth. The economic problems of Southwest Virginia are due ...

15.2-6002 Purpose of Authority; performs governmental function
The primary purpose of the Authority is to enhance the economic base for the seven county and one city coalfield region of Virginia (Lee, Wise, ...

15.2-6003 Board of Authority; members and officers; staff; annual report
All powers, rights and duties conferred by this chapter, or other provisions of law, upon the Authority shall be exercised by the Board of the ...

15.2-6004 Office of Authority; title to property
The Authority shall have and maintain its principal office as determined by the Board, within the participating counties and one city at which all of ...

15.2-6005 General powers of Authority; regulations; enforcement of statutes, rules, etc
In order to enable it to carry out the purposes of this chapter, the Authority acting through its Board: 1. Is vested with the powers ...

15.2-6006 Further powers
The Authority, to accomplish its general purpose, is given the following powers, namely: 1. To enter into contractual agreements in furtherance of its purpose; 2. ...

15.2-6007 Acceptance of funds, property and grants or loans
The Authority may accept funds and property from the federal government, the Commonwealth, persons and localities, and may use the same for any of the ...

15.2-6008 Forms of accounts and records; audit of same
The accounts and records of the Authority showing the receipt and disbursement of funds from whatever source derived shall be in such form as the ...

15.2-6009 Capitalization of Authority
On September 1, 1988, and on the first day of each month thereafter, each county and city shall remit to the Virginia Coalfield Economic Development ...

15.2-6010 Proceeds held
The treasurer may invest and reinvest funds of the Authority pending their need. All moneys received by the Authority pursuant to § 15.2-6009, together with ...

15.2-6011 Eligible use of funds
The Authority is hereby empowered to pledge its funds, and make loans and grants to or for the benefit of for-profit enterprises or entities; governmental ...

15.2-6012 Dissolution of Authority
Whenever the Board determines that the purpose for which the Authority was created has been substantially fulfilled or is impractical or impossible of accomplishment and ...

15.2-6013 Chapter liberally construed
This chapter, being necessary for the welfare of the Commonwealth and its inhabitants, shall be liberally construed to effect the purposes thereof. (1988, c. 833, ...

15.2-6014 Inconsistent laws inapplicable
All other general or special laws inconsistent with any provision of this chapter are hereby declared to be inapplicable to the provisions of this chapter. ...

15.2-6015 City of Norton deemed contributing jurisdiction of Wise County
For the purpose of this chapter the City of Norton shall be deemed a contributing jurisdiction of Wise County and moneys collected from Wise County ...