Code of Virginia - Title 15.2 Counties, Cities And Towns - Chapter 64 Virginia Regional Industrial Facilities Act

15.2-6400 Definitions
As used in this chapter the following words have the meanings indicated: "Authority" means any regional facility authority organized and existing pursuant to this chapter. ...

15.2-6401 Findings; purpose; governmental functions
A. The economies of many localities within the region have not kept pace with those of the rest of the Commonwealth. Individual localities in the ...

15.2-6402 Procedure for creation of authorities
The governing bodies of any three or more localities within the region, provided that two or more of the localities are cities or counties or ...

15.2-6403 Board of the authority
A. All powers, rights and duties conferred by this chapter, or other provisions of law, upon an authority shall be exercised by a board of ...

15.2-6404 Office of authority; title to property
Each board shall maintain the principal office of the authority within a member locality. All records shall be kept at such office. The title to ...

15.2-6405 Powers of the authority
Each authority is vested with the powers of a body corporate, including the power to sue and be sued in its own name, plead and ...

15.2-6406 Donations to authority; remittance of tax revenue
A. Member localities are hereby authorized to lend or donate money or other property to an authority for any of its purposes. The member locality ...

15.2-6407 Revenue sharing agreements
Notwithstanding the requirements of Chapter 34 (§ 15.2-3400 et seq.) of this title, the member localities may agree to a revenue and economic growth-sharing arrangement ...

15.2-6408 Applicability of land use regulations
In any locality where planning, zoning, and development regulations may apply, an authority shall comply with and is subject to those regulations to the same ...

15.2-6409 Bond issues; contesting validity of bonds
A. An authority may at any time and from time to time issue bonds for any valid purpose, including the establishment of reserves and the ...

15.2-6410 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 ...

15.2-6411 Bonds exempt from taxation
An authority shall not be required to pay any taxes or assessments of any kind whatsoever, and its bonds, their transfer, the interest payable on ...

15.2-6412 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 of Virginia, or any of its ...

15.2-6413 Forms of accounts and records; audit of same
The accounts and records of an authority showing the receipt and disbursement of funds from whatever source derived shall be in such form as the ...

15.2-6414 Tort liability
No pecuniary liability of any kind shall be imposed on the Commonwealth or on any other political subdivision of the Commonwealth because of any act, ...

15.2-6415 Dissolution of authority
A member locality of an authority may withdraw from the authority only upon dissolution of the authority as set forth herein. Whenever the board determines ...

15.2-6416 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. (1997, cc. 276, ...