A. The ordinance, agreement or resolution creating an authority shall include articles of incorporation which shall set forth:
1. The name of the authority and address of its principal office.
2. The name of each participating locality and the names, addresses and terms of office of the first members of the board of the authority.
3. The purposes for which the authority is being created and, to the extent that the governing body of the locality determines to be practicable, preliminary estimates of capital costs, proposals for any specific projects to be undertaken by the authority, and preliminary estimates of initial rates for services of such projects as certified by responsible engineers.
4. If there is more than one participating locality, the number of board members who shall exercise the powers of the authority and the number from each participating locality.
B. Any such ordinance, agreement or resolution that does not set forth the information required in subdivision 3 of subsection A regarding capital cost estimates, project proposals and project service rate estimates shall set forth a finding by the governing body that inclusion of such information is impracticable.
C. Any ordinance, agreement or resolution adopted pursuant to §§ 15.2-5152 through 15.2-5157 shall provide that any bonds issued by the community development authority shall be a debt of the authority, not the local government. Unless otherwise provided in the ordinance which establishes the authority, the local government shall not retire any part of the bonds or pay any debt service of an authority out of revenues or funds derived from sources other than those set out in § 15.2-5158, except that, where the authority finances improvements not contemplated by the original ordinance, the local government may, by ordinance or resolution, make such provisions for repayment as are otherwise permitted under general law. This subsection shall have no effect upon authorities formed pursuant to § 15.2-5102.
Code 1950, § 15-764.4; 1950, p. 1315; 1962, c. 623, § 15.1-1242; 1972, cc. 370, 544; 1984, c. 239; 1997, cc. 363, 587.
Structure Code of Virginia
Title 15.2 - Counties, Cities and Towns
Chapter 51 - Virginia Water and Waste Authorities Act
§ 15.2-5102. One or more localities may create authority
§ 15.2-5104. Advertisement of ordinance, agreement or resolution and notice of hearing
§ 15.2-5105. Hearing; referendum
§ 15.2-5106. Voters' petition requesting agreement and referendum
§ 15.2-5107. Filing articles of incorporation
§ 15.2-5108. Issuance of certificate or charter
§ 15.2-5109. Dissolution and termination of authority
§ 15.2-5110. Amendment of articles of incorporation
§ 15.2-5111. Specification of projects
§ 15.2-5112. Joinder of another locality or authority; withdrawal from authority
§ 15.2-5113. Members of authority board; chief administrative or executive officer
§ 15.2-5114. Powers of authority
§ 15.2-5115. Same; contracts relating to use of systems
§ 15.2-5116. Same; effect of annexation
§ 15.2-5117. Same; insurance for employees
§ 15.2-5118. Powers of Authority; streetlights in King George County
§ 15.2-5119. Power to provide and operate electric energy systems
§ 15.2-5120. Powers of authority in certain counties and cities
§ 15.2-5121. Operation of refuse collection systems; displacement of private companies
§ 15.2-5122. Approval for certain water supply impoundment facilities
§ 15.2-5123. Sewage treatment plants to include certain capability
§ 15.2-5125. Issuance of revenue bonds
§ 15.2-5126. Time for contesting validity of proposed bond issue; when bonds presumed valid
§ 15.2-5127. Proceeds of bonds
§ 15.2-5128. Interim receipts and temporary bonds; bonds mutilated, lost or destroyed
§ 15.2-5129. Provisions of chapter only requirements for issue
§ 15.2-5130. Limitations in bond resolution or trust agreement
§ 15.2-5131. Bonds not debts of Commonwealth or participating political subdivision
§ 15.2-5132. Exemption from taxation
§ 15.2-5133. Trust agreement; bond resolution
§ 15.2-5134. Disposition of unclaimed funds due on matured bonds or coupons
§ 15.2-5135. Contracts concerning interest rates, currency, cash flow and other basis
§ 15.2-5136. Rates and charges
§ 15.2-5137. Water and sewer connections; exceptions
§ 15.2-5138. Enforcement of charges
§ 15.2-5138.1. Enforcement of certain charges when authority does not provide water services
§ 15.2-5141. Bondholder's remedies
§ 15.2-5143. Purchase in open market or otherwise
§ 15.2-5144. Investment in bonds
§ 15.2-5145. Financial report; authority budget; audit
§ 15.2-5146. Use of state land
§ 15.2-5148. Units may convey property
§ 15.2-5149. Interference with railroad structures
§ 15.2-5150. Creating or joining more than one authority
§ 15.2-5151. Water utilities may act as billing agents
§ 15.2-5152. Localities may consider petitions for creation of authority
§ 15.2-5153. Landowners may petition localities
§ 15.2-5154. Contents of petition
§ 15.2-5155. Ordinance or resolution creating authority
§ 15.2-5157. Recording in land records
§ 15.2-5158. Additional powers of community development authorities
§ 15.2-5159. Validation of creation of authorities; bonds issued