A. The establishment of the BVU Authority is deemed to be an entity conversion and all assets of, tariffs on file with the Commission, and all certificates authorizing the furnishing of Local Exchange Telephone Service and the furnishing of interexchange telecommunications services, granted to and held by Bristol Virginia Utilities and the City of Bristol, Bristol Virginia Utilities Division are hereby deemed to be transferred to BVU Authority without further application by BVU Authority to the Commission. The Commission shall issue appropriate documentation to effectuate this transfer without further action on behalf of BVU Authority. It is further deemed that the Authority has met all conditions precedent to qualify for such certificates and the powers granted therein and the limitations, restrictions, and requirements set forth thereto continuing in full force and effect.
B. BVU Authority will be deemed to be an MLEC.
C. Upon enactment of this chapter, the Authority shall file a name change with the Commission.
D. No bond shall be required of BVU Authority by the Commission.
2010, cc. 117, 210.
Structure Code of Virginia
Title 15.2 - Counties, Cities and Towns
Chapter 72 - BVU Authority Act
§ 15.2-7201. Creation; public purpose
§ 15.2-7203. BVU Authority; operating name or names
§ 15.2-7205. Board of Directors; membership
§ 15.2-7206. Organization; compensation
§ 15.2-7209. Authority deemed to be an MLEC
§ 15.2-7210. Transfer of properties and debt
§ 15.2-7213. Deposit and investment of funds
§ 15.2-7214. Authority to issue bonds
§ 15.2-7215. Credit of Commonwealth and political subdivisions not pledged
§ 15.2-7216. Directors and persons executing bonds not liable thereon
§ 15.2-7217. Security for payment of bonds; default
§ 15.2-7218. Bonds as legal investments
§ 15.2-7219. Contracts concerning interest rates and investments
§ 15.2-7221. Sovereign immunity
§ 15.2-7222. Appropriation by political subdivision
§ 15.2-7223. Contracts with political subdivisions
§ 15.2-7224. Application of local ordinances, service charges, and taxes upon leaseholds
§ 15.2-7225. Existing contracts, leases, franchises, etc., not impaired