No provisions of this Act shall relieve, impair, or affect any right, duty, liability, or obligation arising out of any contract, concession, lease, or franchise now in existence, including all contracts entered into by Bristol Virginia Utilities except to the extent that such contract, concession, lease, or franchise may permit. Notwithstanding the foregoing provisions of this section, the Authority may renegotiate, renew, extend the term of, or otherwise modify at any time any contract, concession, lease, or franchise now in existence in such manner and on such terms and conditions as it may deem appropriate, provided that the operator of or under any said contract, concession, lease, or franchise consents to such renegotiation, renewal, extension, or modification. The Authority shall be obligated for the performance of any contract of Bristol Virginia Utilities now in existence in accordance with its terms, and such contracts shall remain in full force and effect.
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