A member of the Authority may withdraw from the participation in and the obligations of the Authority by a resolution or an ordinance of its governing body, and pursuant to such conditions and procedures adopted by the Authority. However, if the Authority has any outstanding bonds or other debt, no member may withdraw from the Authority without the unanimous consent of all the holders of such bonds unless such bonds have been paid or cashed or United States government obligations have been deposited for their payment.
2009, c. 645, § 15.2-7034; 2014, c. 805.
Structure Code of Virginia
Title 33.2 - Highways and Other Surface Transportation Systems
Chapter 28 - Charlottesville-Albemarle Regional Transit Authority
§ 33.2-2800. Charlottesville-Albemarle Regional Transit Authority created
§ 33.2-2801. Powers of the Charlottesville-Albemarle Regional Transit Authority
§ 33.2-2802. Counties and cities initially embraced by the Authority
§ 33.2-2803. Joinder of other counties, agencies, institutions, and facilities
§ 33.2-2804. Governance of Authority; composition; terms
§ 33.2-2806. Decisions of Authority
§ 33.2-2807. Allocation of certain Authority expenses
§ 33.2-2808. Payment to directors of the Authority Board
§ 33.2-2809. Formation of advisory committees
§ 33.2-2810. Other duties and responsibilities of Authority