reglab/housing_qa huggingface dataset:
VA Code § 15.2-7201 (2021)
2021 Code of Virginia|Title 15.2 - Counties, Cities and Towns|Chapter 72 - BVU Authority Act|§ 15.2-7201. Creation; public purpose

There is hereby created a political subdivision of the Commonwealth known as the BVU Authority.The BVU Authority is created for the express purpose of receiving, by operation of this chapter, the powers, assets, and debts of that separately managed and financed division of the City of Bristol, Virginia, heretofore known as Bristol Virginia Utilities and to provide the services Bristol Virginia Utilities has provided or may lawfully provide. The General Assembly therefore deems this to be an entity conversion and for all purposes the BVU Authority is the same entity as Bristol Virginia Utilities, which is hereby converted to the BVU Authority. The BVU Authority shall exercise the rights and duties as hereinafter set out to provide the various utility services it currently lawfully provides all subject to the limitations as are herein set forth or referenced.2010, cc. 117, 210.
VA Code § 15.2-7202 (2021)
2021 Code of Virginia|Title 15.2 - Counties, Cities and Towns|Chapter 72 - BVU Authority Act|§ 15.2-7202. Definitions

As used in this chapter, unless the context requires a different meaning:"Authority" means the BVU Authority created by entity conversion of Bristol Virginia Utilities by this chapter."Board," "Authority Board," or "Board of Directors" means the governing body of the Authority."Bonds" means any bonds, notes, debentures, bond acceptance notes, or other evidence of financial indebtedness either issued or assumed by the Authority pursuant to this chapter."Bristol Virginia Utilities Board" means the Board of Directors of Bristol Virginia Utilities governing that entity until the Authority Board takes office on July 1, 2010."City" means the City of Bristol, Virginia."City Council" means the City Council of the City of Bristol, Virginia."Commission" means the Virginia State Corporation Commission."Commonwealth" means the Commonwealth of Virginia."Infrastructure" means all property, whether attached to real property or not, now used by Bristol Virginia Utilities and hereafter used by the Authority for the provision of (i) electric, water, sewer, telecommunications, internet, and cable television services and (ii) all other utility services the Authority may lawfully provide."MLEC" means any city, county, or town certificated to provide local exchange and/or interexchange telecommunications services pursuant to § 56-265.4:4 and any authority granted such powers pursuant to § 15.2-7209."Political subdivision" means, when referring to an entity other than the Authority, a locality, authority, or other public body of the Commonwealth or of any state in which the Authority does business."Utility," "utilities," or "utility services" means and includes electric, water, sewer, and telecommunications, internet and cable television services, including all other services that might be lawfully rendered by use of its fiber optic system.2010, cc. 117, 210; 2016, cc. 724, 725.
VA Code § 15.2-7203 (2021)
2021 Code of Virginia|Title 15.2 - Counties, Cities and Towns|Chapter 72 - BVU Authority Act|§ 15.2-7203. BVU Authority; operating name or names

The name of the Authority shall be BVU Authority.The BVU Authority is hereby authorized to operate under the names BVU, BVU OptiNet, CPC OptiNet, and BVU Focus. The name of the Authority and any division or operating name may be changed upon approval of a simple majority of the Board. The Board may adopt additional operating names in the future. The Authority shall comply with requisite fictitious name recording requirements for any areas in which it is doing business.2010, cc. 117, 210; 2016, cc. 724, 725.
VA Code § 15.2-7204 (2021)
2021 Code of Virginia|Title 15.2 - Counties, Cities and Towns|Chapter 72 - BVU Authority Act|§ 15.2-7204. Divisions

The Board may create such divisions of the Authority as it deems expedient to perform such services as are authorized by statute.2010, cc. 117, 210.
VA Code § 15.2-7205 (2021)
2021 Code of Virginia|Title 15.2 - Counties, Cities and Towns|Chapter 72 - BVU Authority Act|§ 15.2-7205. Board of Directors; membership

A. The powers of the Authority shall be vested in the Authority Board of Directors consisting of five directors. The number of directors shall not be altered by the Authority Board.B. The Authority Board shall be constituted as follows:1. One director who is a citizen of the City of Bristol, Virginia, and is not a member of the Bristol City Council, appointed by the Speaker of the House of Delegates.2. One director who is a member of the Bristol City Council, appointed by the Bristol City Council to serve a four-year term coterminous with his term on the Council.3. One director who is a citizen of Washington County and is not a member of the Washington County Board of Supervisors, appointed by the Senate Committee on Rules.4. One director who is a citizen of the City of Bristol, Virginia, who is engaged in business and is not a member of the Bristol City Council, appointed by the Authority Board. However, the first such director shall be appointed by the Bristol City Council for a term that ends the sooner of July 1, 2017, or the date upon which the Authority Board appoints a director to this position to serve the remainder of the initial four-year term. The Authority Board shall appoint a director to this position thereafter.5. One director who is a member of the Washington County, Virginia, Board of Supervisors, appointed by the Washington County Board of Supervisors to serve a four-year term coterminous with his term on the Board of Supervisors.C. The four-year term of all directors shall begin July 1, 2016. The term of Authority Board membership for any director thereafter shall be four years.D. Each director who is a member of the Bristol City Council or Washington County Board of Supervisors may serve as many terms as the appointing governing body decides as long as the appointee remains a member of the relevant governing body. The governing body may appoint a different member of the Council or Board of Supervisors at the end of any appointee's four-year Council or Board term or upon the exit of the member from the governing body. In the latter case, the new appointee shall serve for the remainder of the term vacated by an exiting member of the governing body.E. If funds are available, each director may be reimbursed by the Authority for the amount of actual expenses incurred by him in the performance of his duties. Such expense allowance shall constitute a cost of operation and maintenance of such utility systems and shall be prorated among each of the systems it manages using the "Three-Factor" allocation method approved by the Commission. The three factors consist of the percentages that each division comprises of total plant in service, total operating revenues, and total customer accounts. Once each operating division's percentage of each of the three factors is calculated, the sum of the three factors divided by three results in the operating division's share of the total direct or indirect costs.2010, cc. 117, 210; 2016, cc. 724, 725.
VA Code § 15.2-7208 (2021)
2021 Code of Virginia|Title 15.2 - Counties, Cities and Towns|Chapter 72 - BVU Authority Act|§ 15.2-7208. Powers

Unless limited elsewhere in this chapter, the Authority shall have those powers possessed by the City of Bristol necessary and convenient for the provision of electric, water and sanitary sewer services, and those powers possessed by the Bristol Virginia Utilities Board and the division of the city known as Bristol Virginia Utilities as they existed on July 1, 2001, in the Charter of the City of Bristol, Virginia, and the general laws of the Commonwealth. Unless limited elsewhere in this chapter, the Authority shall also possess all those powers, subject to the limitations and restrictions thereon, as granted to the City, the Bristol Virginia Utilities Board, and BVU by Chapter 479 of the Acts of Assembly of 2002, Chapters 539, 546, and 677 of the Acts of Assembly 2003, Chapter 586 of the Acts of Assembly of 2004, Chapter 258 of the Acts of Assembly of 2005, Chapters 607 and 682 of the Acts of Assembly of 2007, and Chapters 99 and 323 of the Acts of Assembly of 2008.2010, cc. 117, 210; 2016, cc. 724, 725.
VA Code § 15.2-7209 (2021)
2021 Code of Virginia|Title 15.2 - Counties, Cities and Towns|Chapter 72 - BVU Authority Act|§ 15.2-7209. Authority deemed to be an MLEC

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.
VA Code § 15.2-7210 (2021)
2021 Code of Virginia|Title 15.2 - Counties, Cities and Towns|Chapter 72 - BVU Authority Act|§ 15.2-7210. Transfer of properties and debt

All of the properties, infrastructure, and other assets used by Bristol Virginia Utilities for any of its utility services or otherwise, whether held in its name or in the name of the City of Bristol, Virginia, are hereby transferred to the Authority and declared to be held by the Authority as its property. The portion of the City's debt that was incurred for the benefit of Bristol Virginia Utilities is hereby declared to be the debt of the Authority. That debt will be the sole responsibility of the Authority. The Authority will either assume that debt or issue new bonded indebtedness to pay it off as soon as practical and in accordance with all bond covenants in the BVU bonds on the City's financial statements.2010, cc. 117, 210.
VA Code § 15.2-7211 (2021)
2021 Code of Virginia|Title 15.2 - Counties, Cities and Towns|Chapter 72 - BVU Authority Act|§ 15.2-7211. Reports

The Authority shall keep minutes of its proceedings, which minutes shall be open to public inspection during normal business hours. It shall keep suitable records of all its financial transactions and shall arrange to have the same audited annually by an independent certified public accountant. Such audited financial reports will be provided to the Commonwealth Auditor of Public Accounts and to each participating political subdivision each year and shall be open to public inspection.2010, cc. 11, 210.
VA Code § 15.2-7212 (2021)
2021 Code of Virginia|Title 15.2 - Counties, Cities and Towns|Chapter 72 - BVU Authority Act|§ 15.2-7212. Procurement

All contracts that the Authority may let for professional services, nonprofessional services, or goods, materials, and equipment shall be subject to the Virginia Public Procurement Act (§ 2.2-4300 et seq.). Nothing herein will be construed to prevent the Authority from adopting a small purchases policy in keeping with such Act. If the Authority is procuring pursuant to a federal grant or program that requires compliance with federal procurement law, then the Authority may procure in compliance with federal law. If the Authority in the exercise of its powers is procuring in another state for use in that state, the Authority may procure in compliance with that state's procurement law.2010, cc. 117, 210.
VA Code § 15.2-7213 (2021)
2021 Code of Virginia|Title 15.2 - Counties, Cities and Towns|Chapter 72 - BVU Authority Act|§ 15.2-7213. Deposit and investment of funds

All moneys of the Authority shall be deposited as soon as practicable in a separate account or accounts in one or more banks or trust companies organized under the laws of the Commonwealth or national banking associations having their principal offices in the Commonwealth. Such deposits shall be continuously secured in accordance with the Virginia Security for Public Deposits Act (§ 2.2-4400 et seq.).Funds of the Authority not needed for immediate use or disbursement may, subject to the provisions of any contract between the Authority and the holders of its bonds or any contract between the Authority and TVA, be invested in securities that are considered lawful investments for fiduciaries.2010, cc. 117, 210.
VA Code § 15.2-7215 (2021)
2021 Code of Virginia|Title 15.2 - Counties, Cities and Towns|Chapter 72 - BVU Authority Act|§ 15.2-7215. Credit of Commonwealth and political subdivisions not pledged

Bonds issued under the provisions of this chapter shall not be deemed to constitute a debt of the Commonwealth of Virginia, or any political subdivision thereof other than the Authority, but such bonds shall be payable solely from the funds provided therefor as herein authorized. All such bonds shall state on their face that neither the Commonwealth of Virginia nor any political subdivisions thereof, nor the Authority, are obligated to pay the same or the interest thereon or other costs incident thereto except from the revenues and money pledged therefor and that neither the faith and credit nor the taxing power of the Commonwealth, or any political subdivision thereof, is pledged to the payment of the principal of such bonds, the redemption premium, if any, thereon, or the interest thereon or other costs incident thereto.All expenses incurred in carrying out the provisions of this chapter shall be payable solely from the funds of the Authority and no liability or obligation shall be incurred by the Authority hereunder beyond the extent to which moneys shall be available to the Authority.Bonds issued pursuant to the provisions of this Act shall not constitute indebtedness within the meaning of any debt limitation or restriction.2010, cc. 117, 210.
VA Code § 15.2-7216 (2021)
2021 Code of Virginia|Title 15.2 - Counties, Cities and Towns|Chapter 72 - BVU Authority Act|§ 15.2-7216. Directors and persons executing bonds not liable thereon

Neither the Board of Directors nor any person executing the bonds shall be liable personally on the Authority's bonds by reasons of the issuance thereof.2010, cc. 117, 210.
VA Code § 15.2-7217 (2021)
2021 Code of Virginia|Title 15.2 - Counties, Cities and Towns|Chapter 72 - BVU Authority Act|§ 15.2-7217. Security for payment of bonds; default

The principal of and interest on any bonds issued by the Authority shall be secured by a pledge of the revenues and receipts out of which the same shall be made payable, and may be secured by a trust indenture covering all or any part of the Authority facilities from which revenues or receipts so pledged may be derived, including any enlargements of any additions to any such projects thereafter made. The resolution under which the bonds are authorized to be issued and any such trust indenture may contain any agreements and provisions respecting the maintenance of the projects covered thereby, the fixing and collection of rents for any portions thereof leased by the Authority to others, the creation and maintenance of special funds from such revenues and the rights and remedies available in the event of default, all as the Board of Directors shall deem advisable not in conflict with the provisions hereof. Each pledge, agreement and trust indenture made for the benefit or security of any of the bonds of the Authority shall continue effective until the principal of and interest on the bonds for the benefit of which the same were made shall have been fully paid. In the event of default in such payment or in any agreements of the Authority made as a part of the contract under which the bonds were issued, whether contained in the proceedings authorizing the bonds or in any trust indenture executed as security therefor, may be enforced by mandamus, suit, action, or proceeding at law or in equity to compel the Authority and the directors, officers, agents, or employees thereof to perform each and every term, provision, and covenant contained in any trust indenture of the Authority, the appointment of a receiver in equity, or by foreclosure of any such trust indenture, or any one or more of such remedies.2010, cc. 117, 210.
VA Code § 15.2-7218 (2021)
2021 Code of Virginia|Title 15.2 - Counties, Cities and Towns|Chapter 72 - BVU Authority Act|§ 15.2-7218. Bonds as legal investments

All bonds issued under the provisions of this chapter are hereby made securities in which all public officers and public bodies of the Commonwealth and its political subdivisions and all insurance companies, trust companies, banking associations, investment companies, executors, administrators, trustees, and other fiduciaries may properly and legally invest funds, including capital, under their control or belonging to them. Such bonds are hereby made securities that may properly and legally be deposited with and received by any state or municipal officer or any agency or political subdivision of the Commonwealth for any purpose for which the deposit of bonds or obligations is now or may hereafter be authorized by law.2010, cc. 117, 210.
VA Code § 15.2-7219 (2021)
2021 Code of Virginia|Title 15.2 - Counties, Cities and Towns|Chapter 72 - BVU Authority Act|§ 15.2-7219. Contracts concerning interest rates and investments

The Authority may enter into any contract that the Board of Directors determines to be necessary or appropriate to place the obligation or investment of the Authority, as represented by the bonds or the investment of their proceeds, in whole or in part, on the interest rate, cash flow, or other basis desired by the Authority, which contract may include, without limitation, interest rate swap agreements, future contracts and contracts providing for payments based upon levels of, or changes in, interest rates. These contracts or arrangements may be entered into by the Authority in connection with, or incidental to, entering into or maintaining any (i) agreement that secures bonds or (ii) investment, or contract providing for investment, otherwise authorized by law. These contracts may contain such payment, security, default, remedy, and other terms as determined by the Authority. Any money set aside and pledged to secure payments of bonds or any contracts entered into pursuant to this section may be invested in accordance with Chapter 45 (§ 2.2-4500 et seq.) of Title 2.2 and may be pledged to and used to service any of the contracts or agreements entered into pursuant to this section.2010, cc. 117, 210.
VA Code § 15.2-7220 (2021)
2021 Code of Virginia|Title 15.2 - Counties, Cities and Towns|Chapter 72 - BVU Authority Act|§ 15.2-7220. Taxation

The exercise of the powers granted by this Act shall in all respects be presumed to be for the benefit of the public, for the increase of their commerce and for the promotion of their health, safety, welfare, convenience, and prosperity, and as the operation and maintenance of any service that the Authority is authorized to provide will constitute the performance of an essential governmental function, the Authority shall not be required to pay any taxes or assessments upon any facilities acquired and constructed by it under the provisions of this Act and the bonds issued under the provisions of this Act, their transfer, and the income therefrom, including any profit made on the sale thereof, shall at all times be free and exempt from taxation by the Commonwealth and by any political subdivision thereof. Persons, firms, partnerships, associations, corporations, and organizations leasing property of the Authority or doing business on property of the Authority shall be subject to and liable for payment of all applicable taxes of the political subdivision in which such leased property lies or in which business is conducted including but not limited to any leasehold tax on real property and taxes on the sale of utility services and local general retail sales and use taxes, taxes to be paid on licenses in respect to any business, profession, vocation or calling, and taxes upon consumers of gas, electricity, telephone, and other public utility services. The Authority shall continue to pay or impute any taxes presently paid or imputed by Bristol Virginia Utilities and to collect and remit all taxes presently collected and remitted by Bristol Virginia Utilities.2010, cc. 117, 210.
VA Code § 15.2-7221 (2021)
2021 Code of Virginia|Title 15.2 - Counties, Cities and Towns|Chapter 72 - BVU Authority Act|§ 15.2-7221. Sovereign immunity

No provisions of this chapter nor act of an authority, including the procurement of insurance or self-insurance, shall be deemed a waiver of any sovereign immunity to which the Authority or its directors, officers, employees, or agents are otherwise entitled.2010, cc. 117, 210.
VA Code § 15.2-7222 (2021)
2021 Code of Virginia|Title 15.2 - Counties, Cities and Towns|Chapter 72 - BVU Authority Act|§ 15.2-7222. Appropriation by political subdivision

Any political subdivision of the Commonwealth is authorized to provide services, to donate real or personal property, and to make appropriations to the Authority for the acquisition, construction, maintenance, and operation of the Authority's facilities. Any such political subdivision is hereby authorized to issue its bonds, including general obligation bonds, in the manner provided in the Public Finance Act of 1991 (§ 15.2-2600 et seq.) or in any applicable municipal charter for the purpose of providing funds to be appropriated to the Authority, and such political subdivisions may enter into contracts obligating such bond proceeds to the Authority.2010, cc. 117, 210.
VA Code § 15.2-7223 (2021)
2021 Code of Virginia|Title 15.2 - Counties, Cities and Towns|Chapter 72 - BVU Authority Act|§ 15.2-7223. Contracts with political subdivisions

The Authority is authorized to enter into contracts with the Commonwealth, with the states it operates within, with any one or more political subdivisions within and without the Commonwealth, and with any other person or entity for any legal purpose.2010, cc. 117, 210.
VA Code § 15.2-7224 (2021)
2021 Code of Virginia|Title 15.2 - Counties, Cities and Towns|Chapter 72 - BVU Authority Act|§ 15.2-7224. Application of local ordinances, service charges, and taxes upon leaseholds

Nothing herein contained shall be construed to exempt the Authority's property from any applicable zoning, subdivision, erosion and sediment control, and fire prevention codes or from building regulations of a political subdivision in which such property is located, except as otherwise specifically excluded herein. Nor shall anything herein contained exempt the property of the Authority from any service charge authorized by the General Assembly pursuant to Article X, Section 6 (g) of the Constitution of Virginia, or exempt any lessee of any of the Authority's property from any tax imposed upon his leasehold interest in such property or upon the receipts derived therefrom.2010, cc. 117, 210.