reglab/statecodes huggingface dataset:
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 48 - Virginia Transportation Service District Act › § 15.2-4812. Enlargement of districts

A. The district may be enlarged by resolution of the board of supervisors upon the petition of (i) the owners of at least 51 percent of either the assessed value of land or land area, as the case may be, of real property in the district that (a) is unimproved, regardless of zoning, or (b) has been zoned for commercial or industrial use or is used for such purposes in the district and (ii) the owners of at least 51 percent of either the assessed value of land or land area, as the case may be, of real property that is located within the territory sought to be added to the district and that (a) is unimproved, regardless of zoning, or (b) has been zoned for commercial or industrial use or is used for such purposes, provided that any such territory shall be contiguous to the existing district. The petitioners shall present the information required by § 15.2-4802. Upon receipt of such petitions, the county shall use the standards and procedures described in § 15.2-4802, except that residents and owners of both the existing district and the area proposed for the enlargement shall have the right to appear and show cause why any property or properties should not be included in the proposed enlargement of the district.
B. If the board of supervisors finds the enlargement of a district (i) would be in accordance with the applicable county comprehensive plan for the development of the area, (ii) would be in the best interests of the residents and owners of the real property within the proposed district, (iii) would be in furtherance of the public health, safety, and general welfare, and (iv) would not limit or adversely affect the rights and interests of any party that has contracted with the district, the board of supervisors shall pass a resolution providing for the enlargement of the district.
C. Where unimproved property, regardless of zoning, is included in the resolution enlarging the district, the board of supervisors, upon approving the resolution, shall direct that a copy of the resolution be recorded in the land records of the circuit court for the judicial circuit in which that county is located for each parcel of unimproved real property included in the district. For purposes of this section, "parcel" means tax map parcel.
1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 48 - Virginia Transportation Service District Act › § 15.2-4813. Abolition of district

A. Any district created hereunder may be abolished by a resolution passed by the board of supervisors upon the petition of the owners of at least 51 percent of either the assessed value of land or land area, as the case may be, of real property in the district that (i) was unimproved on the date the district was created or (ii) was zoned for commercial and industrial use or used for such purposes located within the district at the time the petition for abolition is filed. The petition shall request the board of supervisors to abolish the district. The petition may also:
1. State whether the purposes for which the district was formed have been substantially achieved;
2. State whether all obligations theretofore incurred by the district have been fully paid; and
3. Describe the benefits that can be expected from the abolition of the district.
B. Upon receipt of such a petition, the board of supervisors shall use, mutatis mutandis, the standards and procedures described in § 15.2-4802, except that all interested persons who either reside in or who own real property within the boundaries of the district shall have the right to appear and show cause why the district should not be abolished.
C. If the board of supervisors finds that the abolition of the district would be (i) in accordance with the applicable county comprehensive plan for the development of the area, (ii) in the best interests of the residents and owners of the property within the district, and (iii) in furtherance of the public health, safety, and general welfare and that all debts of the district either have been paid and the purposes of the district have been fulfilled or should not be fulfilled by the district, or that the board of supervisors, with approval of the voters of the county, has agreed to assume the debts of the district, then the board of supervisors shall pass a resolution abolishing the district. Upon abolition of the district, the title to all funds and properties owned by the district at the time of such dissolution shall vest in the Commonwealth.
D. Where unimproved property, regardless of zoning, is included in the resolution dissolving the district, the board of supervisors, upon approving the resolution, shall direct that a copy of the resolution be recorded in the land records of the circuit court for the judicial circuit in which that county is located, for each parcel of unimproved real property included in the district. For purposes of this section, "parcel" means tax map parcel.
1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 48 - Virginia Transportation Service District Act › § 15.2-4814. Article to constitute complete authority for district for acts authorized; liberal construction

This article shall constitute full and complete authority for the district, without regard to the provisions of any other law, for doing the acts and things herein authorized. This article, being necessary for the welfare of the Commonwealth and its inhabitants, shall be liberally construed to effect the purposes hereof. Any court test concerning the validity of any bonds which may be issued for transportation improvements made pursuant to this article shall be determined pursuant to Article 6 (§ 15.2-2650 et seq.) of Chapter 26 of this title.
1997, c. 587; 2015, c. 709.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 48 - Virginia Transportation Service District Act › § 15.2-4815. Jurisdiction of counties, towns and officers, etc., not affected

Neither the creation of a district nor any other provision in this article shall affect the power, jurisdiction, or duties of the respective local governing bodies, sheriffs, treasurers, commissioners of revenue, circuit, district, or other courts, clerks of any court, magistrates, or any other town, county, or state officer in regard to the area embraced in any district, nor restrict or prevent any town or county or its governing body from imposing and collecting taxes or assessments for public improvements as permitted by law. Notwithstanding any contrary provisions of law, any county that creates a district pursuant to this section may obligate itself with respect to the zoning ordinances, zoning ordinance text, and regulations relating thereto for all classifications within the district as provided in subsection C of § 15.2-4802 for a term not to exceed 20 years from the date on which such a district is created.
1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 49 - Industrial Development and Revenue Bond Act › § 15.2-4903. Creation of industrial development authorities

A. The governing body of any locality in the Commonwealth is hereby authorized to create by ordinance a political subdivision of the Commonwealth, with such public and corporate powers as are set forth in this chapter. Any such ordinance may limit the type and number of facilities that the authority may otherwise finance under this chapter, which ordinance of limitation may, from time to time, be amended. Louisa County may, by ordinance, authorize an authority created or established under this chapter to acquire, own, operate, and regulate the use of airports, landing fields, and facilities, and other property incident thereto, including such facilities and property necessary for the servicing of aircraft. In the absence of any such limitation, an authority shall have all powers granted under this chapter.
B. The name of the authority shall be the Industrial Development Authority of (the blank spaces to be filled in with the name of the locality which created the authority, including the proper designation thereof as a county, city or town).
C. Notwithstanding subsection B, for any authority authorized by this section, the name of the authority may be the Economic Development Authority of (the blank space to be filled in with the name of the locality that created the authority), if the governing body of such locality so chooses.
D. The authority jointly created by the Town of South Boston and Halifax County pursuant to § 15.2-4916 may be named the Economic Development Authority of Halifax, Virginia, or such other name as the governing bodies of the Town of South Boston and Halifax County shall choose in the concurrent resolutions creating such authority.
1966, c. 651, § 15.1-1376; 1975, c. 254; 1997, c. 587; 1999, c. 157; 2000, c. 398; 2001, cc. 5, 6, 730; 2002, cc. 169, 680, 725; 2003, cc. 159, 343, 345, 350, 357; 2004, cc. 292, 782, 933; 2016, cc. 164, 312; 2017, c. 560.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 49 - Industrial Development and Revenue Bond Act › § 15.2-4906. Public hearing and approval

A. Whenever federal law requires public hearings and public approval as a prerequisite to obtaining federal tax exemption for the interest paid on private activity bonds, unless otherwise specified by federal law or regulation, the public hearing shall be conducted by the authority and the procedure for the public hearing and public approval shall be in accordance with this section.
B. For a public hearing by the authority, notice of the hearing shall be published not less than seven days in advance of such hearing in a newspaper having general circulation in the locality in which the facility to be financed is to be located. The applicant shall pay the cost of publication. The notice shall specify the time and place of hearing at which persons may appear and present their views. The hearing shall be held not less than seven days after the notice has been published.
The notice shall contain: (i) the name and address of the authority; (ii) the name and address (principal place of business, if any) of the party seeking financing; (iii) the maximum dollar amount of financing sought; and (iv) the type of business and purpose and specific location, if known, of the facility to be financed.
If after the hearing has been held the authority approves the financing, a reasonably detailed summary of the comments expressed at the hearing shall be conveyed promptly to the locality's governing body together with the recommendation of the authority.
C. For public approval, the governing body of the locality on behalf of which the bonds of the authority are issued shall no more than one year after the public hearing held by the authority either approve or disapprove financing of any facility recommended by the authority.
Action of the governing body shall be by a majority of a quorum set out in a resolution. Such vote shall be recorded and disclose how each member voted.
In case of a joint authority the approval required by the governing body of the locality shall be that governing body of the area where the facility will be located, if permitted by federal law or regulation.
The provisions of this section shall not apply to bonds, notes or other obligations issued pursuant to hearings held and governmental approvals obtained prior to the effective date of this act in compliance with federal law or regulation.
1983, c. 514, § 15.1-1378.1; 1997, c. 587; 2023, c. 130.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 49 - Industrial Development and Revenue Bond Act › § 15.2-4907. Fiscal impact statement

An authority may require any request for private activity bond financing when submitted to the authority to be accompanied by a statement in the following form, but the absence of any such form shall not affect the validity of a private activity bond:
________________
Date
_________________
(Name of Applicant)
_________________
(Facility)
1. Maximum amount of financing sought
$____
2. Estimated taxable value of the facility’s real property to be constructed in the locality
$____
3. Estimated real property tax per year using present tax rates
$____
4. Estimated personal property tax per year using present tax rates
$____
5. Estimated merchants’ capital tax per year using present tax rates
$____
6. a. Estimated dollar value per year of goods that will be purchased from Virginia companies within the locality
$____
b. Estimated dollar value per year of goods that will be purchased from non-Virginia companies within the locality
$____
c. Estimated dollar value per year of services that will be purchased from Virginia companies within the locality
$____
d. Estimated dollar value per year of services that will be purchased from non-Virginia companies within the locality
$____
7. Estimated number of regular employees on year round basis
$____
8. Average annual salary per employee
$____
Signature
____________________
Authority Chairman
_____________________
Name of Authority
If one or more of the above questions do not apply to the facility indicate by writing N/A (not applicable) on the appropriate line.
The provisions of this section shall not apply to bonds, notes or other obligations issued pursuant to hearings held and governmental approvals obtained prior to the effective date of this act in compliance with federal law or regulation.
1983, c. 514, § 15.1-1378.2; 1997, c. 587; 1998, c. 728; 2023, c. 130.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 49 - Industrial Development and Revenue Bond Act › § 15.2-4909. Liability of Commonwealth, political subdivisions, directors and officers

A. Bonds issued pursuant to this chapter shall not be deemed to constitute a debt or a pledge of the faith and credit of the Commonwealth, or any political subdivision thereof, including the locality which created the authority issuing such bonds, but such bonds shall be payable solely from the funds provided therefor as herein authorized. All such bonds shall contain on the face thereof a statement to the effect that neither the Commonwealth, nor any political subdivision thereof, nor the authority shall be obligated to pay the same or the interest thereon or other costs incident thereto except from the revenues and moneys 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 or the interest thereon or other costs incident thereto.
B. Neither the directors of the authority nor any person executing the bonds shall be liable personally on the bonds by reason of the issuance thereof.
C. 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.
D. Bonds issued pursuant to the provisions of this chapter shall not constitute an indebtedness within the meaning of any debt limitation or restriction.
1966, c. 651, § 15.1-1380; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 49 - Industrial Development and Revenue Bond Act › § 15.2-4910. 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 and 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 such bonds 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, such payment or agreements may be enforced by writ of mandamus, or by a suit, action or proceeding at law or in equity to compel the authority and the directors, officers, agents or employees thereof to perform the terms, provisions, and covenants contained in any trust indenture of the authority, by the appointment of a receiver in equity or by foreclosure of any such trust indenture or any one or more of said remedies.
1966, c. 651, § 15.1-1381; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 49 - Industrial Development and Revenue Bond Act › § 15.2-4911. Rents, fees and other charges

The authority shall fix and revise from time to time the rents, fees and other charges to be paid to it in connection with the lease or sale of various authority facilities and for any other services furnished or provided by the authority. Such rents, fees and charges shall provide at least sufficient funds to pay the cost of maintaining, repairing and operating such projects and the principal and interest of any bonds issued by the authority or other debts contracted as the bonds become due and payable. The authority and the political subdivision in which all or any part of a particular authority facility is located may agree on payment by the authority on account of governmental services to be rendered by the political subdivision in such amounts as the authority may find to be consistent with the purposes of this chapter. A reserve may be accumulated and maintained out of the revenues and receipts of the authority for extraordinary repairs and expenses and for such other purposes as may be provided in any resolution authorizing a bond issue or in any trust indenture securing the authority's bonds. Subject to such provisions and restrictions as may be set forth in the resolution or in the trust indenture authorizing or securing any of the bonds or other obligations hereunder, the authority shall have exclusive control of the revenues and receipts derived from the lease or sale of any authority facility and the right to use the revenues and receipts in the exercise of its powers and duties set forth in this chapter.
1966, c. 651, § 15.1-1382; 1968, c. 687; 1973, c. 528; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 49 - Industrial Development and Revenue Bond Act › § 15.2-4912. Exemption from taxation

The authority is hereby declared to be performing a public function in behalf of the locality with respect to which the authority is created and to be a public instrumentality of such locality. Accordingly, the income, including any profit made on the sale thereof from all bonds issued by the authority, shall at all times be exempt from all taxation by the Commonwealth or any political subdivision thereof.
1966, c. 651, § 15.1-1383; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 49 - Industrial Development and Revenue Bond Act › § 15.2-4913. Authority to be nonprofit; excess earnings

The authority shall be nonprofit and no part of its net earnings remaining after payment of its expenses shall enure to the benefit of any individual, firm or corporation, except that if the board of directors of the authority determines that sufficient provision has been made for the full payment of the expenses, bonds and other obligations of the authority then any net earnings of the authority thereafter accruing shall be paid to the locality with respect to which the authority was created. However, nothing herein contained shall prevent the board of directors from transferring all or any part of its facilities or properties in accordance with the terms of any contract entered into by the authority.
1966, c. 651, § 15.1-1384; 1973, c. 528; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 49 - Industrial Development and Revenue Bond Act › § 15.2-4914. Dissolution of authority; disposition of property

Whenever the board of directors of the authority by resolution determines that the purposes for which the authority was formed have been substantially complied with and all bonds theretofore issued and all obligations theretofore incurred by the authority have been fully paid, the then members of the board of directors of the authority shall thereupon execute and file for record with the governing body of the locality which created the authority, a resolution declaring such facts. If the governing body of the locality which created the authority is of the opinion that the facts stated in the authority's resolution are true and that the authority should be dissolved, it shall so resolve and the authority shall stand dissolved. Upon such dissolution, the title to all funds and properties owned by the authority at the time of such dissolution shall vest in the locality creating the authority and possession of such funds and properties shall forthwith be delivered to such locality.
1966, c. 651, § 15.1-1385; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 49 - Industrial Development and Revenue Bond Act › § 15.2-4915. Bonds as legal investments and lawful security

The bonds issued pursuant to this chapter shall be and are hereby declared to be legal and authorized investments for banks, savings banks, trust companies, building and loan associations, insurance companies, fiduciaries, trustees, guardians and for all public funds of the Commonwealth or other political corporations or subdivisions of the Commonwealth. Such bonds shall be eligible to secure the deposit of public funds of the Commonwealth, localities, school districts or other political corporations or subdivisions of the Commonwealth, and shall be security for such deposits to the extent of their value when accompanied by all unmatured coupons appertaining thereto.
1966, c. 651, § 15.1-1386; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 49 - Industrial Development and Revenue Bond Act › § 15.2-4916. Authorities acting jointly

The powers herein conferred upon authorities created under this chapter may be exercised by two or more authorities acting jointly. Two or more localities may jointly create an authority, in which case each of the directors of such authority shall be appointed by the governing body of the respective locality which the director represents.
1966, c. 651, § 15.1-1387; 1982, c. 463; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 49 - Industrial Development and Revenue Bond Act › § 15.2-4917. Facility sites

Any locality may acquire, pursuant to § 15.2-1800, but not by condemnation, a facility site and may likewise transfer any facility site to an authority. Such transfer may be authorized by a resolution of the governing body of the locality without submission of the question to the voters and without regard to the requirements, restrictions, limitations or other provisions contained in any other general, special or local law. Such facility sites may be located within or outside or partially within or outside the locality creating the authority. If a real estate broker licensed under § 54.1-2100 represents a party in a transaction through which a facility site is acquired, the locality may pay a reasonable brokerage fee to such real estate broker.
1966, c. 651, § 15.1-1388; 1997, c. 587; 1998, c. 728.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 49 - Industrial Development and Revenue Bond Act › § 15.2-4918. Provisions of chapter cumulative; construction

This chapter neither limits nor restricts any powers which the authority might otherwise have under any laws of this Commonwealth. No proceedings, notice or approval shall be required for the organization of the authority or the issuance of any bonds or any instrument as security therefor, except as herein provided. However, nothing herein shall be construed to deprive the Commonwealth and its political subdivisions of their respective police powers over properties of the authority or to impair any power thereover of any official or agency of the Commonwealth and its political subdivisions which may be otherwise provided by law. Nothing contained in this chapter shall be deemed to authorize the authority to occupy or use any land, streets, buildings, structures or other property of any kind, owned or used by any political subdivision within its jurisdiction, or any public improvement or facility maintained by such political subdivision for the use of its inhabitants, without first obtaining the consent of the governing body thereof.
1966, c. 651, § 15.1-1389; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 49 - Industrial Development and Revenue Bond Act › § 15.2-4919. Provisions of chapter controlling over other statutes and charters

Any provision of this chapter which is found to be in conflict with any other statute or charter shall be controlling and shall supersede such other statute or charter to the extent of such conflict.
1966, c. 651, § 15.1-1390; 1997, c. 587; 2015, c. 709.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 49 - Industrial Development and Revenue Bond Act › § 15.2-4920. Validation of creation of authorities, appointment of directors and proceedings; curative resolutions

All proceedings heretofore taken with respect to the creation of authorities by any locality pursuant to this chapter are hereby validated and confirmed and all such authorities are declared to be legally created. All incumbent directors of authorities are declared to be and are lawfully appointed directors of authorities, notwithstanding any failure to conform to the requirements of this chapter, and all such appointments are hereby ratified, validated and confirmed. However, all terms of incumbent directors shall conform to § 15.2-4904. The governing body of any locality is hereby authorized to adopt such corrective resolutions as may be necessary to carry out the requirements of the immediately preceding sentence. All proceedings heretofore taken to provide for or with respect to the authorization, issuance, sale, execution or delivery of bonds by or on behalf of any authority are hereby validated, ratified, approved and confirmed, and any such bonds so issued shall be valid, legal, binding and enforceable obligations of such authority.
1980, c. 304, § 15.1-1391; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 50 - Private Activity Bonds › § 15.2-5001. Purpose of chapter

It is the intent of the legislature by the passage of this chapter to allocate Virginia's total private activity bond issuing authority to those issuing authorities empowered to issue private activity bonds.
The Tax Reform Act of 1986 imposes restrictions on the issuance of bonds designated in the Act as "private activity bonds." These restrictions include limitations on the aggregate amount of private activity bonds that may be issued in each state in any calendar year that may be regarded as exempt from federal income taxation. Section 146 (e) of the Tax Reform Act of 1986 provides the authority for each state to establish a system for the allocation of the state ceiling on private activity bonds.
It is the intent of the legislature to provide for the allocation of the state ceiling among issuers of such bonds in a manner which will promote the public purposes and maximize the public benefits created by the issuance of such bonds.
1987, c. 306, § 15.1-1399.11; 1997, c. 587; 2008, c. 445.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 50 - Private Activity Bonds › § 15.2-5002. Allocation of state ceiling for 2008 and beyond

This section shall apply to all private activity bonds issued by issuing authorities during 2008 and in years subsequent to 2008. The state ceiling for these calendar years shall be allocated as follows:
1. "Housing." For calendar years 2008 and beyond, an amount equal to 57 percent of the Virginia state ceiling on private activity bonds shall be set aside for single family and multifamily housing bonds. The housing portion of the state ceiling shall be divided between local housing authorities and the Virginia Housing Development Authority. The bond authority allocated to these issuers shall be distributed as follows:
Issuer
Portion of State Ceiling
Local Housing Authorities
14%
Virginia Housing Development Authority
43%
Total Housing Allocation
57%
2. "Industrial Development." For calendar years 2008 and beyond, an amount equal to 25 percent of the Virginia state ceiling on private activity bonds shall be set aside for the issuance of industrial development bonds for manufacturing and exempt facilities; provided, however, that in the event that on July 1, 2008, the amount of private activity bonds allocated since January 1, 2008, for manufacturing and exempt facilities pursuant to the guidelines established under § 15.2-5003 shall have exceeded such 25 percent amount, the amount set aside for the Virginia Housing Development Authority under this section for calendar year 2008 shall be reduced by the amount of such excess, but in no event shall the amount of private activity bonds so allocated exceed 41 percent of the Virginia state ceiling on private activity bonds for calendar year 2008.
3. "State allocation." For calendar years 2008 and beyond, an amount equal to eighteen percent of the Virginia state ceiling on private activity bonds shall be set aside for state issuing authorities for allocations to housing and to exempt projects and manufacturing facilities of state and regional interests as determined by the Governor.
1987, c. 306, § 15.1-1399.14; 1990, c. 299; 1995, cc. 359, 384; 1997, c. 587; 1998, cc. 39, 784; 2008, c. 445.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 50 - Private Activity Bonds › § 15.2-5003. Administration

The Board of Housing and Community Development shall establish guidelines in accordance with this chapter that shall detail (i) the specific administrative policies, criteria, and procedures for the allocation to local housing authorities set forth in subdivision 1 of § 15.2-5002 and (ii) the administrative procedures for the state allocation set forth in subdivision 3 of § 15.2-5002. The Virginia Housing Development Authority shall administer its allocation set forth in subdivision 1 of § 15.2-5002 and shall use such allocation to finance loans for single family and multi-family housing in accordance with the policies, criteria, and procedures in its rules and regulations applicable to such loans, provided, however, that notwithstanding any other provision of this chapter, the Virginia Housing Development Authority may use any or all of its allocation of bond authority under § 15.2-5002 and any unused bond authority reallocated or continued to be allocated to the Virginia Housing Development Authority under § 15.2-5004 to issue mortgage credit certificates in accordance with (a) the provisions of § 25 of the United States Internal Revenue Code of 1986, as amended, and any successor provisions and (b) the policies, criteria, and procedures in its rules and regulations applicable to such certificates. The Virginia Small Business Financing Authority shall establish guidelines in accordance with this chapter which detail the specific administrative policies, criteria, and procedures for the use of the allocation for industrial development set forth in subdivision 2 of § 15.2-5002. Specific application, allocation, and reporting requirements shall be provided by the guidelines. The guidelines of the Board of Housing and Community Development and the Virginia Small Business Financing Authority shall be in accordance with the limitations and restrictions contained in federal law.
1987, c. 306, § 15.1-1399.15; 1995, c. 128; 1997, c. 587; 2008, c. 445; 2012, c. 239.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 50 - Private Activity Bonds › § 15.2-5004. Reallocation of bond authority

The allocation formulas prescribed in this chapter are established to utilize the entire state ceiling on private activity bonds by providing issuing authority to housing and industrial development projects. The allocation to local housing authorities and the allocation for industrial development provided in § 15.2-5002 shall be effective for such period in each calendar year as is set forth in the guidelines established pursuant to § 15.2-5003.
Any unused bond authority remaining in any category after the effective period of the allocation set forth in such guidelines shall be reallocated to the Virginia Housing Development Authority (and any unused bond authority allocated to the Virginia Housing Development Authority shall continue to be allocated to the Virginia Housing Development Authority) in the amount requested by the Virginia Housing Development Authority, subject to the receipt by the Director of the Department of Housing and Community Development of assurances from the Virginia Housing Development Authority of anticipated usage of such amount of unused bond authority within the time period permitted by federal law, and any remaining amount that is not so reallocated (or continued to be allocated) to the Virginia Housing Development Authority shall be reallocated according to the guidelines established by the Board of the Department of Housing and Community Development and the Virginia Small Business Financing Authority. The guidelines shall also provide a priority system for the reallocation of any such remaining unused bond authority not reallocated (or continued to be allocated) to the Virginia Housing Development Authority at year-end to projects that are eligible to carry forward issuing authority to later years. The provisions of this section shall not apply to the amount of the state ceiling set aside for the state allocation during any calendar year.
1987, c. 306, § 15.1-1399.16; 1989, c. 35; 1990, c. 299; 1995, c. 128; 1997, c. 587; 2008, c. 445.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 50 - Private Activity Bonds › § 15.2-5005. Changes by the federal government

If federal laws or regulations controlling private activity bonds are revised so that the provisions of this chapter are affected or the tax exempt status of certain private activity bonds expires or is extended, the Governor may establish measures through executive order to allocate Virginia's total bond issuing authority in accordance with the limitations and restrictions contained in the revised federal law.
1987, c. 306, § 15.1-1399.17; 1990, c. 299; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 51 - Virginia Water and Waste Authorities Act › § 15.2-5100. Title of chapter

This chapter shall be known and may be cited as the "Virginia Water and Waste Authorities Act." This chapter shall constitute full and complete authority, without regard to the provisions of any other law for the doing of the acts herein authorized, and shall be liberally construed to effect the purposes of the chapter.
Code 1950, § 15-764.1; 1950, p. 1312; 1962, c. 623, § 15.1-1239; 1997, c. 587.
2023 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

A. The governing body of a locality may by ordinance or resolution, or the governing bodies of two or more localities may by concurrent ordinances or resolutions or by agreement, create a water authority, a sewer authority, a sewage disposal authority, a stormwater control authority, a refuse collection and disposal authority, or any combination or parts thereof. The name of the authority shall contain the word "authority." The authority shall be a public body politic and corporate and a political subdivision of the Commonwealth. The ordinance, resolution or agreement creating the authority shall not be adopted or approved until a public hearing has been held on the question of its adoption or approval, and after approval at a referendum if one has been ordered pursuant to this chapter.
B. Any authority, or any subsidiary thereof, organized pursuant to this section to operate a refuse collection and disposal system that, pursuant to statute, is specifically authorized to include in the system (i) facilities for processing solid waste as a fuel and (ii) facilities for generating steam and electricity for sale, shall not be subject to regulation under the Utilities Facilities Act (§ 56-265.1 et seq.), provided that sales of electricity generated at such facilities are made only to a federal agency whose primary responsibility is national defense and the energy is delivered directly from the generator to the customer's facilities or to a public utility.
Code 1950, § 15-764.3; 1950, p. 1315; 1962, c. 623, § 15.1-1241; 1972, c. 370; 1973, c. 478; 1993, c. 850; 1995, c. 402; 1996, c. 897; 1997, cc. 527, 573, 587; 1999, cc. 896, 925; 2011, c. 199.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 51 - Virginia Water and Waste Authorities Act › § 15.2-5103. Ordinance, agreement or resolution creating authority to include articles of incorporation

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.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 51 - Virginia Water and Waste Authorities Act › § 15.2-5104. Advertisement of ordinance, agreement or resolution and notice of hearing

The governing body of each participating locality shall cause to be advertised at least one time in a newspaper of general circulation in such locality a copy of the ordinance, agreement or resolution creating an authority, or a descriptive summary of the ordinance, agreement or resolution and a reference to the place within the locality where a copy of the ordinance, agreement or resolution can be obtained, and notice of the day, not less than seven days after publication of the advertisement, on which a public hearing will be held on the ordinance, agreement or resolution.
Code 1950, § 15-764.5; 1950, p. 1315; 1962, c. 623, § 15.1-1243; 1972, c. 370; 1983, c. 80; 1997, c. 587; 2023, cc. 506, 507.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 51 - Virginia Water and Waste Authorities Act › § 15.2-5105. Hearing; referendum

If at the hearing, in the judgment of the governing body of the participating locality, substantial opposition is heard, the governing body may at its discretion petition the circuit court to order a referendum on the question of adopting or approving the ordinance, agreement or resolution. The provisions of § 24.2-684 shall govern the order for a referendum. When two or more localities are participating in the formation of such authority, the referendum, if ordered, shall be held on the same date in all participating localities. If ten percent of the qualified voters in a locality file a petition with the governing body at the hearing calling for a referendum, such governing body shall petition the circuit court to order a referendum in that locality as provided in this section.
Code 1950, § 15-764.6; 1950, p. 1315; 1962, c. 623, § 15.1-1244; 1970, c. 617; 1972, c. 370; 1973, c. 478; 1975, c. 517; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 51 - Virginia Water and Waste Authorities Act › § 15.2-5106. Voters' petition requesting agreement and referendum

The qualified voters of any locality whose governing body has not acted to create an authority under § 15.2-5102 may file with the governing body of such locality a petition asking the governing body to effect an agreement in accordance with § 15.2-5102 with the localities named in the petition. Such petition shall be signed by at least ten percent of the number of the locality's voters who voted in the last presidential election and in no case be signed by fewer than fifty voters. The petition shall ask the governing body to petition the circuit court for a referendum on the question of the creation of the authority.
If the governing body is unable, or for any reason fails, to perfect such agreement within three months of the day the petition was filed with such governing body, then the circuit court for the locality shall appoint a committee of five representative citizens of the locality to act for and in lieu of the governing body in perfecting the agreement and in petitioning for a referendum. The agreement shall not take effect unless approved in the referendum by a majority of the voters voting in the referendum.
1972, c. 370, § 15.1-1244.1; 1975, c. 517; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 51 - Virginia Water and Waste Authorities Act › § 15.2-5107. Filing articles of incorporation

After adoption or approval of an ordinance, resolution or agreement creating an authority, the governing bodies of the participating localities shall file with the State Corporation Commission the authority's articles of incorporation.
Code 1950, § 15-764.7; 1950, p. 1316; 1962, c. 623, § 15.1-1245; 1973, c. 478; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 51 - Virginia Water and Waste Authorities Act › § 15.2-5108. Issuance of certificate or charter

The State Corporation Commission shall issue a certificate of incorporation or charter to the authority if it finds that:
1. The articles of incorporation conform to law; and
2. The estimated costs and rates for services of the proposed projects are fair and equitable, and have been advertised under § 15.2-5104 or subsection A of § 15.2-5156, as applicable.
Upon the issuance of the certificate or charter such authority shall be conclusively deemed to have been lawfully and properly created and established and authorized to exercise its powers under this chapter.
Code 1950, § 15-764.8; 1950, p. 1316; 1962, c. 623, § 15.1-1246; 1973, c. 478; 1983, c. 80; 1984, c. 239; 1997, c. 587; 2009, c. 473.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 51 - Virginia Water and Waste Authorities Act › § 15.2-5109. Dissolution and termination of authority

Whenever the board of an authority determines that the purposes for which it was created have been completed or are impractical or impossible or that its functions have been taken over by one or more political subdivisions and that all its obligations have been paid or have been assumed by one or more of such political subdivisions or any authority created thereby or that cash or United States government securities have been deposited for their payment, it shall adopt and file with the governing body of each political subdivision which is a member of the authority a resolution declaring such facts. If all the governing bodies adopt resolutions concurring in such declaration and finding that the authority should be dissolved, they shall file appropriate articles of dissolution with the State Corporation Commission. When the affairs of the authority have been wound up and all of its assets have been distributed, the governing bodies shall file appropriate articles of termination of corporate existence with the State Corporation Commission.
If any of the governing bodies refuse to adopt resolutions concurring in such declaration, then the authority may petition the circuit court for any locality which is a member of the authority to order one or more of such governing bodies to create a new authority. The circuit court may order the governing body of the political subdivision requesting dissolution of the existing authority to adopt an ordinance establishing a new authority to which the provisions of §§ 15.2-5102 through 15.2-5106 shall not apply. Thereafter, the court may order that the assets be divided among the authorities and, subject to the approval of any debt holder, require the assumption of a proportionate share of the obligations of the existing authority by the new authority.
Notwithstanding the provisions of subdivision 1 of § 15.2-5114, an authority shall continue in existence and shall not be dissolved because the term for which it was created, including any extensions thereof, has expired, unless all of such authority's functions have been taken over and its obligations have been paid or have been assumed by one or more political subdivisions or by an authority created thereby, or cash or United States government securities have been deposited for their payment.
1970, c. 617, § 15.1-1269.1; 1982, c. 662; 1997, c. 587; 2009, c. 216.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 51 - Virginia Water and Waste Authorities Act › § 15.2-5110. Amendment of articles of incorporation

The articles of incorporation of any authority created under the provisions of this chapter may be amended with respect to the name or powers of such authority or in any other manner not inconsistent with this chapter by following the procedure prescribed by law for the creation of an authority.
Code 1950, § 15-764.12; 1950, p. 1318; 1954, c. 554; 1958, cc. 400, 402; 1960, c. 430; 1962, cc. 130, 623, § 15.1-1250; 1968, cc. 355, 556; 1970, cc. 444, 617; 1972, c. 161; 1979, c. 280; 1980, c. 159; 1981, c. 610; 1983, c. 422; 1984, c. 554; 1994, c. 477; 1997, c. 587.