reglab/statecodes huggingface dataset:
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 58 - Virginia Baseball Stadium Authority › § 15.2-5811. Stadium Authority Financing Fund; use

A. There is hereby created a Virginia Baseball Stadium Authority Financing Fund ("Fund"). The Authority shall use the Fund as a nonlapsing revolving fund for carrying out the provisions of this chapter.
B. All of the following receipts of the Authority shall be placed in the Fund: (i) proceeds from the sale of bonds, (ii) revenues collected or received from any source under the provisions of this chapter, and (iii) any other revenues under the jurisdiction of the Authority.
C. The Authority shall pay all expenses and make all expenditures from the Fund. To the extent deemed appropriate by the Authority, the receipts of the Fund shall be pledged to and charged with the payment of debt service on Authority bonds and all reasonable charges and expenses related to Authority borrowing and the management of Authority obligation.
1992, c. 823, § 15.1-227.81; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 58 - Virginia Baseball Stadium Authority › § 15.2-5812. Additional duties

In addition to the duties set forth elsewhere in this chapter, the Authority shall:
1. Keep records as are consistent with sound business practices and accounting records using generally accepted accounting practices;
2. Cause an audit by an independent certified public accountant to be made of accounts and transactions at the conclusion of each fiscal year;
3. Be subject to audit and examination at any reasonable time of its accounts and transactions by the Auditor of Public Accounts; and
4. Submit a detailed annual report of its activities and financial standing to the Governor and to the General Assembly.
1992, c. 823, § 15.1-227.82; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 58 - Virginia Baseball Stadium Authority › § 15.2-5813. Creation of local advisory boards

Prior to constructing any facility, the Authority shall create a local advisory board for that facility. Each local advisory board shall be composed of twelve members. Six members shall be appointed by the local governing body in which the proposed facility is to be located. Notwithstanding the provisions of § 15.2-1534, the governing body may appoint one or more of its members to serve on the local advisory board. Six members shall be appointed by the Authority, and each of those six members shall reside in the locality in which the facility is proposed to be located. All advisory board members shall be appointed for a term of four years. All advisory board members shall serve without pay, but a member may be reimbursed by the Authority for reasonable expenses actually incurred in the performance of advisory functions. Each advisory board shall elect a chairman and a secretary and such other officers as it deems necessary. The Authority shall give each local advisory board reasonable opportunity to provide appropriate comments and recommendations on the design and the operation of the facility in its locality.
1995, cc. 613, 629, § 15.1-227.83; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 58 - Virginia Baseball Stadium Authority › § 15.2-5814. Entitlement to sales tax revenues derived from a major league baseball stadium

A. In connection with the issuance of bonds by the Authority to finance or refinance a major league baseball stadium, the Authority shall be entitled to all sales tax revenues that are generated by transactions taking place upon the premises of the major league baseball stadium. Such entitlement shall continue for the lifetime of such bonds, but that entitlement shall not exceed thirty years. Sales tax revenues may be applied to repayment of the bonds, stadium operating expenses, master lease rental payments by the Commonwealth, capital expenditures and other purposes of the Authority. The State Comptroller shall remit such sales tax revenues to the Authority on a quarterly basis, subject to such reasonable processing delays as may be required by the Department of Taxation to calculate the actual net sales tax revenues generated by transactions taking place upon the premises of the major league baseball stadium. The State Comptroller shall make such remittances to the Authority, as provided herein, notwithstanding any provisions to the contrary in the Virginia Retail Sales and Use Tax Act (§ 58.1-600 et seq.).
B. In connection with the issuance of bonds by the Authority to finance or refinance a major league baseball stadium, the local governing body of the locality in which the stadium is located may direct, by ordinance or resolution, that all local sales and use tax revenues generated by transactions taking place upon the premises of the major league stadium from taxes levied pursuant to §§ 58.1-605 and 58.1-606 shall be remitted by the State Comptroller to the Authority for the repayment of bonds, stadium operating expenses, master lease rental payments by the Commonwealth, capital expenditures and other purposes of the Authority. Such remittances shall be for the same period and under the same conditions as remittances to the Authority paid in accordance with subsection A, mutatis mutandis.
C. In connection with the issuance of bonds by the Authority to finance or refinance a major league baseball stadium, the local governing body of the locality in which the stadium is located may direct, by ordinance or resolution, that all admissions tax revenues of such locality generated by admissions to the major league stadium from taxes levied pursuant to §§ 58.1-3818 and 58.1-3840 shall be remitted to the Authority for the repayment of bonds, stadium operating expenses, master lease rental payments by the Commonwealth, capital expenditures and other purposes of the Authority. Any levy pursuant to this section may be for the lifetime of such bonds, but such levy shall not exceed thirty years.
1995, cc. 613, 629, § 15.1-227.84; 1996, cc. 950, 1038; 1997, cc. 587, 884; 2005, c. 106.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 58 - Virginia Baseball Stadium Authority › § 15.2-5815. Tax revenues of the Commonwealth or any other political subdivision not pledged

Nothing in this chapter shall be construed as authorizing the pledging of the faith and credit of the Commonwealth, or any of its revenues, or the faith and credit of any other political subdivision of the Commonwealth, or any of its revenues, for the payment of any bonds.
1995, cc. 613, 629, § 15.1-227.85; 1996, cc. 950, 1038; 1997, cc. 587, 884; 2005, c. 106.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 58 - Virginia Baseball Stadium Authority › § 15.2-5816. Cooperation between the Authority and other political subdivisions

The Authority may enter into agreements with any other political subdivision of the Commonwealth for joint or cooperative action in accordance with § 15.2-1300.
1995, cc. 613, 629, § 15.1-227.86; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 58 - Virginia Baseball Stadium Authority › § 15.2-5817. Tort liability

No pecuniary liability of any kind shall be imposed on the Commonwealth or on any other political subdivision of the Commonwealth because of any act, agreement, contract, tort, malfeasance or nonfeasance by or on the part of the Authority, its agents, servants or employees.
1995, cc. 613, 629, § 15.1-227.87; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 58 - Virginia Baseball Stadium Authority › § 15.2-5818. Tort claims

For purposes of Article 18.1 (§ 8.01-195.1 et seq.) of Chapter 3 of Title 8.01, the Authority is an "agency" within the meaning of § 8.01-195.2, and each of its members and agents is an "employee" within the meaning of such section.
1996, cc. 950, 1038, § 15.1-227.88; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 58 - Virginia Baseball Stadium Authority › § 15.2-5819. Policy statement

It is hereby found, determined, and declared that the acquisition of a major league baseball franchise and a major league baseball stadium will result in substantial economic development in the Commonwealth and is in all respects for the benefit of the people of the Commonwealth and is a public purpose and that the Authority will be performing an essential government function in the exercise of the powers conferred by this chapter.
1996, cc. 950, 1038, § 15.1-227.89; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 59.2 - Virginia Beach Sports or Entertainment Project › § 15.2-5928. Definitions

As used in this chapter, unless the context requires a different meaning:
"City" or "City of Virginia Beach" means the City of Virginia Beach, the City of Virginia Beach Development Authority, or any community development authority formed by the City of Virginia Beach pursuant to the provisions of Article 6 (§ 15.2-5152 et seq.) of Chapter 51 for the purpose of developing the sports and entertainment district.
"Sales and use tax revenues" means tax collections under the Virginia Retail Sales and Use Tax Act (§ 58.1-600 et seq.), as limited herein, generated by transactions taking place upon the premises of a sports or entertainment project, including transactions generating revenues in connection with the development and construction of such project that would not be generated but for the existence of such project. For purposes of this chapter, "sales and use tax revenues" does not include the revenue generated by (i) the one-half percent sales and use tax increase enacted by Chapters 11, 12, and 15 of the Acts of Assembly of 1986, Special Session I, which shall be paid into the Commonwealth Transportation Fund as defined in § 33.2-1524; (ii) the one percent of the state sales and use tax revenue distributed among the counties and cities of the Commonwealth pursuant to subsection D of § 58.1-638 on the basis of school-age population; and (iii) the additional state sales and use tax in certain counties and cities assessed pursuant to Chapter 766 of the Acts of Assembly of 2013 and any amendments thereto.
"Sports and entertainment district" means the geographic area in the City of Virginia Beach located south of 21st Street, north of Norfolk Avenue, east of Birdneck Road, and west of the Virginia Beach Boardwalk.
"Sports or entertainment project" means a project including sports facilities, entertainment facilities, or both, representing at least $100 million of investment in the sports and entertainment district of the City of Virginia Beach, including any office, restaurant, concessions, retail, residential, and lodging facilities that are owned and operated adjacent to or in connection with such sports or entertainment project; film and sound studios and any other sports or entertainment-related infrastructure; and any other directly related properties, including onsite and offsite parking lots, garages, and other properties. "Sports or entertainment project" includes multiple facilities located on multiple properties, provided that such facilities share a nexus of ownership or management.
2019, c. 793; 2020, cc. 467, 1230, 1275.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 59.2 - Virginia Beach Sports or Entertainment Project › § 15.2-5929. Powers

In addition to all other powers it possesses, the City of Virginia Beach may:
1. Determine the locations of, develop, establish, construct, erect, acquire, own, repair, remodel, add to, extend, improve, equip, operate, regulate, and maintain a sports or entertainment project to the extent necessary to accomplish the purposes of this chapter;
2. Operate, enter into contracts for the operation of, and regulate the use and operation of a sports or entertainment project developed under the provisions of this chapter;
3. Fix and revise from time to time and charge and collect rates, rents, fees, ticket surcharges, or other charges for the use of a sports or entertainment project or for services rendered in connection with a sports or entertainment project;
4. Issue bonds under this chapter; and
5. Do all things necessary or convenient to carry out the powers granted by this chapter.
2019, c. 793.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 59.2 - Virginia Beach Sports or Entertainment Project › § 15.2-5930. Public hearings; notice; reports

A. At least 30 days before execution of a binding development agreement for a sports or entertainment project, the City of Virginia Beach shall submit to the General Assembly a detailed written report and findings of the City on the proposed agreement. The report and findings shall include a detailed plan of the method of funding and the economic benefits of the proposed agreement.
B. The State Treasurer shall be provided with copies of all documents relating to the proposed issuance of any bonds pursuant to § 15.2-5931 sufficiently in advance of such bond issue to conduct such reviews as the State Treasurer deems necessary. Such reviews shall be completed within 120 days after the date that the Treasurer is provided such documents. In the event that the Commonwealth is an obligated person determined to be material to an evaluation of the offering for which financial information will be included or referenced in the offering document in accordance with Securities and Exchange Commission Rule 15c 2-12 under the federal Securities Exchange Act of 1934, or in the event that in the opinion of the State Treasurer, with the concurrence of the Debt Capacity Advisory Committee established under Article 5 (§ 2.2-2712 et seq.) of Chapter 27 of Title 2.2, such bond issue will be considered tax-supported debt of the Commonwealth or have an adverse impact on the debt capacity or the credit ratings of the Commonwealth, such bond issue must be authorized by the General Assembly.
2019, c. 793.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 59.2 - Virginia Beach Sports or Entertainment Project › § 15.2-5932. Sports or Entertainment Project Financing Fund; use

A. The City of Virginia Beach may, in its discretion, create a Sports or Entertainment Project Financing Fund, hereafter referred to as "the Fund." The City of Virginia Beach may use the Fund as a non-lapsing revolving fund for the purposes of carrying out the provisions of this chapter and providing security for any bonds issued under this chapter.
B. All of the following receipts of the City of Virginia Beach may be placed in the Fund: (i) proceeds from the sale of bonds, (ii) revenues collected or received from any source under the provisions of this chapter, (iii) sales and use tax revenues remitted to the City of Virginia Beach by the State Comptroller pursuant to § 15.2-5933, and (iv) any other revenues under the jurisdiction of the City of Virginia Beach.
C. The City of Virginia Beach may pay expenses and make expenditures from the Fund. To the extent deemed appropriate by the City of Virginia Beach, the receipts of the Fund may be pledged to and charged with the payment of debt service on City of Virginia Beach bonds and all reasonable charges and expenses related to the City borrowing and the management of the City's obligations. The City of Virginia Beach may use the Fund to pay for expenses or debt service associated with or incurred by a community development authority formed by the City of Virginia Beach pursuant to the provisions of Article 6 (§ 15.2-5152 et seq.) of Chapter 51 for the purpose of developing the sports and entertainment district.
2019, c. 793; 2020, c. 467.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 59.2 - Virginia Beach Sports or Entertainment Project › § 15.2-5933. Entitlement to tax revenues derived from the operation of facilities

A. 1. Upon execution of a binding development agreement for a sports or entertainment project, the City of Virginia Beach shall be entitled, subject to appropriation, to sales and use tax revenues defined in this chapter. The State Comptroller shall remit such sales and use tax revenues to the City of Virginia Beach on a quarterly basis, subject to such reasonable processing delays as may be required by the Department of Taxation. The State Comptroller shall make such remittances to the City of Virginia Beach, as provided herein, notwithstanding any provisions to the contrary in the Virginia Retail Sales and Use Tax Act (§ 58.1-600 et seq.).
2. Any entitlement of the City of Virginia Beach to receive sales and use tax revenues pursuant to the provisions of this chapter shall expire on July 1 following the twentieth anniversary of the completion of construction of the sports or entertainment project.
B. The local governing body of the City of Virginia Beach may, by ordinance or resolution, fix and revise from time to time and charge and collect rates, rents, fees, ticket surcharges, or other charges for a sports or entertainment project and any temporary sports or entertainment project developed under the provisions of this chapter.
C. If a sports and entertainment project qualifies for entitlement to sales and use tax revenues pursuant to the provisions of § 58.1-3851.1 or 58.1-3851.2, the City of Virginia Beach shall remain eligible to receive sales and use tax revenues pursuant to the provisions of this chapter; however, the amount received pursuant to this chapter shall be reduced by the amount received pursuant to the provisions of § 58.1-3851.1 or 58.1-3851.2.
2019, c. 793; 2020, c. 467.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 59.2 - Virginia Beach Sports or Entertainment Project › § 15.2-5934. Tax revenues of the Commonwealth or any other political subdivision not pledged

Nothing in this chapter shall be construed as authorizing the pledging of the faith and credit of the Commonwealth, or the faith and credit of any other political subdivision of the Commonwealth, for the payment of any bonds. No bonds issued pursuant to § 15.2-5931 shall pledge the full faith and credit of the Commonwealth, nor shall such bonds constitute a debt of the Commonwealth, and the bonds shall so state on their face. Bondholders shall have no recourse whatsoever against the Commonwealth for the payment of principal, interest, or redemption premium, if any, on such bonds.
2019, c. 793.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 59.3 - Hampton Roads Regional Arena Authority › § 15.2-5937. Members of Authority; chairman; terms

A. The Authority shall consist of seven members as follows: four nonlegislative citizen members to be appointed by the Governor in consultation with the chief elected officer of each Hampton Roads locality or his designee, provided that at least one member shall be a resident of the City of Chesapeake, at least one member shall be a resident of the City of Norfolk, and at least one member shall be a resident of the City of Virginia Beach; and the chief elected officer of each Hampton Roads locality or his designee, who shall serve ex officio with voting privileges. Each member appointed by the Governor shall be subject to confirmation by the General Assembly. The members of the Authority annually shall elect a chairman and a vice-chairman from their membership; the vice-chairman shall perform the duties of the chairman in his absence. If a member of the Authority who is a chief elected officer of a locality is unable to attend a meeting of the Authority, he may designate another current elected official of such governing body to attend a meeting of the Authority. Such designation shall be for the purposes of one meeting and shall be submitted in writing or electronically to the chairman of the Authority prior to the affected meeting.
B. Members of the Authority who are elected shall serve terms coincident with their terms of office. After the initial staggering of terms, members of the Authority appointed by the Governor shall serve terms of four years.
At the end of a term, a member shall continue to serve until a successor is appointed and qualifies. A member who is appointed after a term has begun serves only for the rest of the term and until a successor is appointed and qualifies. The members of the Authority shall receive no compensation for their services, but a member may be reimbursed by the Authority for reasonable expenses actually incurred in the performance of the duties of that office.
2020, cc. 538, 539.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 59.3 - Hampton Roads Regional Arena Authority › § 15.2-5938. Quorum; actions of Authority; meetings

Four members of the Authority shall constitute a quorum for the purpose of conducting business. Actions of the Authority shall receive the affirmative vote of a majority of the quorum to be effective. No vacancy on the Authority shall impair the right of a quorum to exercise all rights and perform all the duties of the Authority. The Authority shall determine the times and places of its regular meetings. Special meetings of the Authority shall be held when requested by two or more members of the Authority. Any such request for a special meeting shall be in writing, and the request shall specify the time and place of the meeting and the matters to be considered at the meeting. A reasonable effort shall be made to provide each member with notice of any special meeting. Only matters specified in the notice shall be considered at such special meeting unless all the members of the Authority are present.
2020, cc. 538, 539.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 59.3 - Hampton Roads Regional Arena Authority › § 15.2-5939. Executive Director appointment; duties

A. The Authority shall appoint an Executive Director, who is the chief administrative officer and secretary of the Authority and serves at the pleasure of the Authority. The Executive Director shall be paid from funds received by the Authority. No state funds shall be used to pay the salary or the expenses of this office.
B. In addition to any other duties set forth in this chapter, the Executive Director shall:
1. Direct and supervise the administrative affairs and activities of the Authority in accordance with its rules, regulations, and policies;
2. Attend all meetings and keep minutes of all proceedings;
3. Approve all accounts for salaries, per diem payments, and allowable expenses of the Authority and its employees and consultants and approve all expenses incidental to the operation of the Authority;
4. Report and make recommendations to the Authority on the merits and status of any proposed Facility; and
5. Perform any other duty that the Authority requires for carrying out the provisions of this chapter.
2020, cc. 538, 539.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 59.3 - Hampton Roads Regional Arena Authority › § 15.2-5941. Powers

In addition to all other powers it possesses, the Authority may:
1. Determine the location of, develop, establish, construct, erect, acquire, own, repair, remodel, add to, extend, improve, equip, operate, regulate, and maintain a Facility and Facility Site to the extent necessary to accomplish the purposes of this chapter, including contracting for materials, products, and services related to such Facility or Facility Site;
2. Enter into development agreements related to the Facility or Facility Site, including leases, subleases, and any other forms of private financing;
3. Develop a model for participating localities to share costs and revenues of a Facility and Facility Site;
4. Operate, enter into contracts for the operation of, and regulate the use and operation of a Facility and Facility Site developed under the provisions of this chapter;
5. Fix and revise from time to time and charge and collect rates, rents, fees, ticket surcharges, or other charges for the use of a Facility or Facility Site or for services rendered in connection with a Facility or Facility Site;
6. Dedicate any funds that accrue to the Authority pursuant to the provisions of this chapter for the construction, development, financing, operation, or maintenance of the Facility and Facility Site;
7. Issue bonds and similar financial instruments under this chapter;
8. Finance the construction of a Facility using loans, notes, private equity financing, or any other method of financing the Authority deems appropriate; and
9. Do all things necessary or convenient to carry out the powers granted by this chapter.
2020, cc. 538, 539.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 59.3 - Hampton Roads Regional Arena Authority › § 15.2-5942. Public hearings; notice; reports

A. At least 30 days before (i) acquiring or entering into a lease involving a Facility Site and (ii) entering into a construction contract for a Facility, the Authority shall submit to the General Assembly a detailed written report and findings of the Authority on the proposed acquisition, lease, or contract. The report and findings shall include a detailed plan of the method of funding and the economic benefits of the proposal.
B. The State Treasurer shall be provided with copies of (i) all documents relating to the proposed issuance of any bonds pursuant to § 15.2-5943 and (ii) all documents relating to a proposed acquisition, lease, or contract described in subsection A. Such copies shall be provided sufficiently in advance of such bond issuance or acquisition, lease, or contract to conduct such reviews as the State Treasurer deems necessary. Such reviews shall be completed within 60 days after the date that the Treasurer is provided such documents. In the event that the Commonwealth is an obligated person determined to be material to an evaluation of the offering for which financial information will be included or referenced in the offering document in accordance with Securities and Exchange Commission Rule 15c 2-12 under the federal Securities Exchange Act of 1934, or in the event that in the opinion of the State Treasurer, with the concurrence of the Debt Capacity Advisory Committee established under Article 5 (§ 2.2-2712 et seq.) of Chapter 27 of Title 2.2, such bond issue or contractual obligation will be considered tax-supported debt of the Commonwealth or have an adverse impact on the debt capacity or the credit ratings of the Commonwealth, such bond issue or contractual obligation must be authorized by the General Assembly. Within 60 days of receiving the documents described in this subsection, the Treasurer shall deliver a written opinion to the Authority and participating localities regarding whether the bond issue or contractual obligation will be considered tax-supported debt of the Commonwealth or have an adverse impact on the debt capacity or the credit ratings of the Commonwealth.
2020, cc. 538, 539.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 59.3 - Hampton Roads Regional Arena Authority › § 15.2-5944. Restrictions related to sports teams

A. If the Authority plans to use a Facility for the sole purpose of conducting athletic events involving a sports team, the Authority shall not enter into any contractual agreement with such sports team unless such contractual agreement requires that the sports team (i) not relocate until any bonds issued under this chapter are repaid or defeased and (ii) operate the Facility until any bonds issued under this chapter are repaid or defeased.
B. If the Authority plans to use a Facility for the sole purpose of conducting athletic events involving a sports team, the Authority shall not issue bonds under this chapter until it executes a long-term lease with (i) the owner of the sports team or (ii) a third party that has entered into a long-term sublease with the owner of the sports team.
C. If the Authority plans to use a Facility for the sole purpose of conducting athletic events involving a sports team, the Authority shall not issue bonds under this chapter until the league of which the sports team is a member publicly approves a proposal for the sports team to be located in a Hampton Roads locality.
D. The provisions of this subsection shall not apply if the Authority plans to use a Facility also for the purpose of holding entertainment events and conferences.
2020, cc. 538, 539.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 59.3 - Hampton Roads Regional Arena Authority › § 15.2-5945. Facility Financing Fund; use

A. If the Authority issues bonds pursuant to § 15.2-5943 or enters into a contractual agreement pursuant to § 15.2-5942, it shall create a Facility Financing Fund, hereafter referred to as "the Fund." The Authority shall use the Fund as a non-lapsing revolving fund for the purposes of carrying out the provisions of this chapter.
B. 1. The following receipts of the Authority shall be placed in the Fund: (i) proceeds from the sale of bonds issued pursuant to § 15.2-5943; (ii) revenues collected or received from any Hampton Roads locality, including local tax revenues appropriated for the purpose of deposit in the Fund; (iii) sales and use tax revenue remitted to the Authority pursuant to § 15.2-5946; (iv) development fees; and (v) revenues collected or received from any source under the provisions of this chapter. The Authority may place in the Fund any other revenues under its jurisdiction.
2. Any Hampton Roads locality may appropriate funds to the Fund for the Authority to use in accomplishing the purposes identified in this chapter.
C. The Authority shall pay expenses and make expenditures from the Fund, subject to appropriation by its governing board. Money in the Fund shall be used only (i) to pay debt service on bonds issued pursuant to § 15.2-5943, (ii) to make expenditures related to contractual obligations for the construction, development, operation, and maintenance of a Facility, (iii) to pay all reasonable charges and expenses related to borrowing and management of obligations by the Authority, and (iv) to remit to each participating locality its share of revenues from the Facility.
2020, cc. 538, 539.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 59.3 - Hampton Roads Regional Arena Authority › § 15.2-5946. Entitlement to tax revenues derived from the operation of a Facility

A. 1. The Authority shall be entitled, subject to appropriation, to sales and use tax revenues defined in this chapter. Such entitlement shall include transactions that occur while a Facility is under construction. The State Comptroller shall remit such sales and use tax revenues to the Authority on a quarterly basis, subject to such reasonable processing delays as may be required by the Department of Taxation. The State Comptroller shall make such remittances to the Authority, as provided herein, notwithstanding any provisions to the contrary in the Virginia Retail Sales and Use Tax Act (§ 58.1-600 et seq.).
2. The revenues accruing to the Authority pursuant to the provisions of this section shall be used by the Authority only to pay debt service, to distribute to any lessee of the Facility for the purpose of paying debt service, to meet contractual obligations entered into pursuant to § 15.2-5942, or to remit to each participating locality its share of revenues from the Facility.
B. The governing body of the Authority may fix and revise from time to time and charge and collect rates, rents, fees, ticket surcharges, or other charges for a Facility developed under the provisions of this chapter.
C. If a Facility qualifies for entitlement to sales and use tax revenues pursuant to the provisions of § 58.1-3851.1 or 58.1-3851.2, the Authority shall remain eligible to receive sales and use tax revenues pursuant to the provisions of this chapter; however, the amount received pursuant to this chapter shall be reduced by the amount received pursuant to the provisions of § 58.1-3851.1 or 58.1-3851.2.
D. The Tax Commissioner, as defined in § 58.1-1, shall report to the Chairmen of the Senate Committee on Finance and Appropriations, the House Committee on Appropriations, and the House Committee on Finance by July 1 of each year the amount of tax revenues accruing to the Authority pursuant to the provisions of this chapter.
2020, cc. 538, 539.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 59.3 - Hampton Roads Regional Arena Authority › § 15.2-5947. Sharing of revenue among participating localities

The Authority shall develop and administer a plan to distribute sales and use tax revenues from the Facility to each participating locality. The Authority shall not distribute such revenues to any participating locality until it has paid off any debt incurred pursuant to the provisions of this chapter. The plan to distribute sales and use tax revenues shall reasonably account for each participating locality's contributions to the costs of financing, constructing, maintaining, and operating the Facility and Facility Site.
2020, cc. 538, 539.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 59.3 - Hampton Roads Regional Arena Authority › § 15.2-5948. Tax revenues of the Commonwealth or any other political subdivision not pledged

Nothing in this chapter shall be construed as authorizing the pledging of the faith and credit of the Commonwealth, or the faith and credit of any other political subdivision of the Commonwealth, for the payment of any bonds. No bonds issued pursuant to § 15.2-5943 shall pledge the full faith and credit of the Commonwealth, nor shall such bonds constitute a debt of the Commonwealth, and the bonds shall so state on their face. Bondholders shall have no recourse whatsoever against the Commonwealth for the payment of principal, interest, or redemption premium, if any, on such bonds.
2020, cc. 538, 539.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 59.3 - Hampton Roads Regional Arena Authority › § 15.2-5949. Expiration of entitlement to certain sales tax revenues

The provisions of this chapter shall expire on the earlier of (i) the maturity date of any bonds issued for the construction of a Facility, including any refunding or refinancing of such bonds, or (ii) July 1, 2060.
2020, cc. 538, 539.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 60 - Virginia Coalfield Economic Development Authority › § 15.2-6000. Authority created; name

The Virginia Coalfield Economic Development Authority, hereinafter referred to as the Authority, is created as a body politic and corporate, a political subdivision of the Commonwealth. As such it shall have, and is hereby vested with, the powers and duties hereinafter conferred in this chapter.
1988, c. 833, § 15.1-1635; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 60 - Virginia Coalfield Economic Development Authority › § 15.2-6001. Findings of fact

The economy of Southwest Virginia has not kept pace with that of the rest of the Commonwealth. The economic problems of Southwest Virginia are due in large part to its present inability to diversify. The Southwest has suffered, and continues to suffer, widespread unemployment in great disproportion to the rest of the Commonwealth.
The Virginia Coalfield Economic Development Authority will assist the seven county and one city coal producing areas of the Commonwealth to achieve some degree of economic stability.
It is hereby further declared that the foregoing is a public purpose and use for which public moneys may be spent and such activity will serve a public purpose in providing jobs to the citizens of the Commonwealth.
1988, c. 833, § 15.1-1636; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 60 - Virginia Coalfield Economic Development Authority › § 15.2-6002. Purpose of Authority; performs governmental function

The primary purpose of the Authority is to enhance the economic base for the seven county and one city coalfield region of Virginia (Lee, Wise, Scott, Buchanan, Russell, Tazewell and Dickenson Counties and the City of Norton).
The Authority shall provide financial support for the purchase of real estate, construction of buildings for sale or lease, installation of utilities, direct loans and grants to private for-profit basic employers; may apply for matching funds from the state or federal government, or the private sector; and any other support improvements it deems necessary, including flood control dams. All such loans and grants may be managed by the LENOWISCO and Cumberland Plateau Planning District Commissions in their respective service areas.
The exercise of the powers granted by this chapter shall be in all respects for the benefit of the inhabitants of the Commonwealth, particularly the aforesaid seven county and one city areas, for the increase of their commerce, and for the promotion of their safety, health, welfare, convenience and prosperity.
1988, c. 833, § 15.1-1637; 1990, c. 341; 1992, c. 32; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 60 - Virginia Coalfield Economic Development Authority › § 15.2-6004. Office of Authority; title to property

The Authority shall have and maintain its principal office as determined by the Board, within the participating counties and one city at which all of its records shall be kept, and from which its business shall be transacted. The title to all property of every kind belonging to the Authority shall be titled to the Authority, which shall hold it for the benefit of the member localities and the Commonwealth.
1988, c. 833, § 15.1-1639; 1990, c. 341; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 60 - Virginia Coalfield Economic Development Authority › § 15.2-6005. General powers of Authority; regulations; enforcement of statutes, rules, etc.

In order to enable it to carry out the purposes of this chapter, the Authority acting through its Board:
1. Is vested with the powers of a body corporate, including the power to sue and be sued, to plead and be impleaded, to make contracts, and to adopt and use a common seal and to alter the same as may be deemed expedient;
2. May retain legal counsel to represent the Authority in hearings, controversies, or matters involving the interests of the Authority and the furtherance of its purpose; and
3. Is vested with power to adopt, alter or repeal its own bylaws, regulations governing the manner in which its business may be transacted and in which the power granted to it may be enjoyed, and may provide for the appointment of such committees, and the functions thereof, as the Authority may deem necessary to facilitate its business. Such committees shall consist of such number of persons as the Authority shall deem advisable. Members of committees shall receive no compensation for their services, but may be reimbursed their necessary traveling and other expenses incurred while on business of the Authority. The Authority may set flat fees for expenses for a member's attendance at all meetings of the Authority or at its other functions. Such fees shall not exceed $100 per day.
1988, c. 833, § 15.1-1640; 1990, c. 341; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 60 - Virginia Coalfield Economic Development Authority › § 15.2-6006. Further powers

The Authority, to accomplish its general purpose, is given the following powers, namely:
1. To enter into contractual agreements in furtherance of its purpose;
2. To rent, lease, buy, own, acquire and dispose of such property, real or personal, as the Authority deems proper to carry out any of the purposes and provisions of this chapter, including the execution of leases with option to purchase;
3. To apply for and accept grants or loans of money or other property from any federal agency for any of the purposes authorized in this chapter, and to expend or use the same in accordance with the directions and requirements attached thereto or imposed thereon by any such federal agency;
4. To engage in economic development marketing and business attraction activities and to pay from the Authority's funds any and all expenses incurred in connection with such economic development marketing and business attraction activities;
5. To pay from the Authority's funds any and all expenses incurred by the Authority including, but not limited to, administrative, operational, personnel, consultant, legal, marketing, business attraction, advertising, promotional, and any other expenses incurred in furtherance of the purposes of this chapter; and
6. To do and perform any act or function that is in accord with the purposes of the chapter, including (i) borrowing money and (ii) employing such persons as the Board deems necessary to carry on the business of the Authority.
1988, c. 833, § 15.1-1641; 1990, c. 341; 1997, c. 587; 2004, cc. 36, 177.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 60 - Virginia Coalfield Economic Development Authority › § 15.2-6007. Acceptance of funds, property and grants or loans

The Authority may accept funds and property from the federal government, the Commonwealth, persons and localities, and may use the same for any of the purposes for which the Authority is created.
Localities are hereby authorized to lend or donate money or other property to the Authority for any of its purposes. The locality making the grant or loan may restrict the use of such grants or loans to a specific project, within or outside that locality.
1988, c. 833, § 15.1-1642; 1990, c. 341; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 60 - Virginia Coalfield Economic Development Authority › § 15.2-6008. Forms of accounts and records; audit of same

The accounts and records of the Authority showing the receipt and disbursement of funds from whatever source derived shall be in such form as the Auditor of Public Accounts prescribes, provided that such accounts shall correspond as nearly as possible to the accounts and records for such matters maintained by corporate enterprises. The accounts and records of the Authority shall be subject to audit by the Auditor of Public Accounts on an annual basis and the costs of such audit services shall be borne by the Authority. The Authority's fiscal year shall be the same as the Commonwealth's.
1988, c. 833, § 15.1-1643; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 60 - Virginia Coalfield Economic Development Authority › § 15.2-6009. Capitalization of Authority

On September 1, 1988, and on the first day of each month thereafter, each county and city shall remit to the Virginia Coalfield Economic Development Fund 25 percent of the revenues collected during the next to last calendar month from the (i) gas road improvement tax pursuant to § 58.1-3713 and (ii) local coal road improvement severance license tax pursuant to subsection B of § 58.1-3741.
1988, c. 833, § 15.1-1644; 1997, c. 587; 2013, cc. 305, 618.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 60 - Virginia Coalfield Economic Development Authority › § 15.2-6010. Proceeds held

The treasurer may invest and reinvest funds of the Authority pending their need. All moneys received by the Authority pursuant to § 15.2-6009, together with any matching funds received from state or federal sources, shall be applied and used only in the county or city from which the funds were received, unless the governing body of the county or city consents to their use in another county or city.
Moneys received pursuant to § 58.1-3713.4 may be used at the discretion of the Authority for purposes and projects as determined by the Authority.
1988, c. 833, § 15.1-1645; 1990, c. 341; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 60 - Virginia Coalfield Economic Development Authority › § 15.2-6011. Eligible use of funds

The Authority is hereby empowered to pledge its funds, and make loans and grants to or for the benefit of for-profit enterprises or entities; governmental or corporate instrumentalities in the coalfield region of Virginia (including any political subdivision of the Commonwealth and the Breaks Interstate Park); not-for-profit enterprises or entities; nonprofit industrial development corporations; economic development authorities; or industrial development authorities for financing the following:
1. Purchase of real estate;
2. Grading of site(s);
3. Construction of flood control dams;
4. Water, sewer, natural gas and electrical line replacement and extensions;
5. Construction or rehabilitation or expansion of buildings;
6. Construction of parking facilities;
7. Access roads construction and street improvements;
8. Purchase, lease, or relocation of machinery, tools, equipment, furniture, software, or other personal property;
9. Construction of improvements outside the Commonwealth if in the Breaks Interstate Park;
10. Feasibility studies, site studies, preliminary engineering or architectural reports, and other studies and plans;
11. Such other improvements, projects, activities, or purposes as the Authority deems necessary to accomplish its purpose; and
12. Costs and expenses associated with any item listed in subdivisions 1 through 11, including, but not limited to, architectural, engineering, consulting, legal, closing, installation, delivery, and assembly expenses.
1988, c. 833, § 15.1-1646; 1990, c. 341; 1992, c. 32; 1993, c. 771; 1994, cc. 615, 674; 1997, c. 587; 2004, cc. 36, 177.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 60 - Virginia Coalfield Economic Development Authority › § 15.2-6012. Dissolution of Authority

Whenever the Board determines that the purpose for which the Authority was created has been substantially fulfilled or is impractical or impossible of accomplishment and that all obligations incurred by the Authority have been paid or that cash or a sufficient amount of United States government securities has been deposited for their payment or provisions satisfactory for the timely payment of all its outstanding obligations have been arranged, the Board may adopt resolutions declaring and finding that the Authority shall be dissolved. Appropriate attested copies of such resolutions shall be delivered to the Governor so that legislation dissolving the Authority may be introduced in the General Assembly. The dissolution of the Authority shall become effective according to the terms of such legislation. The title to all funds and other property owned by the Authority at the time of such dissolution shall vest in the counties and cities which have contributed to the fund in proportion to their respective contributions.
1988, c. 833, § 15.1-1647; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 60 - Virginia Coalfield Economic Development Authority › § 15.2-6013. Chapter liberally construed

This chapter, being necessary for the welfare of the Commonwealth and its inhabitants, shall be liberally construed to effect the purposes thereof.
1988, c. 833, § 15.1-1648; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 60 - Virginia Coalfield Economic Development Authority › § 15.2-6014. Inconsistent laws inapplicable

All other general or special laws inconsistent with any provision of this chapter are hereby declared to be inapplicable to the provisions of this chapter.
1988, c. 833, § 15.1-1649; 1997, c. 587.
2023 Code of Virginia › Title 15.2 - Counties, Cities and Towns › Chapter 60 - Virginia Coalfield Economic Development Authority › § 15.2-6015. City of Norton deemed contributing jurisdiction of Wise County

For the purpose of this chapter the City of Norton shall be deemed a contributing jurisdiction of Wise County and moneys collected from Wise County may be used in the City of Norton.
1988, c. 833, § 15.1-1650; 1997, c. 587.