The Authority is granted all powers necessary or convenient for carrying outits statutory purposes, including the following rights and powers:
1. To acquire by gift, devise, purchase, or otherwise, absolutely or intrust, and to hold, use, lease as lessee and unless otherwise restricted bythe terms of the gift or devise, to lease as lessor, convey, sell orotherwise dispose of any property, real or personal, or any estate orinterest therein including water rights. However, the Authority shall haveno power to encumber its real property or create any estate or interesttherein other than encumbrances on structures not extending to the realproperty upon which such structures are constructed.
2. To make and enter into any contracts and agreements with any appropriateperson or federal agency. Such contracts include but are not limited to (i)agreements with the Commonwealth, or any agency thereof, to lease propertyowned or controlled by the Commonwealth, for the purpose of construction,improvement, maintenance, or operation of any project or activity that willfurther the purposes described in this chapter; and (ii) agreements with anyperson to sublease property owned or controlled by the Commonwealth or toissue licenses for the purpose of construction, improvement, maintenance, oroperation of any project or activity that will further the purposes describedin this chapter.
3. To plan, develop, carry out, construct, improve, rehabilitate, repair,furnish, maintain, and operate projects.
4. To promulgate regulations concerning the use of properties under itscontrol to protect such property and the public thereon.
5. To fix, alter, charge, and collect rates, rentals, and other charges forthe use of projects of, or for the sale of products of or for the servicesrendered by the Authority. Such charges shall be used to pay the expenses ofthe Authority, the planning, development, construction, improvement,rehabilitation, repair, furnishing, maintenance, and operation of itsprojects and properties, the costs of accomplishing its purposes set forth in§ 10.1-1601, and the principal of and interest on its obligations, and tofulfill the terms and provisions of any agreements made with the purchasersor holders of any such obligations. Such fees, rents and charges shall not besubject to supervision or regulation by any commission, board, or agency ofthe Commonwealth or any political subdivision thereof.
6. To borrow money, make and issue bonds including bonds that the Authoritymay determine to issue for the purposes set forth in § 10.1-1601 or ofrefunding bonds previously issued by the Authority. The Authority shall havethe right to secure the payment of all bonds, or any part thereof, by pledgeor deed of trust of all or any of its revenues, rentals, and receipts or ofany project or property, tangible or intangible, or any interest therein.However, the Authority shall have no power to encumber its real property orcreate any estate or interest therein other than encumbrances on structuresnot extending to the real property upon which such structures are located.The bonds may be secured by a pledge of any grant or contribution from aperson or federal agency. The Authority shall have the power to makeagreements with the purchasers or holders of the bonds or with others inconnection with the bonds, whether issued or to be issued, as it deemsadvisable, and in general to provide for the security for the bonds and therights of the bond holders.
7. To employ consultants, attorneys, architects, engineers, accountants,financial experts, investment bankers, superintendents, managers and suchother employees and agents as may be necessary, and to fix their compensationto be payable from funds made available to the Authority.
8. To receive and accept from any federal agency, foundation, or person,grants, loans, gifts or contributions of money, property, or other things ofvalue, to be held, used and applied only for the purposes for which the grantor contribution is made or to be expended in accomplishing the objectives ofthe Authority.
9. To develop, undertake and provide programs, alone or in conjunction withany person or federal agency, for scientific research, continuing education,and in-service training, provided that credit towards a degree, certificateor diploma shall be granted only if the education is provided in conjunctionwith an institution of higher education authorized to operate in theCommonwealth; and to foster the utilization of scientific researchinformation, discoveries and data.
10. To pledge or otherwise encumber all or any of the revenues or receipts ofthe Authority as security for all or any of the obligations of the Authority.
11. To do all acts and things necessary or convenient to carry out the powersgranted by this chapter or any other acts.
(1986, c. 360, § 10-158.5; 1988, c. 891; 1991, c. 706.)
The Authority is granted all powers necessary or convenient for carrying outits statutory purposes, including the following rights and powers:
1. To acquire by gift, devise, purchase, or otherwise, absolutely or intrust, and to hold, use, lease as lessee and unless otherwise restricted bythe terms of the gift or devise, to lease as lessor, convey, sell orotherwise dispose of any property, real or personal, or any estate orinterest therein including water rights. However, the Authority shall haveno power to encumber its real property or create any estate or interesttherein other than encumbrances on structures not extending to the realproperty upon which such structures are constructed.
2. To make and enter into any contracts and agreements with any appropriateperson or federal agency. Such contracts include but are not limited to (i)agreements with the Commonwealth, or any agency thereof, to lease propertyowned or controlled by the Commonwealth, for the purpose of construction,improvement, maintenance, or operation of any project or activity that willfurther the purposes described in this chapter; and (ii) agreements with anyperson to sublease property owned or controlled by the Commonwealth or toissue licenses for the purpose of construction, improvement, maintenance, oroperation of any project or activity that will further the purposes describedin this chapter.
3. To plan, develop, carry out, construct, improve, rehabilitate, repair,furnish, maintain, and operate projects.
4. To promulgate regulations concerning the use of properties under itscontrol to protect such property and the public thereon.
5. To fix, alter, charge, and collect rates, rentals, and other charges forthe use of projects of, or for the sale of products of or for the servicesrendered by the Authority. Such charges shall be used to pay the expenses ofthe Authority, the planning, development, construction, improvement,rehabilitation, repair, furnishing, maintenance, and operation of itsprojects and properties, the costs of accomplishing its purposes set forth in§ 10.1-1601, and the principal of and interest on its obligations, and tofulfill the terms and provisions of any agreements made with the purchasersor holders of any such obligations. Such fees, rents and charges shall not besubject to supervision or regulation by any commission, board, or agency ofthe Commonwealth or any political subdivision thereof.
6. To borrow money, make and issue bonds including bonds that the Authoritymay determine to issue for the purposes set forth in § 10.1-1601 or ofrefunding bonds previously issued by the Authority. The Authority shall havethe right to secure the payment of all bonds, or any part thereof, by pledgeor deed of trust of all or any of its revenues, rentals, and receipts or ofany project or property, tangible or intangible, or any interest therein.However, the Authority shall have no power to encumber its real property orcreate any estate or interest therein other than encumbrances on structuresnot extending to the real property upon which such structures are located.The bonds may be secured by a pledge of any grant or contribution from aperson or federal agency. The Authority shall have the power to makeagreements with the purchasers or holders of the bonds or with others inconnection with the bonds, whether issued or to be issued, as it deemsadvisable, and in general to provide for the security for the bonds and therights of the bond holders.
7. To employ consultants, attorneys, architects, engineers, accountants,financial experts, investment bankers, superintendents, managers and suchother employees and agents as may be necessary, and to fix their compensationto be payable from funds made available to the Authority.
8. To receive and accept from any federal agency, foundation, or person,grants, loans, gifts or contributions of money, property, or other things ofvalue, to be held, used and applied only for the purposes for which the grantor contribution is made or to be expended in accomplishing the objectives ofthe Authority.
9. To develop, undertake and provide programs, alone or in conjunction withany person or federal agency, for scientific research, continuing education,and in-service training, provided that credit towards a degree, certificateor diploma shall be granted only if the education is provided in conjunctionwith an institution of higher education authorized to operate in theCommonwealth; and to foster the utilization of scientific researchinformation, discoveries and data.
10. To pledge or otherwise encumber all or any of the revenues or receipts ofthe Authority as security for all or any of the obligations of the Authority.
11. To do all acts and things necessary or convenient to carry out the powersgranted by this chapter or any other acts.
(1986, c. 360, § 10-158.5; 1988, c. 891; 1991, c. 706.)
The Authority is granted all powers necessary or convenient for carrying outits statutory purposes, including the following rights and powers:
1. To acquire by gift, devise, purchase, or otherwise, absolutely or intrust, and to hold, use, lease as lessee and unless otherwise restricted bythe terms of the gift or devise, to lease as lessor, convey, sell orotherwise dispose of any property, real or personal, or any estate orinterest therein including water rights. However, the Authority shall haveno power to encumber its real property or create any estate or interesttherein other than encumbrances on structures not extending to the realproperty upon which such structures are constructed.
2. To make and enter into any contracts and agreements with any appropriateperson or federal agency. Such contracts include but are not limited to (i)agreements with the Commonwealth, or any agency thereof, to lease propertyowned or controlled by the Commonwealth, for the purpose of construction,improvement, maintenance, or operation of any project or activity that willfurther the purposes described in this chapter; and (ii) agreements with anyperson to sublease property owned or controlled by the Commonwealth or toissue licenses for the purpose of construction, improvement, maintenance, oroperation of any project or activity that will further the purposes describedin this chapter.
3. To plan, develop, carry out, construct, improve, rehabilitate, repair,furnish, maintain, and operate projects.
4. To promulgate regulations concerning the use of properties under itscontrol to protect such property and the public thereon.
5. To fix, alter, charge, and collect rates, rentals, and other charges forthe use of projects of, or for the sale of products of or for the servicesrendered by the Authority. Such charges shall be used to pay the expenses ofthe Authority, the planning, development, construction, improvement,rehabilitation, repair, furnishing, maintenance, and operation of itsprojects and properties, the costs of accomplishing its purposes set forth in§ 10.1-1601, and the principal of and interest on its obligations, and tofulfill the terms and provisions of any agreements made with the purchasersor holders of any such obligations. Such fees, rents and charges shall not besubject to supervision or regulation by any commission, board, or agency ofthe Commonwealth or any political subdivision thereof.
6. To borrow money, make and issue bonds including bonds that the Authoritymay determine to issue for the purposes set forth in § 10.1-1601 or ofrefunding bonds previously issued by the Authority. The Authority shall havethe right to secure the payment of all bonds, or any part thereof, by pledgeor deed of trust of all or any of its revenues, rentals, and receipts or ofany project or property, tangible or intangible, or any interest therein.However, the Authority shall have no power to encumber its real property orcreate any estate or interest therein other than encumbrances on structuresnot extending to the real property upon which such structures are located.The bonds may be secured by a pledge of any grant or contribution from aperson or federal agency. The Authority shall have the power to makeagreements with the purchasers or holders of the bonds or with others inconnection with the bonds, whether issued or to be issued, as it deemsadvisable, and in general to provide for the security for the bonds and therights of the bond holders.
7. To employ consultants, attorneys, architects, engineers, accountants,financial experts, investment bankers, superintendents, managers and suchother employees and agents as may be necessary, and to fix their compensationto be payable from funds made available to the Authority.
8. To receive and accept from any federal agency, foundation, or person,grants, loans, gifts or contributions of money, property, or other things ofvalue, to be held, used and applied only for the purposes for which the grantor contribution is made or to be expended in accomplishing the objectives ofthe Authority.
9. To develop, undertake and provide programs, alone or in conjunction withany person or federal agency, for scientific research, continuing education,and in-service training, provided that credit towards a degree, certificateor diploma shall be granted only if the education is provided in conjunctionwith an institution of higher education authorized to operate in theCommonwealth; and to foster the utilization of scientific researchinformation, discoveries and data.
10. To pledge or otherwise encumber all or any of the revenues or receipts ofthe Authority as security for all or any of the obligations of the Authority.
11. To do all acts and things necessary or convenient to carry out the powersgranted by this chapter or any other acts.
(1986, c. 360, § 10-158.5; 1988, c. 891; 1991, c. 706.)
