State Codes and Statutes
Statutes > Virginia > Title-15-2 > Chapter-49 > 15-2-4911§ 15.2-4911. Rents, fees and other charges.
The authority shall fix and revise from time to time the rents, fees andother charges to be paid to it in connection with the lease or sale ofvarious authority facilities and for any other services furnished or providedby the authority. Such rents, fees and charges shall provide at leastsufficient funds to pay the cost of maintaining, repairing and operating suchprojects and the principal and interest of any bonds issued by the authorityor other debts contracted as the bonds become due and payable. The authorityand the political subdivision in which all or any part of a particularauthority facility is located may agree on payment by the authority onaccount of governmental services to be rendered by the political subdivisionin such amounts as the authority may find to be consistent with the purposesof this chapter. A reserve may be accumulated and maintained out of therevenues and receipts of the authority for extraordinary repairs and expensesand for such other purposes as may be provided in any resolution authorizinga bond issue or in any trust indenture securing the authority's bonds.Subject to such provisions and restrictions as may be set forth in theresolution or in the trust indenture authorizing or securing any of the bondsor other obligations hereunder, the authority shall have exclusive control ofthe revenues and receipts derived from the lease or sale of any authorityfacility and the right to use the revenues and receipts in the exercise ofits powers and duties set forth in this chapter.
(1966, c. 651, § 15.1-1382; 1968, c. 687; 1973, c. 528; 1997, c. 587.)
